Financial Institutions

[Nouseforaname]

2 minutes ago, Foxx said:

I'd say it's more like, Credit Suisse agreed to be purchased after UBS doubled their initial offer of $1bn. 

That’s a steal for what they are getting. IT contractors in Switzerland will be drooling right now.

[Foxx]

7 minutes ago, Nouseforaname said:

That’s a steal for what they are getting. IT contractors in Switzerland will be drooling right now.

Yeah, I dunno. The CB injecting $50+ bn of liquidity last week (which is gone because of the outflows) did nothing for confidence. This is why UBS has the backstop of being able to get out if 100bps in CDS is reached.

 

Again, it's going to be an interesting week.

[Foxx]

39 minutes ago, Nouseforaname said:

It’s done. Ubs has agreed to purchase crédit suisse.

&#%$ing clowns.

 

UBS agrees to buy Credit Suisse for more than $2bn

Quote

... with Swiss authorities poised to change the country’s laws to bypass a shareholder vote on the transaction as they rush to finalise a deal before Monday. ...

 

... "you will take a haircut, and you will like it."

[Foxx]

Moar from the article.

Quote

... with Swiss authorities poised to change the country’s laws to bypass a shareholder vote on the transaction as they rush to finalise a deal before Monday. ...

... "because last week's $50+bn infusion is all gone, and this one will satisfy the need." 

[Nouseforaname]

8 minutes ago, Foxx said:

Moar from the article.

... "because last week's $50+bn infusion is all gone, and this one will satisfy the need." 

It’s actually 100 now.

[Foxx]

11 minutes ago, Nouseforaname said:

It’s actually 100 now.

The 54 was last week.

 

This week, yes, 100bn.

 

Next week... infinity and beyond!

 

[Nouseforaname]

7 minutes ago, Foxx said:

The 54 was last week.

 

This week, yes, 100bn.

 

Next week... infinity and beyond!

 

The liquidity is provided so that money can be withdrawn.  Where do you think the money goes? To other banks. 
 

… and it’s paid back.
 

 

Edited March 19, 2023 by Nouseforaname

[Foxx]

7 minutes ago, Nouseforaname said:

The liquidity is provided so that money can be withdrawn.  Where do you think the money goes? To other banks. 
 

… and it’s paid back.
 

 

[Nouseforaname]

1 minute ago, Foxx said:

You’re an idiot.

[Foxx]

6 minutes ago, Nouseforaname said:

You’re an idiot.

 

On 1/14/2023 at 2:10 PM, Nouseforaname said:

Wonder what the status is of crédit suisse ? Is it still facing bankruptcy ? 

 

[Nouseforaname]

Just now, Foxx said:

 

 

Oh please, pretty sure we could go through everyone’s proclamations and find errors, yourself included oh fearless unbiased site owner.

[Crap Throwing Clavin]

4 hours ago, Foxx said:

Umm.. I think I did but let me break it down further for you.

 

Small but yes.

 

Cash for payroll. Debt free, my man, debt free.

 

If you haven't guessed by now... I don't trust the system.

 

What industry?

 

I've seen that work in fast food.  I've never seen any size federal contractor manage payroll without a short-term line of credit, though - when your invoices aren't paid for 30-60 days, you need credit to make payroll.

 

I dare say your situation was likely unusual.

[Nouseforaname]

3 minutes ago, Crap Throwing Clavin said:

 

What industry?

 

I've seen that work in fast food.  I've never seen any size federal contractor manage payroll without a short-term line of credit, though - when your invoices aren't paid for 30-60 days, you need credit to make payroll.

 

I dare say your situation was likely unusual.

I’m a contractor and I made sure that I had plenty of access to cash just in case I went some time without work.  Makes more sense than selling my assets.

[Foxx]

38 minutes ago, Nouseforaname said:

Oh please, pretty sure we could go through everyone’s proclamations and find errors, yourself included oh fearless unbiased site owner.

Yeah, no doubt.

 

There is a difference between what most others here say and do and what you say and do. Insread of engaging in civil discourse, everytime someone posts something that threatens your existing paradigm, you deride them, mock them (which is what you were attempting in my quoted post, btw), and are pretty much an @$$h@l& in every sense of the word. So... &#%$ you.

 

Additionally, what the hell is with the blah, blah, blah, "fearless blah, blah, blah, leader" thing (another thing you have posted before)? Yet another attempt at derision? Again, &#%$ you.

 

You're a punk who needs a good bitch slap. You're wrong more than you're right.

[Nouseforaname]

7 minutes ago, Foxx said:

Yeah, no doubt.

 

There is a difference between what most others here say and do and what you say and do. Insread of engaging in civil discourse, everytime someone posts something that threatens your existing paradigm, you deride them, mock them (which is what you were attempting in my quoted post, btw), and are pretty much an @$$h@l& in every sense of the word. So... &#%$ you.

 

Additionally, what the hell is with the blah, blah, blah, "fearless blah, blah, blah, leader" thing (another thing you have posted before)? Yet another attempt at derision? Again, &#%$ you.

 

You're a punk who needs a good bitch slap. You're wrong more than you're right.

 

😂😂😂 go &#%$ yourself.

 

 

Edited March 19, 2023 by Nouseforaname

[Nouseforaname]

 

[Foxx]

The New World Order is taking shape. Financially anyways.

 

 

https://twitter.com/financialjuice/status/1637559757987889152

 

https://twitter.com/financialjuice/status/1637560520873070593

 

https://twitter.com/financialjuice/status/1637560799131574277

 

https://twitter.com/financialjuice/status/1637561034494885892

 

https://twitter.com/financialjuice/status/1637561337894035462

 

https://twitter.com/financialjuice/status/1637561505519370240

 

https://twitter.com/financialjuice/status/1637561750068273153

 

 

[Foxx]

2 hours ago, Nouseforaname said:

 

And... away we go!

 

 

[Foxx]

Credit Suisse writes down $17 billion of bonds, angering holders

Quote

... Some bondholders were angry at the move to write down the bonds to zero, especially as it appears bondholders will fare worse than shareholders in the deal.

 

"It's stunning and hard to understand how they can reverse the hierarchy between AT1 holders and shareholders," said Jerome Legras, head of research at Axiom Alternative Investments, an investor in Credit Suisse's AT1 debt.

 

 

Oh boy...

 

From Financial Times:

Holders of $17bn of Credit Suisse bonds wiped out under UBS takeover

Quote

Holders of $17bn of Credit Suisse bonds will have their investment wiped out following the bank’s takeover by UBS, in a surprise move that is expected to cause ructions in European debt markets when they open on Monday.

 

As part of the historic deal between the banks, Swiss financial regulator Finma ordered that SFr16bn ($17bn) of Credit Suisse’s additional tier one (AT1) bonds, a relatively risky class of bank debt, will be written down to zero.

 

Credit Suisse said it was informed of the decision by the regulator as it thrashed out the final details of its SFr3bn takeover by UBS, which was announced on Sunday evening after several days of intense negotiations.

 

“The extraordinary government support will trigger a complete writedown of the nominal value of all AT1 shares of Credit Suisse in the amount of around SFr16bn, and thus an increase in core capital,” Finma said. ...

 

[Foxx]

Greater stability. Ummm, okay?