RE:UBS buys Credit Suisse today
To me one of the scariest things about this is that the Swiss Government passed a law that denied the shareholders of Credit Suisse from voting on the deal. So much for buying voting shares!! The other thing is that the deal essentially gives UBS a monopoly on banking in Switzerland. Thinking that this is not a good thing. The Credit Suisse saga has been going on for 15 years and suddenly the Swiss Government decides that a deal has to be struck before Monday!! Kinda reminds me of the weekend deal for Lehman Brothers back in 2008.