UBS got Credit Suisse for almost nothing
Interesting reading. The bit that really jumped out at me was this: "Saudi National Bank — the Swiss bank’s largest shareholder" -> so here we have part of the problem, with all of these banks owning all or some of each other it is no wonder that when one of them gets into trouble the others are immediately discounted on the stock market. Not only do they get indirectly affected because they likely engage in similar practices, they also are interlinked through various stock holdings. And the solution here? More such linkage! Why didn't the Swiss government or the Swiss national bank end up owning it? Instead it is now - again - part of another such complex.You have to wonder how long it will be before UBS will have to be rescued.Another random thought: If even the Swiss can't keep it together financially we're in real trouble.