The case of Credit Suisse: The system is capable of learning / comment by
Bernd Kramer
Freiburg (ots) – Instead of hesitating for a long time, the bank was first with a
Liquidity injection from the central bank, as customers lack of confidence
withdrew billions of francs. After it became clear that this was not enough,
to prevent a collapse of the tottering money goliath, one grabbed from
Sides of the state quickly to tougher means. This speed is one
Lesson learned from the 2008/2009 financial crisis, when the world collapsed because of a bank failure and
hesitant reactions to the brink of a financial collapse. Only if that
State intervenes with power and determination in the capital market, that can
Trust can be restored on which the system is based. Whether the
state-mandated forced marriage of UBS with CS is the better way or at least
direct state entry into the crisis bank would have been more useful
difficult to say. The rescue of CS under the umbrella of UBS will indeed
Weaken competition and cost many jobs. But at least she has that
Advantage that there is a perspective for the Swiss financial center – with one
Large bank that does what the Swiss are very good at: the assets of others
administer. https://www.mehr.bz/khs79m
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