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b_b · 394 days ago · link · · parent · post: Credit Suisse Bond-Wipeout Threatens $250 Billion Market
I think the thing that no on saw coming is that by contract equities are supposed to be wiped out before bond holders. Apparently also the Saudis offered to buy CS for a higher price than than UBS but that was never really considered, and the Saudis are (were, actually) their biggest shareholder. So there's definitely some pissed off people right now, though can you really blame the gov't of Switzerland for not wanting the Kingdom to own their formerly great bank?