by kindred_asura

In March 2008, the New York Federal Reserve offered an emergency mortgage to attempt to avert a sudden collapse of Bear Stearns. The corporate couldn’t be saved, nevertheless, and was bought to JPMorgan Chase for $10 per share, a value far beneath its pre-crisis 52-week excessive of $133.20 per share, however not as little as the $2 per share initially agreed upon.

The collapse of the corporate was a prelude to the meltdown of the funding banking trade in america and elsewhere that culminated in September 2008, and the following 2008 world monetary disaster. In January 2010, JPMorgan ceased utilizing the Bear Stearns identify.

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In March 2023, the Swiss Nationwide Financial institution offered an emergency mortgage to attempt to avert a sudden collapse of Credit score Suisse. The corporate couldn’t be saved, nevertheless, and was bought to UBS for $0.75 per share, a value far beneath its 52-week excessive of $8 per share, however not as little as the $0.2 per share initially agreed upon.

The collapse of the corporate was a prelude to the meltdown of the funding banking trade …..

JPMORGAN: THE DECISION TO WRITE DOWN CREDIT SUISSE AT1 COULD LEAD TO CONTAGION FOR WHOLESALE FUNDING COSTS ACROSS THE INDUSTRY.

— Breaking Market Information (@financialjuice) March 20, 2023

CEO of credit score suisse goes on media saying liquidity may be very very robust then sells it to UBS for pennies on the greenback.

UBS shares slide 5%, Credit score Suisse craters 60% after takeover deal

Fed, Central Banks Announce Emergency Money Measures Sunday

Brace for a ‘crash touchdown’ because the US financial system barrels towards recession, prime economist David Rosenberg warns

US banks affect of unrealised losses

S&P cuts First Republic deeper into junk, says $30 billion infusion could not resolve issues

If market contributors are wringing their palms over the potential fallout from the collapse of Silicon Valley Financial institution, simply wait till they take a look at the banking trade’s publicity to the quickly weakening industrial actual property sector.

The UBS credit score default swaps (insurance coverage on default) are actually going vertical.

So who buys out UBS if they’ve a difficulty? pic.twitter.com/tCRKfSIus2

— Wall Road Silver (@WallStreetSilv) March 20, 2023

Whereas everybody was distracted by SVB they missed Credit score Suisse.

Whereas everyone seems to be distracted by Credit score Suisse they’re lacking Wells Fargo.

— Financelot (@FinanceLancelot) March 20, 2023