Credit Suisse got a 51 billion lifeline from the Swiss National Bank. For that money you might as well start a new bank.
I just reached out to a friend at CS. Will likely get a first-person account of being in that shit storm.
Being sold .. not sure as a whole or in bits and pieces..
Banking giant UBS (UBSG.S) is in discussions to take over all or parts of Credit Suisse (CSGN.S), with the boards of Switzerland's two biggest lenders set to meet separately over the weekend, the Financial Times reported on Friday.
The Swiss National Bank and regulator FINMA are organising the talks in an attempt to build confidence in the country's banking sector, the report said, citing people familiar with the matter.
And may be Blackrock...
The US investment giant has evaluated a number of options and talked to other potential investors, said people briefed about the matter. Among the options were bids for only portions of the business.
However, BlackRock on Saturday said it “is not participating in any plans to acquire all or any part of Credit Suisse, and has no interest in doing so”.
If Switzerland loses its famous banking status, they'll only have cuckoo clocks left.