The Fall Of Credit Suisse | Bondholders Wiped Out, $17 Billion Now Worthless
Sean Foo: 3-21-2023
Credit Suisse has fallen with UBS agreeing to buy the bank in a shocking takeover. Not only did they get a cheap deal, but the bondholders of Credit Suisse’s high-risk debt were also wiped out. $17 billion is now worthless!
Here’s what you must know about the Credit Suisse bailout and how the banking crisis likely isn’t over yet.
Timestamps & Chapters:
0:00 The End of Credit Suisse
1:51 The Big Bailout!
4:10 $17 Billion Bond Implosion
6:54 Bond Crisis Getting Worse
8:51 A Credit Crisis Coming
11:02 Running To Warren Buffett