Seventeen. Billion. Dollars. Just Became Worthless. And anytime that much money essentially vanishes, the lawsuits come soon after. On March 19th 2023 UBS bought Credit Suisse for $3.2 Billion dollars. Credit Suisse was a steaming pile of dog crap. And the Swiss Government badly wanted UBS to step in and buy the bank. BUT if UBS was going to do it, there were going to be requirements. Ones that would help UBS and completely destroy Credit Suisse. One of these requirements was that the Swiss regulator would agree to a write down of a tier of investments. And with the stroke of a pen, seventeen billion dollars disappeared into thin air. In this video I'm going to break down what happened over the last few days, and the lawsuit that was just filed by the people who effectively got their money stolen.
How Switzerland Stole $17 Billion From Credit Suisse
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