The just solution here is to let CS fail, and jail the executives if they find evidence of fraud or other crimes. Make the depositors and bond holders whole to prevent contagion.
Isn't that effectively what Glass-Steagall, a law passed after one of our previous massive failures, mandated?
> These private companies can't make huge profits off of deposits in good times
If they were, then why were interest rates so low? Either way, I figure the river of low interest government money was what made them so profitable, and now that this tap is turned off, the reason they're immediately failing.
> insured by tax payers in bad times.
If deposits equated to profits, then what is the current source of "stress?"
Given the retail bank is highly profitable wouldn't it make sense to then keep the whole thing going and figure out how to re-privatize it at a later date?
Because of the EU, more info is shared.
And they’re also very dated. Wire transfers are next day only (minutes to hours in the EU), Apple Pay only arrived a couple years ago…
There is much better banking in all fronts to be had elsewhere. But nationals are forced to use national banks.
The SNB tried to just give them money but as you said the name is so toxic at this point you need new management which is either UBS taking control or the state.
That's coming in any case. The water is out for miles.