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Comment by newaccount2023 | Hacker News Reader

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newaccount2023·

CS would be insane to accept that price

Their CEO can just turn this into a game of chicken, since it is the depositors who are at risk, not him

And if the sale is being forced, why even offer $1 billion? Just threaten jail time and take CS for free

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> UBS has offered to buy Credit Suisse for up to $1bn, with Swiss authorities planning to change the country’s laws to bypass a shareholder vote on the transaction as they rush to finalise a deal before Monday.

They don't get to say no

Then CS should force the price to $0 and let their shareholders vent fury on regulators

Once again, it makes sense for CS to let this go scorched-earth

What’s the upside? CS managers get a reputation for being emotional toddlers who can’t be trusted near anyone’s money ever again?

Intentionally producing a worse outcome for your own shareholders in the hopes you can blame someone else just doesn’t seem like a very sane thing to do.

I don't understand, can the government change the law as they wish any time they wish? The last I heard, Switzerland is a democracy.

Why would that be undemocratic? That’s how democracy works you elect a government and their job is to make laws.

The democratic part is that the government was elected to begin with, and if the voters do not like the changes to any laws, they can vote for someone else in the next election. But yes, the point of a democraticly elected government is that they are empowered to make, change, or eliminate laws as they see fit for the duration of their elected term.

Switzerland is quite special case, but in general governments can do just about anything as long as they have support of parliaments.

I think you cannot say that in public (jail time)

CS is already worthless, there s no upside for UBS at all, except to keep their swiss charter because the gov threaten them...

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