Article

2023-05-18 Economy

'We were rushed into it': UBS bosses say they were hurried into snapping up stricken Credit Suisse and flag mammoth potential costs

[Daily Mail, where America gets its news] It is the fiduciary duty of the boss class to take the time to do due diligence. If they did not dig in their heels long enough to do so, that’s a fireable offense.

UBS said it had less than four days to conduct due diligence for the deal

UBS reckons it will take a $17bn hit after snapping up Credit Suisse

Posted by Skidmark 2023-05-18 00:45|| || Front Page|| [11131 views ] Top

#1 Rushed?
Or pushed?

Is seems to me that non-woke solvent banks always have the debts of woke bankrupt banks that are in the business of social change, the debts for this activism always gets dumped onto the solvent banks. Too big to fail - they re called.

Posted by mossomo 2023-05-18 12:54|| 2023-05-18 12:54|| Front Page Top

#2 It's a bank forfokssake. Everything should be documented in excruciating detail in a computerized manner.

The banks and the auditing firms have conspired to create a mess that not even they can unravel.

Posted by M. Murcek 2023-05-18 12:58|| 2023-05-18 12:58|| Front Page Top

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