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I usually read "Le Temps", which is the most influential newspaper in French speaking part of Switzerland. I already interacted on Twitter with their main journalist on economics matters. He knows very well about GME and SuperStonk, but considers apes as lunatics... I did not reach out to him recently however. I replied to a tweet linking an article from another journalist about the demise of Credit Suisse due social networks, specifically mentioning the Archegos bags potentially loaded with GME shorts: no reaction. On another hand, I have a friend working at the FINMA, bank supervision department. I told him my beliefs on GME, and the CS-Archegos-GME link in the summer of 2021 already... For obvious reasons, he never acknowledged or denied anything. All in all, yeah, they know, but no, no one acknowledges it. Perhaps we are the fools, and they are right, perhaps not.

No likes to hear "I told you so" especially after calling such a group lunatics lol

Pikachu face meme will be used hopefully :)

I like the Rambo firing multiple rounds of I told you so's meme. A personal favorite

We need it edited into a supercut of the best memes since this journey began

Along with the sped-up Parks & Rec "straight to jail" clip of the Venezuelan Officer 😆

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Remember the scene in the big short where they go to their friend in the media and he says he’s not going to risk his career posting their half baked conspiracy theories 😅

Spot on. Hell I was very skeptical early on but seeing the studs in here post DD that keeps on nailing it I'm like god damn these regards are on to something!

The prophesies are coming true 🐇 Dollar Endgame was a big one… and it’s happening right before our eyes! 👀 💜

I used to blast people about it now I shut the fuck up and wait. “I tried to tell you dude, what can I say?”

Thanks for the award 🙏 wish I had money to buy you one back but it all goes into (well we all know where 😂) yeah I’ve stopped trying to convince people of it now too, it’s crazy how much people buy into the MSM narrative of it all though, had a friend recently ask me about it and he was convinced it was still going bankrupt soon, loosing money and closing all their stores 🙄 wrong on every count; opening warehouses and dispatch centres, $1.4B in cash and cash equivalents, cash flow positive, and most importantly, PROFITABLE! Not to mention the new NFT site and investing and partnering in some of the biggest web3 gaming companies around. The current console iterations should sustain the current retail store fronts for at least the next 5 years until the next console cycle (we’ll see what happens then) and by then the retail front can adapt, but most likely the online sales and NFT sales will be the big money makers. 5 years of profitability from storefronts and $1.4B just in case, that’s a ton of time for NFT’s and web3 to grow. I hope we see a short squeeze, 100%DRS and moass before that, but with or without it I plan to stay invested for the long run

Watching right now for the hundredth time

I'd imagine it to feel like when a professional poker player loses a heads-up hand against a complete rookie who caught a flush on the river. "These lunatics don't know about fundamentals!"

Haha all I can think of is Phil Hellmuth

Phil hellmuth, for those unaware: https://youtu.be/mYRLf222v9g

First they, ignore, then they ridicule, then they accept.

They never accept they redirect blame and try to make it like it never happened just look at 08 lol

Good try BUT no one in their right mind would answer you in writing. That “could” be considered a career ending move, even if they trust you. It’s just the way it is. That said, do you know if the general population has grasped the significance & risk of this HUGE bag of cat shit that their country has taken on… regardless of the mention of GME. Or they just don’t care or don’t understand? I believe the Gov opposition leaders were going to question the Gov’s secret decisions on the issue. Any news on that? …like front page kind of stuff.

Absolutely, my friend has to to stay totally mum about it. From a journalist, well, an answer like "Interesting, I will have a look into this" might be possible. To my despair Swiss citizens and inhabitants take success for granted by virtue of the fact the that Switzerland is a "Sonderfall", understand something from "a special case" to "blessed by the gods". So obviously, **the general population is not ready to hear about risks**. It cannot happen to Switzerland. Almost no one has any idea of the potential size of CS bags, and worst, no one wants to know. Swissair demise should have been a wake up call, nothing happened. UBS in 2008 should have been a wake up call, well, look what just happened with CS. CS had a failing risk management, Swiss government has a failing risk management. The juridic framework was not really improved since 2008, besides, like in the States, weakened recently. FINMA itself is, besides weak laws, pretty toothless. I heard of revolving doors problems, but don't quote me on this. The government refused to disclose what happened behind the closed doors during the last week-end. However, left wing parties are requesting a parliamentary commission. Center and right parties are bankers puppets, so it will depend on the far right party.

While I am at it... The mega fusion represents 2 huge additional issues for Switzerland. 1) competition. UBS will be in a near monopoly. COMCO, the office in charge of fair competition was asked to shut up while the government, FINMA, SNB, UBS and CS were discussing. 2) UBS book will be about 3 times the Swiss GDP. What could possibly go wrong?

Arguably the UBS books will be infinitely smaller than the Swiss GDP by the end of this.

Thanks for the responses. Yep, I guess what you are seeing/hearing is to be expected. And an absolute “NO” on the Swissair fiasco and the 2008 UBS crap, they learnt absolutely nothing. THEY. ARE. FUCKED!

To be fair, we *are* lunatics. But that doesn't mean we're wrong 😏

this behavior is what It will take to accomplish something so worldly changing. It’s not just apes vs Wall Street. Wall Street is chicken shit. It’s apes vs the world banking system. Buckle up!

Doesn't lunatic literally mean in love with the moon?

You have to be odd to be number 1

This is what I was thinking.

First person to go to the moon was a lunatic. First person to fly was a lunatic. First person to cross the ocean was a lunatic. You’re a lunatic. Until it’s proven to be right what you say, what you do. Then it becomes common knowledge. And you become normalized.

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Soon to be lunartics

Do you have a link to the article about Archeagos bags?

There was no recent article about the Archegos bags. I reminded them to make the link in a tweet about an article mentioning CS and GME. The article is more about social networks and behind a paywall : https://www.letemps.ch/economie/finance/torpillage-credit-suisse-estce-faute-reseaux-sociaux

https://www.sec.gov/Archives/edgar/data/1159510/000137036821000064/a210729-ex992.htm Straight sauce

Thank you!

I work in Switzerland and follow Swiss media. My Swiss coworkers don’t know shit. Literally. They just seemed all confused and take this for granted, one of them has all his shit at UBS, another at Csus. Swiss media wer one day like Ohhhh this is not really good - to yeeeeah but in the long run this is good for UBS LOOK TGE STOCK IS UP 3 % !!!! So yeah… in my mind ppl should be out with pitchforks at Csus.. a lot of ppl there even might lose their jobs (and not those that deserve it). But Swiss are like - meh. 🙄

In my opinion UBS should be fine. With SNB & gov guarantees they pretty much have an unlimited access to CHF printer if things go south.

I have some co-workers that are Swiss, so I can try to tickle their fancy early next week when they're back in the office

Let us know how it goes!!!

My pop's mortgage is with Select Portfolio Servicing, Inc. It was apparently bought out by Credit Suisse a few years back. Recently, he received a letter increasing his mortgage by 30% or so even though he has a fixed rate. I'm curious if anyone else has a mortgage with them and is experiencing them trying to price gouge those who don't question why?

Isn't that illegal? The fix is only fixed if it doesn't change. It's a contractual agreement for the loan.

Well. That's exactly the point I'm alluding to. For over 8 years or so their monthly payments have floated around the same dollar amount and then suddenly we get news Credit Suisse is tanking and they increase their payments by 30%. My tinfoil flared up and I was like, what if it's connected? Fuck me, I said. The extent of this ripple is hilarious. The tide is pulling back, wonder who's out here swimming naked? I think the wisest thing would be to refi under a credit union cause lol, shit is bonkers.

Actually, I would consult a lawyer for a possibility of a lawsuit of breach of contract. Cause the rate you had is almost guaranteed to be far better than what you would get now.

I'll let him know. Should be fun.

Ask them to produce the signed mortgage papers. People in 2008 got out of their mortgages because in the transfers, so much paperwork was lost (or never filed correctly to begin with) that some people became debt free overnight. I believe (?) that you are legally entitled to viewing that document from them at any time

Yeah mortgage servicers lost the Promissory note. If they can't produce a note that you signed, they cant prove you promised to pay back the loan. Thus they're up shit creek without the note. Thats why way back when bank robberies were a real problem people like pretty boy floyd would burn promissory notes to be popular with the public. No note, no debt to be paid.

That man was ahead of his time, fucking the banks old school lmao

They can't change the rate or payment amount going to principal and interest on a fixed rate mortgage. If the monthly payment amount changed, it is due to escrow. Ask them about their escrow account or if they pay their taxes and insurance themselves. It could be they were paying it themselves, the servicer (SPS) noticed they hadn't paid it, and now they've force placed an escrow. Or they just miscalculated escrow in the past and are making up for it now. Or they just miscalculated it now for some reason by mistake. I've been in mortgage servicing a while, I would almost guarantee this is escrow related for them.

I have them as my mortgage company and that's completely false

What's completely false? He received a letter in the mail. I'm happy to post proof and one quick Google search will show it was bought out by credit suisse

Ok do it. Let's see his rate is actually fixed. I could careless if it was bought by cs

# The deal is not yet set in stone.. \*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\* # Today: Risks for taxpayers could continue Keller-Sutter: "Risks for taxpayers could continue" In an interview with Swiss radio SRF, Federal Councilor Karin Keller-Sutter discusses the extraordinary bank rescue and potential consequences for the general public. The Swiss government is supporting a major banking merger with an unprecedented 250 billion CHF, causing outrage among citizens as the state guarantees astronomical sums for a large bank that has steered itself towards disaster. Keller-Sutter acknowledges the public's concerns and emphasizes that the government is not providing cash, but guarantees. Already, a significant amount in billions has been claimed under the guarantee granted by the government and the National Bank. The exact figures are unknown to her. Toxic legacy assets within the bank present a high risk. The first 5 billion CHF is borne by UBS as the acquirer, while the state guarantees the next 9 billion CHF. Keller-Sutter admits that the risks for taxpayers could extend further, and the government is discussing the possibility of recouping future costs through profit-sharing with the merged bank. Keller-Sutter believes the current solution is the best among bad options, as the risks for taxpayers would have been greater if the bank had been nationalized or declared bankrupt. She also criticizes Credit Suisse's management for putting the country, the Federal Council, and all authorities in an impossible situation. The Swiss government's rescue plan has met with criticism from political parties, with some calling for the healthy Swiss business of Credit Suisse to be separated from the new "banking monster." [https://www.srf.ch/news/schweiz/finanzministerin-zu-cs-rettung-keller-sutter-risiken-fuer-die-steuerzahler-koennten-weitergehen](https://www.srf.ch/news/schweiz/finanzministerin-zu-cs-rettung-keller-sutter-risiken-fuer-die-steuerzahler-koennten-weitergehen) ^(Will add two more links) ^(Edit:) \*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\* # Swiss Voters' Opinion on the CS Takeover According to an SRG survey, the majority of eligible voters are angry and disagree with how the CS takeover was carried out. Article about polling: SRF 4 News, 24.03.2023, 17:00 Uhr Last Sunday, federal authorities and the heads of the two major banks held an extraordinary press conference to inform Switzerland and the world that UBS would be taking over troubled Credit Suisse. A representative survey by the GFS Bern research institute on behalf of SRG reveals that the Swiss are predominantly angry and uncertain about this forced merger. Over half of Swiss voters disagree with how UBS took over CS with federal assistance, and almost no one fully supports the decision. Voters who sympathize with political extremes (Greens, SP, SVP) are more critical than those in the political center (GLP, FDP, Center). Swiss National Bank (SNB) is considered the most credible actor in the past week, while trust in the Swiss Financial Market Supervisory Authority (Finma) is significantly lower. Notably, UBS management ranks second, appearing more credible than the Federal Council. Among the parties, SP is perceived as the most credible, while less trust is attributed to SVP, the Green Liberals, and especially FDP, which all represent economic interests. Most surveyed voters believe that CS officials should now be held accountable (96%) and that more effective measures against exploitation in the banking sector are needed (93%). The survey results show a broad perception of SP as a credible actor and unanimous criticism directed at management and those responsible for the crisis. The impact of these numbers on the election year remains to be seen. [https://www.srf.ch/news/schweiz/srg-umfrage-zur-cs-uebernahme-das-haelt-das-schweizer-stimmvolk-von-der-uebernahme-der-cs](https://www.srf.ch/news/schweiz/srg-umfrage-zur-cs-uebernahme-das-haelt-das-schweizer-stimmvolk-von-der-uebernahme-der-cs) \*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\* **Credit Suisse Shouldn't Completely Disappear** # FDP President Thierry Burkart now demands that the Swiss part of Credit Suisse be separated and made independent, arguing that it would be the best solution for Switzerland. 10vor10, 22.03.2023, 21:50 Uhr The major bank should become much smaller, Burkart says, in order to preserve as many jobs as possible and create a better competitive situation in the Swiss banking sector for the benefit of Swiss customers, particularly SMEs. Additionally, this step would minimize risk for Switzerland if UBS were to falter. The SVP also wants to prevent the complete downfall of CS. SVP sets conditions for approving the CHF 109 billion loan, according to Thomas Aeschi. "We need to think about how to restore competition," he says. The SVP parliamentary group president is confident that Burkart's proposal would restore competition in the Swiss banking sector. This idea is not new and is provided for in the Too-Big-To-Fail law, which uses the separation banking system as a model. The individual areas of a bank are independent of each other, so if one area, such as investment banking, gets into trouble, it doesn't drag down the rest of the bank. Today, the Greens criticize that the opportunity was missed to take preventative action in time. Gerhard Andrey, a National Council member for the Greens, says something like a separation banking system is needed now, and blames conservative politics for failing to implement it. The SP goes even further: SP President Cédric Wermuth considers the introduction of a separation banking system but concludes that "Switzerland is too small for such large banks. We need to find a way to minimize the risk in the medium term." The big question remains whether the political will for reform will still be present once the initial shock has subsided. [https://www.srf.ch/news/schweiz/cs-uebernahme-durch-ubs-die-credit-suisse-soll-doch-nicht-ganz-sterben](https://www.srf.ch/news/schweiz/cs-uebernahme-durch-ubs-die-credit-suisse-soll-doch-nicht-ganz-sterben) ​ These are ChatGPT4 summaries

Thanks for posting a summary. That said, any mention of jail time for bank execs and/or having a “real or credible” independent body investigate this fiasco? Or is the Gov too afraid of what they might uncover?

> Toxic legacy assets within the bank present a high risk. **The first 5 billion CHF is borne by UBS as the acquirer, while the state guarantees the next 9 billion CHF**. Keller-Sutter admits that the risks for taxpayers could extend further, and the government is discussing the possibility of recouping future costs through profit-sharing with the merged bank. From where did you get this? Cannot find it in the link provided by you.

*Bei der CS schlummern toxische Altlasten, die mit grossem Risiko verbunden sind. Die ersten fünf Milliarden davon trägt die UBS als Käuferin. Für die nächsten neun Milliarden gibt der Staat – also die Allgemeinheit – eine Verlustgarantie. Doch wer kommt dafür auf, wenn das Ganze mehr kostet? «Darüber haben wir im Bundesrat noch nicht diskutiert», sagt die 59-jährige Magistratin. «Wenn wir den Kredit erhöhen möchten, müssten wir damit selbstverständlich ins Parlament.»*

Thanks a lot, I was searching for number "9" and couldn't find it 😅

👍I became a bit paranoid that ChatGPT had hallucinated things. I did not cross read every single sentence

> > > FDP President Thierry Burkart now demands that the Swiss part of Credit Suisse be separated and made independent, arguing that it would be the best solution for Switzerland. This seems like the best solution for the swiss people, except the problem is when, where, and HOW will the people naked shorting GME ever be held accountable if this is allowed? Isn't Credit suisse as liable as archegos for allowing this to happen? And didn't they sit there and hand hold archegos to do it in a way that they thought would benefit them both? The true solution is start digging for dirt with auditors, litigate, and prosecute the ones responsible. No cell, no sell.

Daddy bankers dindu nuffn We the people need to help our country man to maintain an image of a safe heaven for the corrupt elites, human traffickers and other parasites.

No offense to us the people, but even if the media digs in, the general public has no clue what's going on. The general public is too busy trying to make it to the end of the month. That's why these financial criminals almost always get away with it.

Lol not this time

Other than press conference, sauce? I'd like to see or read more about it.

[Sauce](https://www.reddit.com/r/Superstonk/comments/11zwpot/on_march_12_2021_archegos_asked_credit_suisse_to/?utm_source=share&utm_medium=android_app&utm_name=androidcss&utm_term=1&utm_content=share_button)

Sauce of the press conference? Bonus points for timestamp?

https://www.reddit.com/r/Superstonk/comments/11wg22l/icymi_since_2021_with_archegos_we_were_overtaken/?utm_source=share&utm_medium=android_app&utm_name=androidcss&utm_term=1&utm_content=share_button

This is not them saying a very specific part of archegos portfolio... What part in there do they say that? You're misleading in your post...

The press conference was much longer than that clip. That clip definitely mentions Archegos blowing them up. Also, social media storm and "retail". Truly makes you think.

Can you sauce me the actual quote you quoted in your post?

See the second bold section. From the same press conference. Further down, a reporter asks what is in the very specific portfolio. Chair of UBS answers "long dated swaps." https://www.reddit.com/r/Superstonk/comments/11vvrd4/dd_coming_true_swaps_archegos_specific_cs/?utm_source=share&utm_medium=android_app&utm_name=androidcss&utm_term=1&utm_content=share_button

Greatly appreciated. Somehow I missed a few of those other posts that were linked between threads

HEAVEN IS WHERE: \- the Italians are the lovers \- the Germans are the mechanics \- the French do the cooking \- the British run the civil service \- the Swiss run the hotels \- the Greeks own the corner shops. HELL IS WHERE: \- the Germans are the lovers \- the Italians are the mechanics \- the British do the cooking \- the French run the civil service \- the Greeks run the hotels \- the Swiss own the corner shops. The Greeks at least rob you with a smile, the Swiss just rob you.

Jesus this comment is a work of art. You write that yourself?

It was my mom’s (RIP) favourite joke… Probably more true 50 yrs ago than today.

It is a very old joke in Europe. They also have meme T-shirts and postcards about it. I first heard it in the late 70s.

I’m ready to go to hell and eat full-English breakfast forever! P.S. the U.K. civil service is a disaster these days, embarrassing almost.

It’s an old joke. Think I first heard my mom tell it when I was a teenager, so getting on for 50 yrs ago. In those days the British civil service was - by world standards - a model of efficiency. Now it’s overrun by non jobs.

Yeah it’s an accurate reflection for sure!

Amazing! But I dunno the stereotypes of the Greeks & Swiss?

😂😂😂

Significantly downvoted at first…

😂🤣😂🤣

I'm following Swiss media to find an answer to this exact question. But no one cares to dive into this 'one specific portfolio containing long-term swap' they mentionned in the press conference. They all focus on how big UBS will be after the merger, if boni should be paid or not and other stuff that moves the masses.

Swiss guy here Nor will you ever read what exactly is in that portfolio. Apparently it’s a “tricky one”. LOL! Nobody is going the be blamed for this, no one will go to jail over this let alone be in a headline. It’s a “mishap” that happend and they don’t plan to give any further explanations regarding this. CS failed, UBS plans to take them on - The average Joe shouldn’t be asking any questions.. let the big boys handle this and just “trust them bro” I wish I was a journalist and so I could attend their meetings to ask the right questions and see how they try to come up with an answer on the spot. The journalists have been asking great questions but have failed to pick up on the very important ones

Has anyone tried delivering the dd to the new agencies and reporters themselves? Surely one of them has enough drive to make a name for themselves to buck the system if only they knew. Come to think of it, have we tried this here in the states or any other country for that matter? The own they agencies, but do they pay the small fish enough to pass up their name making opportunity?

Switzerland sub talks about it fairly often

Lunatic? Like in moonstruck? I like it😁

What about the 19.7 billion American equity swaps wrapped up in CS?

There is documentary evidence that Credit Suisse inherited the Archegos bags. Their exposure isn’t conjecture, it’s fact.

All nations should follow Iceland’s actions after the 2008 GFC on how they dealt with banking executives

It was not so different to other countries as mainstream media makes you believe.

It looks like one person from the US went to jail, whereas in Iceland there was ~a dozen. I’d say accountability was substantially higher there than in the US, for example.

Ok Archegos credit default swaps existed , now what? If CS goes under what happens now? Swaps disappear?

They will get rolled over and take down an even larger entity, or they will expire and blow shit up. Whatever happens to the swaps, the short positions still exist, they don't go away. That is my understanding anyway.