Comment by sschueller

Comment by sschueller 7 months ago

Switzerland paid restitutions and changed it's laws which can't be said for crimes committed by many others. While the past should not be white washed it's been 80 years now.

A better question is how many banks does Switzerland still have? UBS is threatening to leave if they need to meet the new capitalization requirements the government wants.

speedgoose 7 months ago

It’s still somewhat of a current topic though.

https://www.wsj.com/finance/banking/nazi-ties-to-credit-suis...

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sschueller 7 months ago

Interesting
I'm sure UBS will try to claim that they didn't aquire the liabilities of CS just like Bayer and Dow try too with their acquisitions. However since this acquisition was basically forced upon UBS they would probably have a much better chance in court...

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seanmcdirmid 7 months ago

Private banks are very different from consumer banks in Switzerland. You might as well consider them as different kinds of things.

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sealeck 7 months ago

> A better question is how many banks does Switzerland still have?

Something like 9% of Swiss GDP comes from banking and insurance.

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