"UBS agree to buy Credit Suisse for $ 3.25 billions, about 60 % less than the bank was worth when markets close Friday."
And that was after the share price had cratered over 97% !
All they did with SVB was stave off the immediate issue, but all the problems are still inherent. The problems being that they have driven the economy into a ditch.
The incompetence of the people in charge is staggering. Listen to Janet Yellen - she sounds like the sort of confused old dear that gets scammed out of money and smells of piss. Hardly someone who should be in charge of anything. How does she get in that position?
But they've already said they will play favourites - whether depositors in a bank get ALL their deposits covered will depend on who those depositors are and which political horses the bank has backed.
Expect some cataclysmic failures in the banking system and economy in the coming months.