Banking system on the brink
The situation has gone from bad to worse for the world’s financial markets. After three bank collapses in the US and one in Switzerland, the markets are looking for the next weak link.
The situation has gone from bad to worse for the world’s financial markets. After three bank collapses in the US and one in Switzerland, the markets are looking for the next weak link.
The takeover of Credit Suisse (CS) by UBS exposes the massive instability of the global financial market. It is an expression of the rottenness of the world capitalist system. As always, while the bankers gamble away, the working class has to pay.