Axios, March 28, 2023, “Badwill” Hunting: The Difference Between The Bank Failures Of 2008 And Today
When government intervened to save Credit Suisse and Silicon Valley Bank, a lot of people lost a lot of money — shareholders and some bondholders are zeroed out; senior executives are unceremoniously fired. The acquiring banks, on the other hand — UBS and First Citizens — both ended up with extraordinary gains on their balance sheets.
