Ill keep it short and sweet.
A hedge fund who bet against meme stocks(one in particular starts with a G) imploded in 2021 – Archegos
The lender of Archegos was Credit Suisse, who has just recently imploded. Lets look at the market Cap of CS as they absorbed that position. Funny how the market cap got destroyed day by day after they have been paying the fees to keep this position open since they absorbed it.
UBS knows that CS is holding the meme stock Swap hot potato position so they decide they are going to offer pennies on the dollar as a joke
Swiss gov says no
UBS says fine, well settle because this is a systemic crisis, but we want the swiss government to give us a 100 BILLION dollar backstop to help unwind these positions that are destroyed CS and Archegos
These positions are set to expire on March 25th(sat)
UBS CEO said they are going to attempt to unwind a portion of the position over the course of the next month. Yeah somethings starting to percolate up in that big brain of yours now isn't it.
THIS is what is really going on. Your welcome.
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