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0x11C3P t1_jef1lwp wrote

This minus last conspiracy. Bondholders, even AT1, should have gotten paid out first over equity holders.

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frobinhood t1_jefdzv6 wrote

no it shouldnt have because even in their disclosure it was above stocks in the order of write offs. the swiss follow the exact letter of the law. the only reason other countries are "distancing" themselves from it is because they dont want a mass sell off on that type of security, which was always meant to be risky thus the high yield. It is also why people are "considering" legal actions instead of wasting money fighting it since they have no case. read CS's disclousre for those bonds, they got a chart describing exactly that.

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