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Swiss bank tells clients to dump US securities...
Anonymous
Posted: Saturday, August 13, 2011

Posted: 8/25/2009 7:57:09 PM

By: Why

Are they going to deprive the traders of cheese and chocolates?

Yodel-eh-eee-hooo!


Internal Administrator
Posted: Saturday, August 13, 2011
Joined: 10/12/2010
Posts: 5779


Posted: 8/25/2009 5:10:42 PM

By: Bear

Will this create another market crash?

http://online.wsj.com/article/BT-CO-20090825-710081.html


Anonymous
Posted: Saturday, August 13, 2011

Posted: 8/26/2009 4:27:52 PM

By: Sell, Sell, Sell

This is just a start. Many other banks will follow. It has just become too onerous to deal with US securities for non-US banks. Since the US stock market has had a negative performance over the past ten years, nobody will really miss losing money on US stocks.


Anonymous
Posted: Saturday, August 13, 2011

Posted: 8/26/2009 1:21:06 AM

By: tilssiter

It is a small Swiss private bank, Wegelin, that has decided this...I cannot see how it will cause a market crash because they dont buy on their name but for account of clients..So if a client wants US shares in his portfolio, he'll have to turn to another adviser...With open wealth management platform structure it is easily done.


 

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