According to insiders, the Swiss authorities want to prevent the global financial system from being infected by the ailing Credit Suisse with an elephant wedding. Switzerland’s regulators are urging UBS to gobble up its smaller local rival, two people familiar with the situation told Archyde.com. State guarantees are a prerequisite for a deal that was frantically negotiated on Saturday.
Supervisors are pushing for an emergency takeover of Credit Suisse by UBS companies
