The Blubber

Per reuters:

A bipartisan majority of Americans oppose U.S. taxpayers footing the bill when bad management causes a bank to fail, though Republican opposition to bank bailouts has softened over the last decade, a Reuters/Ipsos poll completed on Wednesday found.

The poll’s results point to a potential political problem for Democratic President Joe Biden’s administration should the signs of shakiness in the U.S. banking sector worsen and prompt more aggressive government action.

The two-day Reuters/Ipsos poll found 84% of respondents — including strong majorities of Republicans and Democrats — think taxpayers should not have to pay to resolve problems caused by irresponsible bank management.

Credit Suisse bankers are now flooding recruiters with job inquiries ahead of the bank takeover. This comes as UBS Group AG is set to acquire the Swiss lender.

According to sources from over a dozen firms, headhunters and other rival lender companies have experienced an influx of calls from Credit Suisse staff. These include locations in Singapore and London, among others outside New York.

A recruiter in Hong Kong said they talked to over 20 senior investment bankers, while a firm in Singapore said they received over 30 questions from private bankers that worked at the Swiss lender. Despite multiple inquiries, the most possible scenario would be only a few hires.

Quest Group's managing director at recruitment, Michael Nelson, gave a statement regarding the situation, giving what he thinks is the most likely scenario. He noted that he guessed that the staffers would be dismissed.

Resd more: https://unusualwhales.com/news/credit-suisse-bankers-flood-recruiters-with-job-inquiries-ahead-of-ubs-group-ag-takeover