When One Zombie Eats Another: Why UBS’s Rescue of Credit Suisse Changes Nothing

When One Zombie Eats Another: Why UBS’s Rescue of Credit Suisse Changes Nothing
Credit Suisse headquarters in Zurich, Switzerland, on Oct. 4, 2022. Arnd Wiegmann/Reuters
Michael Wilkerson
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Commentary

What happens when one zombie eats another? All the disgusting and fetid zombie parts of the consumed simply move to the consumer. The same is true of zombie banks. When one zombie bank—full of death and corruption but better at hiding it due to superior cosmetics—eats its more visibly ill and compatriot zombie bank, is the underlying rot somehow purified or made whole?

Michael Wilkerson
Michael Wilkerson
Author
Michael Wilkerson is a strategic adviser, investor, and author. He's the founder of Stormwall Advisors and Stormwall.com. His latest book is “Why America Matters: The Case for a New Exceptionalism” (2022).
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