'Cheated' Credit Suisse investors confront bank
Shareholders in both Credit Suisse and UBS - which will hold an investor meeting on Wednesday - have been denied a vote on the takeover because of the emergency measures taken by the Swiss government to rush the deal through."This would have led to the worst scenario, namely a total loss for shareholders, unpredictable risks for clients, severe consequences for the economy and the global financial markets," he said.
It's common for middle-class Swiss people, especially the elderly, to invest money in a few shares as a back-up to their pensions. What have they traditionally considered safe? Switzerland's two biggest banks. But now Credit Suisse shares are worth less than 10% of what they were two years ago.
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