So today we saw that Union Bank had confirmed to closing over 400 locations. This can be seen through the following post: https://www.reddit.com/r/Superstonk/comments/mv6k4z/union_bank_confirms_emergency_closing_of_over_400/
The reason this is very fascinating to observe is because it reveals a much deeper image of their collapsing empire. How does it do that you ask? Well, if you look at the Parent company of Union Bank it turns out it is: MUFG Bank.
From wikipedia:
“In August 2008, Mitsubishi UFJ offered to buy the 35 percent of Union Bank it did not already own, which Union Bank accepted.[10] On November 4, 2008, the Bank of Tokyo-Mitsubishi UFJ (BTMU), a wholly owned subsidiary of Mitsubishi UFJ Financial Group (MUFG), announced that BTMU had successfully acquired all of the outstanding shares of UnionBanCal Corporation.[11]
In 2014, MUFG integrated the U.S. operations of its subsidiary The Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU) with those of San Francisco–based Union Bank, N.A.[12]
In April 2018, the Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU) was renamed to MUFG Bank, Ltd.[12]“
So now we go ahead and look at our dear MUFG Bank, and its holdings… and guess what we start to see:
- UnionBanCal Corporation (approx 63% in Feb 2005; 68% in 2004; 100% in 2008)
- Chong Hing Bank (9.66%)
- Morgan Stanley (22.41%). On September 29, 2008, Mitsubishi UFJ Financial Group announced that it would acquire a shareholding in Morgan Stanley for US$9 billion. In the midst of the October 2008 stock market crash, concerns over the completion of the Mitsubishi deal caused a dramatic fall in Morgan Stanley’s stock price to levels last seen in 1994. Morgan Stanley’s share price recovered considerably after Mitsubishi UFJ closed the deal on October 14, 2008.[15][16][17][18][19]
- The payment from MUFG was supposed to be wired electronically; however, because it needed to be made on an emergency basis on Columbus Day when banks were closed in the US, MUFG cut a US$9 billion physical check, the largest amount written via physical check at the time.[20][21] The physical check was accepted by Robert A. Kindler, Global Head of Mergers and Acquisitions and Vice Chairman of Morgan Stanley, at the offices of Wachtell Lipton.[22]
- Bank of Ayudhya (76.88% on January 5, 2015; 72% on December 19, 2013)[23]
Morgan Stanley is a familiar name to all apes. First remember that Morgan Stanley had also: https://www.reddit.com/r/Superstonk/comments/ms1bus/morgan_stanley_posts_911_mln_loss_tied_to/
And most importantly let us not forget this wonderful source confirming ARCHEGOS CAPITAL WAS LIQUIDATED OUT OF SHORT POSITION IN SECOND LATE FEBRUARY $GME SHORT SQUEEZE:
The web is connected, and it has been never more clear to see through it. WE ARE ONLY STARTING TO SEE A GLIMPSE OF THIS CATASTROPHE UNFOLD. It is all collapsing and burning behind the scenes and there is BUT ONE ROCKET OUT OF THIS APOCALYPSE, THE ROCKET THAT THEY TRIED TO BRING DOWN SO HARD THEY ENDED UP DESTROYING THE WHOLE WORLD WITH IT. Remember, the majority of analysts, economists, financial advisors, money managers, and whoever the fuck else you think has credibility and ”experience” in the market, actually are the equivalent of people who bet on sports. Sure based on research and experience you may know where to place your sports bet on a regular match, but THIS HERE IS NOT A REGULAR MATCH AND WE CAN CLEARLY SEE THIS IS LITERALLY ANOTHER 2008 IN THE MAKING… I KNOW YOU ANALYSTS DONT KNOW WHAT THE FUCK IS GOING ON BEHIND THE SCENES AND THINK THIS IS JUST ANOTHER STOCK PLAY… BUT REALLY IT IS NOT. SO STOP WITH THE ANALYSTS SAY THIS, ANALYSTS SAY THAT… 2008 FLEW OVER ALL THEIR HEADS, AND GUESS WHAT, THIS ONE IS GOING TO TOO.
Edit: Adding very interesting comment below from /u/DeityofDeath:
“No clue if this is related but ex British PM David Cameron is currently being investigated for lobbying with Greensil capital. Greensil capital got liquidated out the same time as archegos capital got margin called. both were connected to credit Suisse and they are taking massive losses.
Ironic a scandal comes out of a collapsing british credit company.
also, new proposed european football “mega” league from JP morgan gets the go ahead the weekend after JP Morgz do an incredible bond sell off, then the league gets cancelled tuesday right after they have made their money from the news hype. Seems like short shorts”