Bank bailout could cost Swiss taxpayers billions

Every man, woman, and child could be on the hook for $13,500, the news outlet has calculated Switzerland’s decision to rescue failing investment bank Credit Suisse could be a major burden for the nation’s taxpayers, according to Bloomberg calculations. The Swiss government has pledged to absorb 9 billion Swiss francs ($9.7 billion) of the bank’s losses and provide a 100 billion-franc ($108 billion) public liquidity backstop from the Swiss National Bank (SNB). This means that each resident out of Switzerland’s 8.7 million population will pay 12,500 francs ($13,500) for the bank’s rescue, Bloomberg noted. The deal a

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