Credit Suisse Is in Deep Trouble [View all]

[UpInArms]

Cutting to the chase …

The No. 2 Swiss bank and one of the largest banks in the world is in deep trouble and is currently fighting for its survival. A negative outcome is likely to cause a shock similar to that caused by the bankruptcy of the U.S. bank Lehman Brothers in September 2008. This event triggered one of the most serious financial and economic crises since the Great Depression.

… huge snip of tons of info …

"In the same business, it also found a failure to control limit excesses across both lines of defense as a result of an insufficient discharge of supervisory responsibilities in the Investment Bank and in Risk, as well as a lack of prioritization of risk mitigation and enhancement measures (such as dynamic margining)."

To avoid filing for bankruptcy, Credit Suisse has promised to present a strategic plan on Oct. 27. This should include the divestment of investment banking activities, the black sheep, speculate the markets.

More at …

https://www.thestreet.com/investing/credit-suisse-is-in-deep-trouble