What Is Happening At Credit Suisse And Should We Be Worried About It?

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The bank has been forced to borrow up to £45 billion from Switzerland's central bank

 

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Credit Suisse to Get Liquidity Backstop if Needed, Regulators SaySwitzerland’s central bank and financial regulator said Credit Suisse will receive a liquidity backstop if needed Rewarded for bad behavior as usual FFS how can this keep happening? The people who run these financial institutions need to go to jail, see if they're so willing to play fast and loose with other people's money is there are proper consequences for their ineptitude!
Source: TIME - 🏆 93. / 53 Read more »

Credit Suisse secures £44.5bn lifeline amid fears of global financial crisisSwitzerland's second largest lender is the first major global bank to be given such a lifeline since the 2008 financial crash. The bank said it was 'taking decisive action to pre-emptively strengthen its liquidity'. Good to see the Swiss in the 💩 when they refused to help Ukraine with weapons and ammo How many more have 'material weaknesses' in their financial statements ? Let's ask the Big 4 Accounting firms ? RosieCollingto MazzucatoM gabriel_zucman cooper_m NTBreakfast ‘When asked if he would rule out government assistance in the future, he replied: 'That's not a topic... We are regulated. We have strong capital ratios, very strong balance sheet. We are all hands on deck, so that's not a topic whatsoever.'’Meaning, ‘No, we will not rule it out’
Source: SkyNews - 🏆 35. / 67 Read more »