What led to Credit Suisse’s share slump as fears rise about a global banking crisis?

Credit Suisse said on Thursday it would borrow up to $54-billion from the Swiss central bank to shore up liquidity after a slump in its shares and bonds intensified fears about a global banking crisis. Analysts said they think that might not be enough.A string of scandals over many years, top management changes, multi-billion dollar losses and an uninspiring strategy can be blamed for the mess that the 167-year-old Swiss lender now finds itself in.

Credit Suisse confirmed last month that clients had pulled 110 billion Swiss francs of funds in the fourth quarter while the bank suffered its biggest annual loss of 7.29 billion Swiss francs since the financial crisis. In December, Credit Suisse had tapped investors for 4 billion Swiss francs. In the early days of the global financial crisis in 2008, UBS took on Singapore sovereign wealth fund GIC as an investor but the stake sell-down ultimately resulted in a loss for GIC.

SVB acted like a hedge fund - which do not have to meet payrolls on a daily basis.

Debt swaps .. Ya know more and more corruption .. This isn't going to hold much longer when world banks will collaspe .. Train wreck dead ahead .

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