Discussion Thread.......Possible "Fall" of Credit Suisse Bank.

[Sourdough]

Any breaking news you see reference "Credit Suisse Bank" please post it here.
Note: I don't know the truth about what is going on, but a lot of things could break, this week, this month. I am not trying to be "chicken little", but things are sporting on most or all things financial. Again, I don't know what is happening, possibly nothing.

 

[Sourdough]

Clearly there is "concern". Here are news/stories.
https://www.bing.com/search?q=credi...c=10-13&cvid=6635358fc30e4671bc008c787bfee536

 

[SoJer]

Tracker-Post..

jd

 

[Sourdough]

Three hours ago.

https://www.msn.com/en-us/money/savingandinvesting/credit-suisse-is-in-deep-trouble/ar-AA12vw3K

 

[Magus]

Imminent cascade effect?

 

[Sourdough]

Imminent cascade effect?

Possible......this is the problem with everything super leveraged. This financial "cancer" is nearly everywhere.

 

[Supervisor42]

Possible......this is the problem with everything super leveraged. This financial "cancer" is nearly everywhere.

Ok, I didn't do it .

MSN said: "The second 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.

Nightmare​

A year ago, Credit Suisse had a market capitalization of $22.3 billion. Today, its market value is only $10.4 billion. Credit Suisse shares fell 56.2% in one year to $3.98."

I guess having billions invested in Peloton didn't pay off.
Pretty sure they were knee-deep in the British 'Gilts' too.



(Note that the PTON graph is incorrect because it ends below 0% )

 

[Alaskajohn]

A sort of a fluff piece on some restructuring happening.

https://economictimes.indiatimes.co...st-overhaul-ceo-says/articleshow/94595992.cms

 

[Alaskajohn]

This is a better article than the fluff story above discussing specific troubles the bank is facing.

https://www.msn.com/en-us/money/savingandinvesting/credit-suisse-is-in-deep-trouble/ar-AA12vw3K

 

[Magus]

"But the economy is great!
Says lying Joe Biden.

 

[Caribou]

The people I have been listening to say the banking crisis will start in Europe, spread to Japan, then hit America. This report suggests that they may be right.

 

[Magus]

I heard Europe was getting the bone, then us. Asia is a different page.

 

[Caribou]

I heard Europe was getting the bone, then us. Asia is a different page.

My source referred to Japan as a western power, not an Asian power.

 

[Supervisor42]

It's all ok, the bailout is on the way!
https://www.reuters.com/business/finance/credit-suisse-set-raise-3-bln-euros-new-debt-issue-2022-11-09/

The bank raised three billion euros ($3.01 billion) from the sale by its holding company of a bond due in March 2029, the source said. Investor orders for the bond, callable in March 2028, exceeded 7.5 billion euros and it was priced at a spread of 495 basis points over the mid-swap level, they added.

All is well!

 

[Caribou]

It's all ok, the bailout is on the way!
https://www.reuters.com/business/finance/credit-suisse-set-raise-3-bln-euros-new-debt-issue-2022-11-09/

All is well!

Nothing to see here, move along, move along.

 

[Magus]

Smoke em' if you got em, happy days are here again, Wheeeeeeeeeeeee!