Credit Suisse crashes to record low as it warns of 'material weaknesses' in its financial reporting
https://www.thisismoney.co.uk/money/markets/article-11860583/Credit-Suisse-crashes-record-low-warns-material-weaknesses.html
"It revealed the firm had identified 'certain material weaknesses in our internal control over financial reporting' for 2022 and 2021."
That's one way of saying you are broke I guess.
https://www.thisismoney.co.uk/money/markets/article-11860583/Credit-Suisse-crashes-record-low-warns-material-weaknesses.html
"It revealed the firm had identified 'certain material weaknesses in our internal control over financial reporting' for 2022 and 2021."
That's one way of saying you are broke I guess.
How big are they?
In 2021, Credit Suisse had assets under management (AuM) of over CHF 1.6 trillion. On February 9, 2023, the bank reported an annual loss of CHF 7.3 bn, the biggest loss since the 2008 global financial crisis.
Another bank collapse will send Bitcoin over 30k$ imho
yeah has multiple holdings. I found one that was 700 billion if totals are 1.6 trillion lets see the mofo fail.
Not looking forward to that possibility, although if you look at this bank's stock chart since 2008, you could surmise that something was off.
They are staggering.
I wonder if the fed will raise rates end of month. I have heard a few so called experts say now the fed can not raise rates any higher.
if no new news, they will probably do 25bp, but it is not relevant longer term as they will start easing soon (or at least pause for a while).
