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Business
See other Business Articles Title: Credit Suisse Craters After "Staggering" Bank Run And Warning Of Continued Losses
Source:
Zero Hedge
URL Source: https://www.zerohedge.com/markets/c ... um=wnd&utm_campaign=syndicated
Published: Feb 11, 2023
Author: Tyler Durden
Post Date: 2023-02-11 00:40:52 by Charles_Byrd
Keywords: None
Views: 84
Back in late 2022, when Credit Suisse stock cratered to never before seen levels after a series of dismal earnings reports and regulatory "missteps" sparked a staggering bank run, amounting to some $88 billion forcing the bank to seek emergency liquidity from the Fed via SNB swap lines, and which also led to a historic corporate restructuring which included the de facto closure of the bank's investment bank coupled with mass layoffs and bonus cuts, many thought that would be as bad as it gets as the (rapidly changing) management had finally thrown out the kitchen sink. Boy, were they wrong. Click for Full Text! Post Comment Private Reply Ignore Thread
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