Credit Suisse takes a dump...

[shri]

Not sure if tech or crypto bros are responsible for this one..

Credit Suisse’s largest investor, Saudi National Bank, said it could not provide the Swiss bank with any further financial assistance, according to a Reuters report, sparking the latest leg lower.

In recent days, a crisis in the financial sector has centered around regional banks as Silicon Valley Bank and Signature Bank collapsed, both casualties of poor management in the face of eight interest rate hikes by the Federal Reserve in the last 12 months. Wednesday morning attention turned to the big banks with shares of Credit Suisse hitting an all-time low.

Credit Suisse shares tank after Saudi backer rules out further assistance

https://www.cnbc.com/2023/03/15/cred...ndroidappshare

[aw451]

This has been going around my finance bro WhatsApp groups since last week

[shri]

This has been going around my finance bro WhatsApp groups since last week

Watch out for the next bank with S ... Your graphic is missing Signature.

[redslert]

CS is dead because they just admitted their annual financial reports has not been accurate. There's no coming back from such an admission.

[huja]

CS has been swirling around the toilet bowl for some time now. Have a good friend there.

[shri]

CS is dead because they just admitted their annual financial reports has not been accurate. There's no coming back from such an admission.

So it's time to blame auditor bros?

Or do we blame Canada?

[aw451]

Watch out for the next bank with S ... Your graphic is missing Signature.

The Schwab graphic is also floating around but I will wait for hindsight to look like a smartass

[shree711]

Credit Suisse is systematically important so it probably means that they have a good chance of a bailout.

[pin]

UBS being forced to step in?

[mrgoodkat]

https://uk.investing.com/news/stock-...eepens-2951256