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  • Credit Suisse sued by U.S. shareholders over finances, controls

    From cnbc.com

    U.S. shareholders of Credit Suisse Group AG sued the Swiss bank on Thursday, claiming that the bank defrauded them by concealing problems with its finances. The proposed class action accuses Credit Suisse of deceiving investors by failing to disclose that it was suffering from “significant” customer outflows, and that it had material weaknesses in its internal controls over financial reporting. Shareholders led by Braden Turner said that as the truth became known, and Credit Suisse’s largest shareholder said it would not put more money into the bank, investors fled, causing losses as Credit Suisse’s stock ... (full story)

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Shareholders crying cause they gambled and lost. Should've read the on line sites. Credit Suisse have been under the hammer for months. Hey can I sue someone for a lost trade a month or so back, the market failed to disclose to me price was going in the opposite direction.
Well as management I suppose you are still accountable (or at least should be) for correct financial reporting. Same with their auditors. But we all know that Swiss and Deutsche is run by crooks so ...
Should have kept the legendary bank secrets and not reporting to Finanzamt.
The Sky Is The Limit Return Today: -2.7%
BTW CHF used to be a safe heaven during chaos, but no more now.
Yen and gold are still having this function.
Quoting KennethTam
Yen and gold are still having this function.
I mean it's not too late to buy yen right now.
Quoting Guest
Shareholders crying cause they gambled and lost. Should've read the on line sites. Credit Suisse have been under the hammer for months. Hey can I sue someone for a lost trade a month or so back, the market failed to disclose to me price was going in the opposite direction.
Shareholders are the company’s owners - not the management. Shareholders are investors.
The management are responsible to it’s investors, since they own the company.
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Still if you know how our financial system is built upon debt, it should only come as a surprice that there is debts if you are in the opinion of the masses. For example the nation of the World’s reserve currency the Dollar has the biggest debt in the world and has to raise it’s debt roof every year in order not to default.

So i find it rather cheerful that it’s federal government are trying to point fingers at other banks for mismanagement of finances. Only about 10% of all money can be covered by collateral, the rest is social belief in the system.
#IDDQD Return Today: 0.1%
Wondering where mlns of withdrawals will be stored - cryptomarkets, new investment purchases?
Quoting Jolita
Wondering where mlns of withdrawals will be stored - cryptomarkets, new investment purchases?
I could bury some of it in my back yard under "Ike's" dog house-tight security.
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  • Story Stats
  • Posted: Mar 17, 2023 3:53am
  • Submitted by:
     Newsstand
    Category: Entertainment News
    Comments: 10  /  Views: 2,126

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