Zerohedge: Credit Suisse Craters To Record Low After Revealing Staggering $88 Billion Bank Run
12 Replies to “It’s Probably Nothing”
Too big to fail but not too big to not bail out. They’ll fail anyway, and those billions of US dollars pumped in will be lost, pushing inflation here even harder and raising the debt level. I wonder which child employees are to blame, some more Brinkman-Fried altruistic con artists?
I believe that the technical term for this, in high finance circles, is “ooopsie doodles!”
Next month in The Atlantic: Let’s Declare a Global Economic Collapse and the Widespread Appearance of Cannibalism Amnesty
Bigger question, why is the US fed bailing out Credit Suisse, a Swiss bank?
Hunter and … “the big guy” … are rather large Swiss depositors?
Swiss Banks are failing?
Swiss banks previously were so conservative, that trouble there used to mean big problems with all banks. Now it just means they have the same crappy professional management class everyone else has. So Credit Suisse just has the same big problems every other bank has due to lousy management. Do you feel re-assured?
Wait til people realise that Canadian bank mortgages are severely underwater, ie the assets are not worth anything like mortgage amount, and they are no longer being paid. Then we may see multiple bank runs.
Of course the whole canadian peso is not backed by any worthwhile assets, the gold was sold off long ago. Trust and faith in the currency and the banks-WHY?
So everyone gets another haircut, the public will bail them out and the board members will need to back off on a few country mansions this quarter maybe into next.
Paul
The Bank executives will get bonuses
Around 30% of all mortgages in Canada are currently variable rate. Expect similar things to start happening here once all those mortgages hit their trigger rates.
Everyone is bailing out of Credit Suisse Wealth Management?
Bit of advice. Check your 401K and Retirement funds for vulnerability. It is better to be one of the first out the door, before the mob stampedes to crush and trample everyone in a mad rush out that same narrow doorway. (Just ask the Koreans.)
This isn’t George Bailey’s friendly little local Bedford Falls Credit Union from “It’s a Wonderful Life,” where everyone in the town was in it together, and your faith and trust kept your local credit union solvent and operating. CS is a huge impersonal multi billion Franc multinational Swiss Bank Corporation. It will show you zero loyalty, and happily shaft you and everyone else for 0.001% increase in their quarterly profit margin. Show them the same loyalty they show you.
Mortgage Is ~ 100k
@1.9% for two more years
Just came outa retirement – back on Welding Inspection: Suncor Fort Hills 7/7 shift
I figure….2 yrs less a day should do it…and thats only 4k a month…if I bump it up to 6k/ month..hmm, 1 yr 3 months.
Obviously the bank won’t allow large prepayments, so most of said 6k goes to silver/gold.
No intention of allowing it get to the point of renewal…at what 7, 8%…??
Fk dat.
“Just came outa retirement….”
I feel for you, my biggest worry is having to go back to work after deciding on a early retirement last year due to Covid BS going through airports. So now keeping an eye on inflation/ economy, but it obviously doesn’t look good for a next 35 year survival plan.
Guess we all have to do what we have to do when we need to do it. F*ck Turdeau.
Too big to fail but not too big to not bail out. They’ll fail anyway, and those billions of US dollars pumped in will be lost, pushing inflation here even harder and raising the debt level. I wonder which child employees are to blame, some more Brinkman-Fried altruistic con artists?
I believe that the technical term for this, in high finance circles, is “ooopsie doodles!”
Next month in The Atlantic: Let’s Declare a Global Economic Collapse and the Widespread Appearance of Cannibalism Amnesty
Bigger question, why is the US fed bailing out Credit Suisse, a Swiss bank?
Hunter and … “the big guy” … are rather large Swiss depositors?
Swiss Banks are failing?
Swiss banks previously were so conservative, that trouble there used to mean big problems with all banks. Now it just means they have the same crappy professional management class everyone else has. So Credit Suisse just has the same big problems every other bank has due to lousy management. Do you feel re-assured?
Wait til people realise that Canadian bank mortgages are severely underwater, ie the assets are not worth anything like mortgage amount, and they are no longer being paid. Then we may see multiple bank runs.
Of course the whole canadian peso is not backed by any worthwhile assets, the gold was sold off long ago. Trust and faith in the currency and the banks-WHY?
So everyone gets another haircut, the public will bail them out and the board members will need to back off on a few country mansions this quarter maybe into next.
Paul
The Bank executives will get bonuses
Around 30% of all mortgages in Canada are currently variable rate. Expect similar things to start happening here once all those mortgages hit their trigger rates.
Everyone is bailing out of Credit Suisse Wealth Management?
Bit of advice. Check your 401K and Retirement funds for vulnerability. It is better to be one of the first out the door, before the mob stampedes to crush and trample everyone in a mad rush out that same narrow doorway. (Just ask the Koreans.)
This isn’t George Bailey’s friendly little local Bedford Falls Credit Union from “It’s a Wonderful Life,” where everyone in the town was in it together, and your faith and trust kept your local credit union solvent and operating. CS is a huge impersonal multi billion Franc multinational Swiss Bank Corporation. It will show you zero loyalty, and happily shaft you and everyone else for 0.001% increase in their quarterly profit margin. Show them the same loyalty they show you.
Mortgage Is ~ 100k
@1.9% for two more years
Just came outa retirement – back on Welding Inspection: Suncor Fort Hills 7/7 shift
I figure….2 yrs less a day should do it…and thats only 4k a month…if I bump it up to 6k/ month..hmm, 1 yr 3 months.
Obviously the bank won’t allow large prepayments, so most of said 6k goes to silver/gold.
No intention of allowing it get to the point of renewal…at what 7, 8%…??
Fk dat.
“Just came outa retirement….”
I feel for you, my biggest worry is having to go back to work after deciding on a early retirement last year due to Covid BS going through airports. So now keeping an eye on inflation/ economy, but it obviously doesn’t look good for a next 35 year survival plan.
Guess we all have to do what we have to do when we need to do it. F*ck Turdeau.