The most costly of the scandals was the bank’s $5 billion exposure to hedge fund Archegos, which collapsed in March 2021. Credit Suisse has since overhauled its management team, suspended share buybacks and cut its dividend as it looks to shore up its future. Shares closed at 4.22 Swiss francs on Thursday. They are down over 50% year to date. On Friday, the bank announced a cash tender offer relating to eight euro or sterling-denominated senior debt securities, worth up to 1 billion euros ($980 million), along with 12 U.S. dollar-denominated securities worth up to $2 billion. The offers on the debt securities will expire by Nov. 3 and Nov. 10, respectively.
%% A big bank paying fines?? Again?? Someone told Dave Ramsey '' you cant get 12% long term in your mutual funds ,GS does not even get that 12%. AS if GS is some kind of '' THE top trader'' or top fund manager of all the time. GS has had plenty+ plenty of big bank fines + that limited their profits also
When will these governments start prosecuting these scumbags? I still remember the Lehman CFO on Squawk Box CNBC the weekend before it collapsed and she claimed financing was no problem and that the market was under trance of the short sellers. Not one of these officers was prosecuted for lying in public. I mean what good was the Sarbanes-Oxley legislation?
Well to be fair, Enron did show some jail-time, but... everyone tried to point the fingers at everyone else, and Fastow took the biggest blame for it. Interestingly enough, Skilling supposedly knew that Fastow was stealing 200 million from the company, and purposely let him skim from the top so that it would look 'just', taking the fall. That said, Enron wasn't exactly a bank. They were a trading floor, but... they made the investment bankers kiss their ass... many of them were in on it to some degree. when Fastow
%% I dont know\ but the polar bears are punishing the stock. CS already closed way below $5 last month[SEPT= closed below $4.00]+ still below$5 with a 13% up tick lately. 51,000 full time employees