Credit Suisse Is in Deep Trouble

• Credit Suisse Is in Deep Trouble
  by LUC OLINGA, https://thestreet.com/
  The Swiss banking giant is embroiled in a succession of financial scandals that now threaten its future.
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  Will Credit Suisse  (CSGKF) pull through?
  Speculation surrounding the future of the Swiss banking giant has been going on for several months in the markets, in business and political circles, as well as on social networks.
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  The No. 2 Swiss bank and one of the largest banks in the world is in deep trouble and is currently fighting for its survival. A negative outcome is likely to cause a shock similar to that caused by the bankruptcy of the U.S. bank Lehman Brothers in September 2008. This event triggered one of the most serious financial and economic crises since the Great Depression.
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  Nightmare
  A year ago, Credit Suisse had a market capitalization of $22.3 billion. Today, its market value is only $10.4 billion. Credit Suisse shares fell 56.2% in one year to $3.98.
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  It is a real nightmare for the bank which had succeeded in weathering the financial crisis without losing too many feathers. At the time of this crisis, Credit Suisse shares had certainly fallen but they were down only to the level of $45, which seemed to be a feat for a bank at the time.
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  read more.

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