Credit Suisse is in crisis.
What went wrong? So, so much.
🧵 Let’s take a look
We *just* learned that #SVB’s downfall was announcing it was raising equity without having buyers lined up, says @matt_levine.
So why would Credit Suisse’s biggest shareholder announce they would “absolutely not” put more money into the embattled bank? trib.al/aS9oy3I
After Saudi National Bank ruled out providing more assistance, #CreditSuisse closed down 24% at 1.697 Swiss francs per share, its lowest closing price on record trib.al/nnFD2F8
Credit Suisse is no #SVB.
🎥 But it needs friends now more than ever, says @PaulJDavies
Credit Suisse can withstand a lot more deposit outflows and serious interest rate stress — if clients and investors see it through, says @PaulJDavies bloomberg.com/opinion/articl…
Market chaos is spreading from Europe to the US.
⬇️ Follow along for all the latest news, market reaction and analysis bloomberg.com/news/live-blog…
Credit Suisse dropped as much as 30% today — a record low.
But the bank’s previous mishaps had already caused many clients to flee, says @jkarl26 bloomberg.com/opinion/articl…
POV: Your largest shareholder tells the world they’re not going to support you anymore 🙃
Imagine the utter betrayal Credit Suisse is feeling right now…
🎥 @jkarl26 breaks it down
Credit Suisse can no longer brand itself as a global wealth manager without its rich Asians, says @shuli_ren bloomberg.com/opinion/articl…
Credit Suisse has been thrown a $54 billion lifeline.
So can the bank stay independent?
🎥 @PaulJDavies explores bloomberg.com/opinion/articl…
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