Credit Suisse: Difference between revisions

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 {{a|myth|{{image|Lucky Dog|jpg|}} }}Old “[[Lucky]]”, the proverbial missing dog of modern international finance. Also known amongst banking analysts as “[[Debit Suisse]]”.
-For some years it has been an immutable rule of the market that if an unfortunate, weird, dumb, or preposterous thing happens in the market, Credit Suisse is sure to be involved and, if it hasn’t actually ''caused'' it, will be on the wrong ''end'' of it. This is the role that Deutsche Bank used to play.
+For some years it has been an immutable rule of the market that if an unfortunate, weird, dumb, or preposterous thing happens in the market, Credit Suisse is sure to be involved and, if it hasn’t actually ''caused'' it, will be on the wrong ''end'' of it. This is the role that Deutsche Bank used to — and may once again now — play.
 ===Bullet dodged — or opportunity missed?===
-Ironically — though, possibly ''causatively'' — Credit Suisse escaped the [[Global Financial Crisis]] comparatively unscathed. While its peers and competitors were being bailed out, nationalised, eviscerated, stress tested, analysed, supervised, inspected generally groped with great snapping regulatory rubber gloves on parts of their institutional anatomies they didn’t know ''could'' be groped, old Lucky got a pass, sat pretty and thumbed its nose at all the hubris.
+Ironically — though, possibly ''causatively'' — Credit Suisse escaped the [[Global Financial Crisis]] comparatively unscathed. While its peers and competitors were being bailed out, nationalised, eviscerated, stress tested, analysed, supervised, inspected and generally groped with great snapping regulatory rubber gloves on parts of their institutional anatomies they didn’t know ''could'' be groped, old “Lucky” got a pass, sat pretty and thumbed its nose at all the hubris.
-It may now wish it had been given the rubber glove treatment while the going was good. For its peers seem — and look, its ''always'' to early to say this sort of thing, but for now, they seem — the better for it: they look to have learned lessons about how banks should behave that Credit Suisse, apparently, did not.
+It may now wish it had been given the rubber glove treatment while the going was good. For its peers seem — and look, its ''always'' to early to say this sort of thing, but for now, they ''seem'' — the better for it: they look to have learned lessons about how banks should behave that Credit Suisse, apparently, did not.
 ===A gradual, but insistent, descent into the abyss===
 So here we now are: after a period of seven or more years in which Credit Suisse seemingly was drawn, like a moth to a candle, to every financial catastrophe going — its spying on its own executives, Malachite, [[Archegos]], Greensill, Evergrande, [[Covid-19]], 1MDB, [[tax]] evasion, lockdown breaches, serial [[KYC]] and [[money laundering]] breaches, Bulgarian drug trafficking, a $500 million insurance fraud on the Georgian prime minister, $850m Mozambique tuna bonds fraud, and diverse sanction breaches — things looked like they were reaching an end-game in 2023 following the failure of the [[Silicon Valley Bank]] and a sudden market-wide loss of confidence in the Swiss lender.