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Credit Suisse asks investors to destroy oligarch loans documents
- raverbashing 5y agoYeah I wonder how many of those investors will be following through with the destruction of said information. (meaning: I won't be surprised if it leaks)
- doomrobo 5y agohttps://12ft.io/proxy?q=https%3A%2F%2Fwww.ft.com%2Fcontent%2Fbfea0069-4143-4e4b-accb-9712ce95a282 https://12ft.io/proxy?q=https%3A%2F%2Fwww.ft.com%2Fcontent%2...
- kmlx 5y agohttps://www.ft.com/products https://www.ft.com/products or if you want to actually support proper journalism.
- yummybear 5y agoNot OC, but the thing with most of these international media articles is I want to read an ft.com article maybe once per year. Tomorrow it's another media with another article. Why would I want a subscription to read one single article?
- guerrilla 5y agoSounds like you just hit on a business model... multi-subscriptions to news. You could change the world with that.
- 19h 5y agoI'm paying for Apple News+ and still get asked to pay for NYT. Absolutely frustrating..
- phasersout 5y agoThey could also just get more flexible with the product they are offering. For example selling single articles for let's say 50 cents or so.
- guerrilla 5y agoAnother business model... some kind of system that all sites could use. Wow how different that would be...
- bigpeopleareold 5y agoMedia companies themselves prefer traditional subscriptions, so this really didn't work out. I don't exactly understand the business behind it since I am a developer, just that I know about this from people I work with. (EDIT: But I see about Blendle now - I really hope it works for them.)
- iustin94 5y agoPretty sure it has something to do with "recurrent revenue". Having 100 subscriptions means you have a guaranteed that the in the next month you will get 100 * cost in. On the other hand being a pay perview model leaves you to the risk of having high fluctuation of costs. Payperview I see it favored for content providers who provide high cost content once in a while. On the other hand, making a subscription based model works better for content that you put out fast and at a relativelly low cost IMO
- guerrilla 5y agoThat only works if you can get enough to stay in business... It seems they're barely making it from what I hear.
- ciphol 5y agoIf I could pay 50 cents for an interesting-looking article AND be guaranteed they would not use my email/CC to spam me or add extra charges in the future - I would jump on it.
- bryanlarsen 5y agoBlendle is perhaps the most successful with that, but they're definitely not changing the world. I'd post a Blendle link to the article, but they don't appear to have FT, just FTWeekend.
- guerrilla 5y agoIs it even offered in English? I'm just getting Dutch and German
- stjohnswarts 5y agoor micropayments for the article. maybe $1
- rad_gruchalski 5y agoI’d support it, if it didn’t cost $10/month on each damn website to read one random article a month.
- ivanmontillam 5y agoSomeone's gotta invent the iTunes of articles.
- rad_gruchalski 5y agoMany people have been talking about it. Apparently the issue is that publishers do not see beyond subscriptions. There was an article once here where someone was describing exactly that problem. I don’t have a link, though.
- namibj 5y agoGerman Heise publisher will sell you individual magazine articles, though.
- chews 5y agoWonder if they are deleting their loans to oligarchs? No.
- rocqua 5y agoThat would be gifting Russia free money, sorta the opposite of sanctions. Better to hold the loan, mark down the value, and once / if things normalize, go after the loan including any failed payments.
- xwdv 5y agoCould it still be possible to do a 51% attack on various crypto and seize any coins owned by oligarchs?
- kragen 5y agoI do not think you should be using this site to set up conspiracies to steal money from people through computer security holes. Not even if they are rich people and you think they are very bad.
- pawelmurias 5y agoWe shouldn't use the word theft here, think of it as mining some oligarch coins.
- kragen 5y agoI'll keep that in mind if I ever have the opportunity to empty your bank account.
- blitzar 5y agoIts not emptying their bank account its mining pawelmurias coins.
- pawelmurias 5y agoI don't have any crypto that can be mined by a blockchain vote AND I am not sending any armies to attack Europe.
- kragen 5y agoI don't see how that's relevant. Most of the Russia oligarchs aren't either, and blockchains aren't the only computer security mechanisms that can be overcome.
- xwdv 5y ago
- johnisgood 5y agoPay-walled.
- CaptainZapp 5y agohttps://archive.is/1NssL https://archive.is/1NssL
- kmlx 5y agohttps://www.ft.com/products https://www.ft.com/products
- anhner 5y agoindeed, that's what it means when people say it's paywalled
- xcambar 5y agoCan someone explain like I'm 5? I am uncertain I understand it. Did credit Suisse actually ask to delete financial documentation to hide from the public that they have financially backed oligarchs?
- kingcharles 5y agoThat's what the headline seems to imply. The article isn't that clear. My guess is that what they are doing isn't illegal. Basically Credit Suisse has papers that its customers supplied in confidence to secure loans, and those documents are probably no longer strictly needed, and so it is getting rid of them in case there is another leak of their internal files, like there was recently.
- actionfromafar 5y agoIt is'nt clear. For instance, to me it's not clear if that can be obstruction of justice in a forth-coming investigation.
- cm2187 5y agoYou should keep in mind it is in the context of a securitisation, i.e. selling public securities. It's unikely that highly confidential information was shared with the investors not the least because it's may not be relevant to their investment. My guess, not knowing anything about the transaction, but from what the articles says, is that they may have shared some financials from the persons the planes were leased to, under NDA. And given data leaks, they probably went to all the investors they shared confidential information with in the past and ask them to delete it unless they still need it.
- actionfromafar 5y agoSo? Aren't we talking about hiding evidence that something may have connection to sanctioned individuals? If so, I agree with everything you said but it could still be obstruction of justice.
- sschueller 5y agoWTF, how many replacement CEO does this damn bank need? They haven't changed a bit, at this point I think they need to just fire everyone.
- hgomersall 5y agoIt's almost like the problem is industry wide.
- sschueller 5y agoIt is, but that is why the previous CEO was supposed to change the culture but then turned out to be the worst example himself by violating Swiss Covid quarantine rules on multiple occasions. Now the new guy is supposed to do the same, so far it's not looking good.
- guerrilla 5y agoWell, that's the result of "bad apple" thinking rather than structural analysis.
- sschueller 5y agoIt is structural but I guess the board thinks a good CEO can fix it when it's the board that probably needs replacing as well...
- AllegedAlec 5y ago
- SyzygistSix 5y agoThe amount of child and/or slave labor involved in the chocolate industry is incredible. I'm not sure it is a step up or not. Fortunately there are a lot of companies making excellent chocolate now with relatively fair labor.
- deleted 5y ago[deleted]
- durnygbur 5y agoEveryone in Switzerland anchored at their well paid positions have too much to lose. The information will be shredded and turned into dust and nulls. Stuff is expensive in Zurich. All these yachts and real estate looks magnificent along Italian, Spanish, French, and Monaco coasts though... you must admit.
- dgellow 5y agoPlease don't project Credit Suisse behaviour to the swiss population. The majority of us have nothing to do with this institution and would be really happy see people responsible for criminal activities be judged accordingly. The "Suisse" in their name is mostly for brand purpose, it's in fact a global corporation that has almost nothing to do with the country itself.
- AtlasBarfed 5y agoThe term "Swiss Bank Account" has been a popular culture "thing" for ?50 years? ?more?. I understand that Switzerland has become a lot more transparent as modern banking, information systems, and US government weight-throwing has increased. So did Credit Suisse become a global entity as Swiss laws became reformed? But your point stands, it's not like Switzerland is a rogue state full of sociopaths. It's just another european country with a business sector.
- AniseAbyss 5y agoThose oligarchs destroyed Russia. People bitch about Pelosi owning stocks- well she's a fucking Saint compared to the average Russian billionaire. And the West welcomed them with open arms.
- nix23 5y agoCredit Suisse really cannot act worse, it's like looking at Hollywood (Disney Lukas-film etc) and thinking...wow they have a really good PR-Department, we should act like them, being wannabe "diverse" and "inclusive" and act like a a*hole makes things not better, they just look like some lying sacks of *it.
- downrightmike 5y agoCan they destroy all mortgage loans themselves? Show us what you got