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Credit Suisse Is in Crisis. What Went Wrong?
- senttoschool 4y agoTo me, one of the scarier things is that we don't know what is is going on around the world in banking. Almost every country lowered interest rates to zero or near zero. Almost all of them have had to drastically increase interest rates over the last year. This certainly means many banks around the world made the same fatal mistakes as SVB, First Republic, Signature, and Silvergate. How many banks around the world are secretly insolvent? How many of them are dangerously close to triggering a cascading effect in their own countries? SVB started it. It's world news. If I'm a citizen in another country, I'd really think about pulling my money out.
- CharlieDigital 4y agoBanking stopped being about boring bookkeeping and became about how to "innovate" and leech more from the flow of capital. Rules and regulations in the way? Just pay the paltry fine or pay off some regulators. Better yet? Get the laws changed.