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Not sure if anyone here appreciates leftist news, but someone called into the Majority Report recently predicting Credit Suisse would fold next. As a normal per
by nielsbot 4y ago
Not sure if anyone here appreciates leftist news, but someone called into the Majority Report recently predicting Credit Suisse would fold next. As a normal person I found his comments on regional bank stability interesting.
"flashback: Caller Predicted Credit Suisse Would Be Next To Fall" https://www.youtube.com/watch?v=DDFKvzXdLcA https://www.youtube.com/watch?v=DDFKvzXdLcA
(Not a banker, so maybe lots of people expected this?)
- photochemsyn 4y agoThat channel doesn't meet any normal global definition of 'leftist', the global left generally not being onboard with investment capitalism as the driving engine of the economy. Also, the left isn't afraid to discuss petrodollar recycling - i.e. it was the Saudis who refused to keep pouring their petrodollars into Credit Suisse, and Saudi Arabia and Qatar are the top investors in Credit Suisse. https://www.cnbc.com/2023/01/24/qatar-doubles-credit-suisse-stake.html https://www.cnbc.com/2023/01/24/qatar-doubles-credit-suisse-... This Credit Suisse story might have some connection to the China-sponsored restoration of diplomatic and economic ties between Saudi Arabia and Iran a week ago, perhaps.
- nielsbot 4y agoI should have qualified it as American leftist perhaps...
- alecco 4y agoCS has been a slow motion crash since 2007. It's a running joke in finance, from FT to ZH.