3 ms·

So did CS officially fail now?

• nemo44x 4y ago
  Yes, it is now the 5th failed bank in the last week.
  • paganel 4y ago
    I wonder how Deutsche is now feeling. For all its past mishaps I never would have imagined CS actually going down, or being allowed to go down in such a manner. The same discourse was being applied to Deutsche as recently as last year, if I'm not mistaken, hence my curiosity.
    • rossdavidh 4y ago
      I'm not all that surprised. CS didn't make one mistake, not even one really big mistake; it was involved in scandal after misstep after scandal after embarrassment, for a decade. It takes a lot to bring down an institution this old and big, but the CS management (mostly former) had what it took. I think part of why the Swiss gov't wanted to do it this way, is that it was clear CS was going to continue to be a problem, if it was rescued in a way that kept it an independent bank. Not that the current top mgmt is really responsible for its current state, but there had to be a fair amount of institutional/cultural issues, for that many problems to hit the same bank, year after year.
• ur-whale 4y ago
  > So did CS officially fail now? Define "fail". Did they fail their shareholders? Did they fail their creditors? Did they fail their clients? And if so the latter, which category?