Why aren’t financial reporters shitting bricks over the collapse of Credit Suisse Bank?
Credit Suisse. Founded in 1856.
Headquarters: Zurich. Offices across the world.
Universally acknowledged as one of the most important banks on the planet.
Largest shareholders in the bank: Saudi National Bank, BlackRock, Qatar Investment Authority.
Number of employees: 50,480.
Assets Under Management at the end of 2022: $1.3 trillion.
UBS Bank just announced it’s going to buy the collapsed Credit Suisse for the absurd paltry price of $3.2 billion.
There is no limit to the number of red flags that should have sprung up and the alarm bells that should have gone off, when Credit Suisse crashed and UBS announced its purchase price.
Financial reporters should be screaming and demanding to know EXACTLY what really happened. But they’re not. They’re covering. They’re looking away. They’re “protecting the financial community.” Heads up: You and I are not part of that community.