Credit Suisse shares lost more than a quarter of their value after its biggest investor said it would not put its hands into its pockets to help out
Shares in Credit Suisse plunged, triggered by the publication of the bank’s annual report, which detailed flaws in financial reporting controls
There is no suggestion that the once august financial institution Credit Suisse has been swimming naked, but plenty of evidence that it has been paddling in inappropriate budgie-smugglers. From letting drug dealers launder money to becoming embroiled in a major corruption case in Africa, from an embarrassing leak of clients’ data to a gallivanting chairman during the Covid pandemic – not to mention a host of poor investment decisions.after its biggest investor said it would not put its hands into its pockets to help out.
Politicians and regulators moved fast to reassure the public that banks are safe places to put their money.
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