"Is this the next financial crisis unfolding? It feels like it may be—and all because of reckless increases in interest rates by central banks," argued one political economist.
  • CyborgMarx [any, any]
    ·
    1 year ago

    vanishingly short period of relief in U.S. and global markets was shattered Wednesday after the scandal-plagued Swiss banking giant Credit Suisse announced that its auditor identified "material weakness" in its financial reporting and the firm's largest investor—the Saudi National Bank—said it wouldn't inject more cash to bolster the company

    Saudis are on a roll lately :sicko-laser:

  • Trustmeitsnotabailou [none/use name]
    ·
    1 year ago

    Okay. I've pretty much checked out of regular old media. But is it me or is everyone just kinda hush hush about all this bank stuff?

    Like if i don't see it it doesn't exist type thing going on

  • Melitopol [none/use name]
    ·
    1 year ago

    eh Swiss Central Bank turned on the money printer for them so who knows. Remember a few months ago when CS was all over the news over financial concerns and then it went away in Jan because :stonks-up:.