Credit Suisse: what next for the crisis-hit bank? | FT Film

It’s amazing really. We have a financial crisis, caused by greedy, reckless financial institutions. Congress passes legislation requiring those institutions to be less greedy and reckless. The institutions then lobby to have those restrictions removed, usually in the name of “remaining competitive”. This leads to another financial crisis. It’s completely predictable, and we have been doing this dance since the Great Depression almost 100 years ago.

The bank crisis isn't over yet, and experienced individuals know credit crises don't end quickly. Some find it amusing that some think it's resolved, but in reality, we're headed for a major economic downturn due to this credit contraction.

And after 8 months this programme was aired, Credit Swiss has finally gone! Watching this again, how insightful it was!!

This bank crisis is so far from being over. Anyone who has been around for longer than 12 years, knows a credit crisis isn't over in two weeks. Makes me laugh seeing folks thinking this was all over so quickly. We are seeing a credit contraction that is gonna lead to a major contraction.

Whose here after hearing this came to reality 8 months later? Crazy

Every day we encounter novel challenges that have become the new standard. Although we previously perceived it as a crisis, we now acknowledge it as the new normal and must adapt accordingly. Given the current economic difficulties that the country is experiencing in 2023, how can we enhance our earnings during this period of adjustment? I cannot let my $680,000 savings vanish after putting in so much effort to accumulate them.

CS in Japan in the aughts. The BOJ did surprise inspections of most of the banks. They were looking to punish banks for excessive jpy trading and were sanctioning banks for any compliance/regulatory exception no matter how small. The way they did the audit was the banks provided a floor map of the offices and the BOJ went through the rooms one by one, ticking them off as they went. So what CS did was they altered the floor map to leave out one room. Then they put all of their objectionable, non-compliant files in that room. They nearly got away with it but the BOJ noticed there was a locked door they never had been through. Just another example of their rogue behaviour …

Recession is often the result of external factors, and it appears that the United States is losing its grip as a federal reserve currency. With a decreasing ability to control inflation and a reduction in stock and oil trading, it seems that a new multilateral world order

I worked at CS this summer - my manager was an absolute corporate psychopath. I reported him, but the investigation was swept under the carpet. While he was on "leave" I worked with another team, which had no idea what they were doing, but were extremely resistant to fixing things. No wonder the ship is sinking.

I love when scammers loot the scammers. Most of the deposits of credit Suisse is corrupt money.

Would FT please consider using chapter breaks in their videos so that we can rewatch certain portions more easily?

The teachings on this channel are always top notch so informative and easy to understand, it's very hard to find good content online these days

And yet they've just recruited the Irish CEO of Ulster Bank as their EMEA Ops leader. She's known as a "shouter" - so no impulse control. This does not bode well ...

Axel lehmann , chairman , credit Suisse. The surname itself is enough to send shivers down the strongest spine 😂

This aged incredible lol.

There is one thing which is surprising. FT doesn't even let me read their articles, unless I pay for it, and here it has made a full fledged documentary and released it online, for free. Why ?

This episode way back saved my money. When CS SP was going down I started to look into investing in CS. Came across this in the process. Never trust a dodgy management

Listening to the first few seconds of this, I had to check if the date it was posted was 2008... Clearly the lack of consequences for those responsible for the last recession, means bankers have learned nothing.

On a much smaller scale, I am Swiss and used to be a client of CS. They have a policy of stalling on transferring your pension fund to another bank if it's in their best interests to do so. It took me three and a half months, endless calls, letters and visits to the bank to get my 3rd pillar investment fund transfered to my new bank, meaning losses of many thousands of swiss francs that I had invested with them for my retirement. It is an absolutely disgraceful institution and I hope the regulators nail them, fat chance of that happening though.

Credit Suisse is rapidly transforming into Debit Suisse.