Good. They were massively over leveraged.<p>I hope they don’t get bailed out by tax payers.<p>Any customers with accounts should be free to withdraw, but please don’t let the company operate if they were acting recklessly
The title on HN is missing a very important word that makes it unintelligible:<p>> Credit Suisse CEO Seeks to Calm [MARKETS] as Default Swaps Near 2009 Level
Saying that the bank was at a "Critical moment" last week was what triggered people into searching deeper.<p>I don't know enough about the economical impacts of what a CDS is, but he fell into the trap of the Swiss-German way of communicating - direct, concise and transparent. With time, I learned to appreciate this way of working, but this is certainly not ideal when talking about the condition of a systemic bank a few months after coming into the office.