It’s not looking good for Credit Suisse as backers dump shares:
Shares of Credit Suisse have erased about 95% of their value since the summer of 2007. The bank has missed out on a rally at its European peers that began late last year as monetary tightening boosted prospects for lending profitability.
“Rising interest rates mean lots of European financials are headed in the other direction,” Herro was quoted as saying. “Why go for something that is burning capital when the rest of the sector is now generating it?”
Credit Suisse was given a backdoor bailout by the US Federal Reserve last year:
It’s shares are going cheap if anyone want to take a gamble.
There are also various reports that The Fed. is bailing out other European banks with a variety of currency swaps which are being kept somewhat quiet: