The next domino to fall

Not quite sure what this means, but it doesn’t sound good:

Troubled lender Credit Suisse said it had identified “material weaknesses” in its reporting procedures for the financial years 2022 and 2021 and is adopting a remediation plan.

For the two years “the group’s internal control over financial reporting was not effective,” Credit Suisse said in its annual report released on Tuesday. “Management has also accordingly concluded that our disclosure controls and procedures were not effective.”

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Looking at this article it may be that the discussion of practices is lacking in their financials. It could be hindsight.

Credit Suisse axes top bosses’ bonuses after biggest loss since financial crisis | Credit Suisse | The Guardian.

I heard Robert Kiyosaki say on the radio that he was looking for Credit Suisse to be the next bank in trouble fyi…doc

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