Credit Suisse Experiences Net Loss During Q1 of 2021

#1
Credit Suisse released the financial report for the first quarter of 2021 and the news are not good – the company has experienced a net loss. According to the report Credit Suisse has as experienced a net loss of CHF 252 or $275 mllion during Q1 of 2021 alone. In comparison to last year’s report, this is a massive drop. The company blamed its recent hedge fund scandal for the poor start of 2021.
Credit Suisse CEO Thomas Gottstein confirmed that the net losses were a result of the hedge fund institutional scandal that happened earlier this year. “The loss we report this quarter, because of this matter, is unacceptable. Together with the Board of Directors, we have taken significant steps to address this situation as well as the supply chain finance funds matter.”
Source
Well, somebody messed up.


Re: Credit Suisse Experiences Net Loss During Q1 of 2021

#2
Yeah. mlawson, when I read this, it reminds me of the a mega disaster in waiting......Derivatives or hot air products. Estimated at 1 Quadrillion in notional value ( the 9 biggest banks own 229 Trillion), this market is going to explode sooner or later. Then we will be looking for planets much farther than the Mars to escape....... :D


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