Credit Suisse CDS spread… balance sheet with assets of 727bn financed with only 42bn tangible equity at end q2… Mcap is a tiny 10bn… CFO today said “Credit Suisse is at a critical moment”… counterparty risks are increasing…
ABC Australia is reporting that a major investment bank (likely Credit Suisse) is on the brink, citing ‘a credible source’. The CDS’s of the bank have been trading as if a Lehman Moment was about to hit.
‘Big Short’ Burry Warns That a Repeat of the 2008 Crisis Is in Sight. The legendary financier reiterates his warnings of a market collapse on the way.