New reports have Credit Suisse now admitting to over $7 billion (and counting) in losses from a bad $320 billion loan to family office Archegos when Credit Suisse bank was adamant only a few weeks ago that, at most, the bank would lose $5 billion.
We may never find out the real amount of losses as the real amount will probably be swept under the rug to save face.
They may need an ECB/Fed bailout sooner than later.
Famous investor Scott Minerd is now warning about other hedge funds and family offices that are over leveraged on bad trades and may blow up like Archegos soon: finance.yahoo.com/news/minerd…
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