Beautiful Virgin Islands

Tuesday, May 20, 2025

0:00
0:00

Credit Suisse's Scandalous History Resulted in an Obvious Collapse - It's time for regulators who fail to do their job to be held accountable and serve as an example by being behind bars.

Regulators cannot claim to serve the public or protect depositors when they turn a blind eye to a bank's fraudulent behavior. It's time to hold regulators accountable for cooperating with fraudulent activities of banks, by turning a blind eye and allowing them to cheat their customers.
Credit Suisse's Scandalous History Resulted in an Obvious Collapse - It's time for regulators who fail to do their job to be held accountable and serve as an example by being behind bars.

Regulators cannot claim to serve the public or protect depositors when they turn a blind eye to a bank's fraudulent behavior.

It's time to hold regulators accountable for cooperating with fraudulent activities of banks, by turning a blind eye and allowing them to cheat their customers.

The Credit Suisse crisis is a result of a series of financial issues and scandals that have plagued the Swiss bank in recent years.

Here is a brief overview of some of the major events that have led to the crisis:

Losses from Archegos Capital:

In early 2021, Credit Suisse announced that it had suffered significant losses due to the collapse of Archegos Capital, a US-based hedge fund.

Credit Suisse was one of several banks that had provided financing to Archegos, which had taken on large positions in a number of companies.

When those positions went sour, Archegos was unable to meet its margin calls, and several banks, including Credit Suisse, were left with significant losses.

Fraud at its supply chain finance funds:.

In mid-2020, Credit Suisse was hit by a scandal involving its supply chain finance funds, which are designed to help small businesses get access to financing.

It was discovered that a Credit Suisse employee had been falsifying documents related to the funds, leading to losses of hundreds of millions of dollars.

US fines for helping Americans evade taxes:

In 2014, Credit Suisse pleaded guilty to charges of helping US citizens evade taxes, and agreed to pay a 2.6 billion dollar fine.

The bank was found to have helped Americans hide assets in Swiss bank accounts, which they could then use to avoid paying US taxes. While is common practice that makes money for banks worldwide, doing so with American citizens is a risk that no bank should take.

Spy scandal:

In 2019, it was revealed that Credit Suisse had hired private investigators to spy on its former head of wealth management, Iqbal Khan, who had defected to rival bank UBS.

The scandal led to the resignation of Credit Suisse's COO, and damaged the little left of the bank's reputation.

All of these events have led to an obvious collapse that, in fact, was welcomed by regulators who did nothing to protect the public or prevent the collapse..

And if you mistakenly think that this article is a complaint about what happened with Credit Suisse or the Silicon Valley Bank, you are wrong. This is a wake-up call for what could and should obviously happen to Deutsche Bank and HSBC.
Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Russia Expands Military Presence Near Finland Amid Rising Tensions
Indian Scholar Arrested in Crackdown Over Pakistan Conflict Commentary
Ontario Manufacturers Warn U.S. Tariffs Could Create Economic 'Ghost Town'
UK and EU Reach Landmark Post-Brexit Deal to Reset Relations
Israel Eases Gaza Blockade Amid Internal Dispute Over Military Strategy
President Biden’s announcement of advanced prostate cancer sparked public sympathy—but behind closed doors, Democrats are in panic
Trump Demands Probe into Kamala Harris for Paying Celebs to Fake Endorsements
At Age 92, the World’s Oldest President Has No Succession Plan — and That Could Spark a Crisis
U.S. Concerns Mount Over Chinese 'Kill Switch' Components Found in Solar Power Infrastructure
Bipartisan Criticism Surrounds Trump's Cryptocurrency Ventures
Diplomatic Efforts on the Russia-Ukraine Conflict
Mexican Navy Ship Collides with Brooklyn Bridge, Injuries Reported
A Chinese company made solar tiles that look way nicer than regular panels!
U.S. and Philippine Forces Test High-Powered Microwave Weapons in Joint Exercise
China Unveils Advanced AI Surveillance Tools at 12th Police Equipment Expo
Japan's Three Major Banks Report Record High Net Profits for Second Consecutive Year
The Chinese Dragon: The True Winner in the India-Pakistan Clash
US and EU Make Progress in Trade Talks, While Vietnam Negotiations Also Advance
Sean 'Diddy' Combs Trial: Ex-Girlfriend Cassie Ventura Testifies About Alleged Abuse
Former Wales Rugby Star Jamie Roberts to Pursue Medical Career
Australia's Venomous Creatures Contribute to Life-Saving Antivenom Programme
Passenger Travels Under Wrong Identity on British Airways Flight
Former FBI Director James Comey Questioned by Secret Service Over Social Media Post
The Spanish Were Right: Long Working Hours Harm Brain Function
After 108 Years: Moody’s Downgrades U.S. Credit Rating
Did Former FBI Director Call for Violence Against Trump? Instagram Post Sparks Uproar
US and UAE Partner to Develop Massive AI Data Center Complex
Russia and Ukraine Hold First Direct Peace Talks in Three Years — But No Breakthrough Yet
Apple's $95 Million Siri Settlement: Eligible Users Have Until July 2 to File Claims
US and UAE Reach Preliminary Agreement on Nvidia AI Chip Imports
KREMLIN has just approved Senator ALEXANDER " THE EXPERIMENT" KARELIN, of Novosibrisk, as Chief Negotiator at the Meeting in ISTANBUL with Ukraine & USA.
Shocking Footage Released: Diddy Caught Dragging Cassie in Brutal Hotel Hallway Assault
Starlink Now Profitable: SpaceX Hits Major Milestone with $11.8 Billion in Revenue
Portuguese Right-Wing Leader Collapses During Campaign Rally
A Pakistani imam in Italy gave a sermon stating that every Muslim should fight the infidels or face ‘catastrophic consequences’.
President Trump and Elon Musk Welcomed by Emir of Qatar Sheikh Tamim with Cybertruck Convoy
EU Court Orders Disclosure of von der Leyen’s Texts with Pfizer CEO Over €35 Billion Vaccine Deal
Strong Warning Issued: Do Not Use General Chatbots for Medical, Legal, or Educational Guidance
Saudi Arabia Emerges as Global Tech Magnet with U.S. Backing and Trump’s Visit
Mexican Influencer Valeria Márquez Killed During Livestream in Suspected Femicide
This man went to take $5,000 out his own bank account and was arrested for it
This was President's departure from Saudi Arabia. The Crown Prince personally escorted him back to the airport.
CIA Files Reveal Klaus Barbie's Role in Bolivian Drug Trade and Dictatorship Support
Daughter of crypto boss escapes Paris kidnap in latest in series of attacks
U.S. FDA to Remove Oral Fluoride Supplements for Children Amid Gut Health Concerns
Kim Kardashian Testifies in Paris Robbery Trial, Tells Gang Leader: 'I Forgive You'
NVIDIA and Saudi Arabia Launch Strategic Partnership to Establish AI Centers
Challenges Facing EU Foreign Policy Amidst Diverging Interests
Reports Reveal Alarming Cognitive Decline in Biden Prior to Election Withdrawal
Trump Meets Syrian President Ahmad al-Shara in Historic Encounter
×