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A comment on Credit Suisse sheds nearly 25%, key backer says no more money. Parent comment

Re:Credit Suisse sheds nearly 25%, key backer says no more m... by curiousgal on Wednesday March 15, 2023 @02:51PM (#35172982)
I am more than 100% confident that those controversies have nothing to do with the current mess. CS is failing not because it laundered cartel money, it is failing because it didn't manage risks properly, namely Archegos and Greensill. You guys make it sound like the universes punishes those who do bad things which is laughable.
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Re:Credit Suisse sheds nearly 25%, key backer says no more m... by mtlmtlmtlmtl on Wednesday March 15, 2023 @02:59PM (#35173105)
They're both on the list too, and it seems based on a cursory glance that shady dealings were involved in both cases.

I was just confirming the notion that they're a very shady bank. I'm not qualified to say whether the shadyness is the primary cause of their downfall, but it doesn't seem outside the realm of possibility to me.

And sure, anyone can reduce any view down to a laughable caricature. Good job, I guess.

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Re:Credit Suisse sheds nearly 25%, key backer says no more m... by timmytokyo on Wednesday March 15, 2023 @02:57PM (#35173084)
It's not exactly surprising that a company known for its extensive dealings with corrupt actors is also bad at managing risk.
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Re:Credit Suisse sheds nearly 25%, key backer says no more m... by riffraff on Wednesday March 15, 2023 @03:35PM (#35173574)
> It's not exactly surprising that a company known for its extensive dealings with corrupt actors is also bad at managing risk.

HSBC is just as evil, and is doing well enough that they just acquired the UK branch of SVB

https://www.icij.org/investigations/fincen-files/hsbc-moved-...

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Re:Credit Suisse sheds nearly 25%, key backer says no more m... by HorizonXP on Wednesday March 15, 2023 @04:04PM (#35173988)
FTX bought Voyager when they went down.

Acquisitions != health

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Re:Credit Suisse sheds nearly 25%, key backer says no more m... by IG_Semmelweiss on Wednesday March 15, 2023 @06:22PM (#35175535)
Its well known that acquisitions are a great way to hide fraud, too. Number of studies on that front.

Another (usual) reason is when a company lacks clear avenues for growth so they are looking to buy some growtg

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Re:Credit Suisse sheds nearly 25%, key backer says no more m... by mtlmtlmtlmtl on Wednesday March 15, 2023 @03:26PM (#35173459)
Yeah this makes sense. One of the cases where A causes both B and C.

People willing to take part in criminal activities are almost definitionally less risk averse. You're risking fines, loss of reputation, prison, unemployability, destitution.

Not then surprising that those same people would be more willing to take undue financial risk, all the while maybe closing an eye to some red flags.

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