CS on the Brink of the Abyss: Traders Run Amok

Noone is watching – while traders do their gymnastics CS on the Brink of the Abyss Lack of Control, Further Losses, $90 Billion of Distressed Debt Credit Suisse’s ability to survive in its present form is threatened by the latest revelations of past mismanagement, dysfunctional communications and unsupervised trading. Follow our Blog which will be continually updated as the drama unfolds. CS CEO Tidjane Thiam…

Deep Bank Crime Whitewash

Definition of whitewash: To whitewash means “to gloss over or cover up vices, crimes or scandals or to exonerate by means of a perfunctory investigation or through biased presentation of data“. It is especially used in the context of corporations, governments or other organizations. “Slap on the Wrist” Settlement The DOJ has released the statement of facts regarding Credit Suisse’s monstrous fraud and “slap on the…

Explainer: Swiss Law Protects Crime

Photographer Panos Laskarakis took this stunning shot of the Matterhorn and Lake Riffelsee near Zermatt – a Swiss resort for the super-wealthy, who sometimes bring their pet dogs there clothed in specially tailored mink coats. Swiss Furious: Wanted CS Raids Done Differently Yesterday, Swiss Attorney General Michael Lauber elaborated on Friday’s complaint about the raids on Credit Suisse’s offices. He insisted that Swiss authorities should be involved as early as…

Public Entrance Goes Nowhere

Public Entrance Goes Nowhere Story behind the cartoon: There were 700 cases of whistle-blower complaints from Wells Fargo employees in 2010 – 6 years before the scandal became public. That’s more than an average of two whistle-blower warnings every week. The bank’s regulator (the OCC) released a damming report in April this year of how the bank’s management and the regulator knew of the fraudulent practices, hundreds…

Supreme Court on a Knife edge

  Supreme Court on a Knife Edge Highland Capital v Credit Suisse Around a half billion dollars hang on an abstruse quirk. It will be another test for the legitimacy and repute of the country’s courts, already seriously damaged in public opinion. The Texas Supreme Court has discretion to decide on a legal quirk with massive consequences, both for the litigants, and for the country.…

Credit Suisse infiltrated government, received billions of dollars

Credit Suisse infiltrated government Received billions of dollars of business This bank has been caught again, and again ….. doing criminal corruption. This time,  it “infiltrated” government owned corporations in China by “hiring” relatives of their executives who gave the bank billions of dollars of business. The “hires” were often so incompetent that those associated with them observed that “corruption was a way business got done”.…

A Million Lives

Before the last financial crisis, FRCS warned the world that organized crime in banks would bring financial calamity – it did exactly that! FRCS warned that honest banks could not compete against criminal banks – hundreds went bankrupt because they refused to engage in crime. We are now warning that organized crime in banks has become worse. Even old traditional banks like Australian Commonwealth Bank…

Monstrous Hypocrisy Continues

The Swiss banking regulator, FINMA, criticized Credit Suisse for billion dollar money laundering – but there was NO PENALTY!! See details below. CS Wants Court Approved Fraud: Highland Capital v Credit Suisse The jury found that the bank committed fraud in deceiving Highland Capital into financing its shonky real estate development. But the bank claims that its contract allowed it to do this without penalty: It claims that its…