Legacy Banking Really is Comical, Isn't It?

After a busy week I'm looking back on the whole credit suisse debacle and shaking my head in a combination of laughter and disbelief.

Smaller regional banks that have not been in business over a century dropping the ball and faulting is one thing.

Credit Suisse was a 167 year operation that basically just got euthanized by the UBS bailot.

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One Hundred and Sixty Seven Years!!!

Seriously, what kind of greed and laziness does it take to mess up such an institution?

Clearly they were doing something right, most likely for the first couple decades atleast, then I'm sure the greed seeped in.

It's U.S. Bankings Fault...
This is essentially what Credit Suisse said. The Silicon Valley Bank collapse impacted them and then they "discovered material weakness in their financial reporting procedurs."

LMAO, more like the chickens finally came home to roost.

I mean, it's not that freaking hard. How about not leveraging to the tills to squeeze every fraction of a penny out of every dollar. Then, when the slightest thing goes wrong you won't blow up.

Comical.

Bitcoin for the win!

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It probably isn't anything we can think of that took down this bank.

Like, maybe it was retaliation for re-melting all the gold bars from fort knox that went east from Switzerland.

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