The threat of financial contagion after the fall of the Silicon Valley Bank and Signature bank seems to be coming real….And perhaps it is gradually spreading to Europe.
The situation seems grim and ominous in one of the Europe’s mightiest banks.
This time, one of the largest global investment banks of the world, Credit Suisse, seems to be on the verge of collapse….or if not on the verge of collapse, its situation certainly seems to be in the red for the moment.
The bank has said that it is taking a "decisive action" to strengthen its liquidity by borrowing up to $54 billion from the Swiss central bank after a slump in its shares intensified fears about a broader bank deposit crisis.
Robert Kiyosaki, an investor, author, and Wall Street analyst who predicted the collapse of Lehman Brothers in 2008, believes that Credit Suisse is on the verge of collapse.
Actually, the underlying problem with Credit Suisse is not something completely new.
Today, we take a look at what exactly is going on with this investment bank and what had happened during last few years that had severely dented its credibility.
But before that, don’t forget to like, share and subscribe to Oneindia.
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