from Hacker News

Credit Suisse CEO Seeks to Calm as Default Swaps Near 2009 Level

by 609venezia on 10/2/22, 6:18 PM with 25 comments

  • by dadoge on 10/2/22, 6:48 PM

    Good. They were massively over leveraged.

    I hope they don’t get bailed out by tax payers.

    Any customers with accounts should be free to withdraw, but please don’t let the company operate if they were acting recklessly

  • by remram on 10/3/22, 12:07 AM

    The title on HN is missing a very important word that makes it unintelligible:

    > Credit Suisse CEO Seeks to Calm [MARKETS] as Default Swaps Near 2009 Level

  • by bombcar on 10/2/22, 11:27 PM

    The moment the CEO is saying things like that you know the FDIC or equivalent is busting in the back door.

  • by panick21_ on 10/2/22, 9:27 PM

    I see my taxes will be put to good use this year.

  • by nunorbatista on 10/3/22, 8:06 AM

    Saying that the bank was at a "Critical moment" last week was what triggered people into searching deeper.

    I don't know enough about the economical impacts of what a CDS is, but he fell into the trap of the Swiss-German way of communicating - direct, concise and transparent. With time, I learned to appreciate this way of working, but this is certainly not ideal when talking about the condition of a systemic bank a few months after coming into the office.

  • by joney_baloney on 10/2/22, 11:14 PM

  • by LatteLazy on 10/2/22, 8:00 PM

    It still confused me that these haven't been properly regulated as insurance policies...