Another Bank collapse! No Wonder why! Meet the Head of investment!
Another Bank collapse! No Wonder why! Meet the Head of investment!
- Thread starter Addict2sex
- Start date
Ok I'll weigh in on the incredible ignorance of this video by asking the obvious question. Wtf does gender have anything to do with competence or Intelligence in any business
It just shows us non gender or non binary, whatever they call themselves, are regular human being who can also fail a bank.
Gender does not define if you are an ass hole or not.
Gender does not define if you are an ass hole or not.
I would say a lot, if the only reason one got the job was because of their silly gender signaling and not because of their competence or intelligence.
Which they obviously had none, hence the bank's collapse.
The point of the video is highlight the sheer idiocy of the maga crowd. I am just suprised they have blamded Hunter or Hillary yet. But it is early.
Your ability to see very simplistic (albeit idiotic) answers to complex problems is impressive.
Oh Brotha!
Then how do you explain masculine heterosexual CDO Czar Joseph Gregory throwing his best friend Richard Fuld under a cement mixer. Destroying Lehman Bros and nearly sending the global economy into another Great Depression?
I don't believe the rugged Mr Gregory ever ate cucumber sandwiches and wore women's underwear.
Here ya go mitch...isn't Selena Gomez gorgeous.
Like I said at the beginning, they can't let this fester like they did in 2007. Credit Swiss will crash and burn.
Then how do you explain masculine heterosexual CDO Czar Joseph Gregory throwing his best friend Richard Fuld under a cement mixer. Destroying Lehman Bros and nearly sending the global economy into another Great Depression?
I don't believe the rugged Mr Gregory ever ate cucumber sandwiches and wore women's underwear.
Here ya go mitch...isn't Selena Gomez gorgeous.
Like I said at the beginning, they can't let this fester like they did in 2007. Credit Swiss will crash and burn.
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Check out Credit Suisse Group AG's stock price (CS) in real time
Get Credit Suisse Group AG (CS:NYSE) real-time stock quotes, news, price and financial information from CNBC.
www.cnbc.com
Years ago around RSP deadline bank tried to sell me on their new “ ethical mutual fund” . The lame little pitch said they don’t invest in anything military related or Countries in political conflict and no mines that dig up the ground etc .I politely declined. I wonder if the fund still exists ? Didn’t leave much to invest in that actually makes money.
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Man when he makes the money, switches to a woman when loses it.
Are you suggesting that a trans-person has some advantage in banking over another woman?
As usual the alt right bullshitters will take aim at a transgender individual who was NOT the CEO of Suisse Bank. The actual fact is that this bank was undergoing scandals over the years that they were desperately trying to rectify:
Scandals
Credit Suisse is currently undergoing a massive strategic overhaul in a bid to address these chronic issues. Current CEO and Credit Suisse veteran Ulrich Koerner took over from Thomas Gottstein in July, as poor investment bank performance and mounting litigation provisions continued to hammer earnings.
Gottstein took the reins in early 2020 following the resignation of predecessor Tidjane Thiam in the wake of a bizarre spying scandal, in which UBS-bound former wealth management boss Iqbal Khan was tailed by private contractors allegedly at the direction of former COO Pierre-Olivier Bouee. The saga also saw the suicide of a private investigator and the resignations of a slew of executives.
The former head of Credit Suisse’s flagship domestic bank widely perceived as a steady hand, Gottstein sought to lay to rest an era plagued by scandal. That mission was short-lived.
In early 2021, he found himself dealing with the fallout from two huge crises. The bank’s exposure to the collapses of U.S. family hedge fund Archegos Capital and British supply chain finance firm Greensill Capital saddled it with massive litigation and reimbursement costs.
These oversight failures resulted in a massive shakeup of Credit Suisse’s investment banking, risk and compliance and asset management divisions.
In April 2021, former Lloyds Banking Group CEO Antonio Horta-Osorio was brought in to clean up the bank’s culture after the string of scandals, announcing a new strategy in November.
But in January 2022, Horta-Osorio was forced to resign after being found to have twice violated Covid-19 quarantine rules. He was replaced by UBS executive Axel Lehmann.
In February 2022, the bank faced fresh scrutiny after leaked data purported to show it had served human rights abusers, corrupt politicians and sanctioned businessmen for decades.
Legacy compliance skeletons also continued to emerge from the closet. In June 2022, Credit Suisse was found guilty in Switzerland’s Federal Criminal Court of failing to prevent an alleged Bulgarian cocaine trafficking gang from laundering profits via the bank between 2004 and 2008.
With litigation provisions mounting and performance still trailing its peers, the losses deepened in both the company’s earnings and its share price. After a 1.593 billion Swiss franc loss in the second quarter of 2022, and two months after Lehmann staunchly denied talks of a change in leadership, Credit Suisse announced that Gottstein would be replaced with Koerner.
The bank began another costly sweeping transformation project as Koerner and Lehmann set out to return the embattled lender to long-term stability and profitability.
This included the spin-off of Credit Suisse’s investment banking division to form U.S.-based CS First Boston, a significant cut in exposure to risk-weighted assets and a $4.2 billion capital raise, which saw the Saudi National Bank take a 9.9% stake to become the largest shareholder.
www.cnbc.com
Scandals
Credit Suisse is currently undergoing a massive strategic overhaul in a bid to address these chronic issues. Current CEO and Credit Suisse veteran Ulrich Koerner took over from Thomas Gottstein in July, as poor investment bank performance and mounting litigation provisions continued to hammer earnings.
Gottstein took the reins in early 2020 following the resignation of predecessor Tidjane Thiam in the wake of a bizarre spying scandal, in which UBS-bound former wealth management boss Iqbal Khan was tailed by private contractors allegedly at the direction of former COO Pierre-Olivier Bouee. The saga also saw the suicide of a private investigator and the resignations of a slew of executives.
The former head of Credit Suisse’s flagship domestic bank widely perceived as a steady hand, Gottstein sought to lay to rest an era plagued by scandal. That mission was short-lived.
In early 2021, he found himself dealing with the fallout from two huge crises. The bank’s exposure to the collapses of U.S. family hedge fund Archegos Capital and British supply chain finance firm Greensill Capital saddled it with massive litigation and reimbursement costs.
These oversight failures resulted in a massive shakeup of Credit Suisse’s investment banking, risk and compliance and asset management divisions.
In April 2021, former Lloyds Banking Group CEO Antonio Horta-Osorio was brought in to clean up the bank’s culture after the string of scandals, announcing a new strategy in November.
But in January 2022, Horta-Osorio was forced to resign after being found to have twice violated Covid-19 quarantine rules. He was replaced by UBS executive Axel Lehmann.
In February 2022, the bank faced fresh scrutiny after leaked data purported to show it had served human rights abusers, corrupt politicians and sanctioned businessmen for decades.
Legacy compliance skeletons also continued to emerge from the closet. In June 2022, Credit Suisse was found guilty in Switzerland’s Federal Criminal Court of failing to prevent an alleged Bulgarian cocaine trafficking gang from laundering profits via the bank between 2004 and 2008.
With litigation provisions mounting and performance still trailing its peers, the losses deepened in both the company’s earnings and its share price. After a 1.593 billion Swiss franc loss in the second quarter of 2022, and two months after Lehmann staunchly denied talks of a change in leadership, Credit Suisse announced that Gottstein would be replaced with Koerner.
The bank began another costly sweeping transformation project as Koerner and Lehmann set out to return the embattled lender to long-term stability and profitability.
This included the spin-off of Credit Suisse’s investment banking division to form U.S.-based CS First Boston, a significant cut in exposure to risk-weighted assets and a $4.2 billion capital raise, which saw the Saudi National Bank take a 9.9% stake to become the largest shareholder.
From spying to Swiss bailout: How years of turbulence at Credit Suisse came to a head
Credit Suisse's path to the brink has been a long and tumultuous one.
www.cnbc.com
Silicon Valley Bank collapse: go woke, crash the economy | MercatorNet
Summoning ghosts from the 2007-2008 global financial crisis was the collapse last Friday of Silicon Valley Bank — the 16th largest bank in the United States, and the second largest ever to fail. Silicon Valley Bank (SVB) was geared towards tech entrepreneurs and start-up companies based in its...
mercatornet.com
Why would he have an undue advantage as a "competitor" in a professional capacity?
Well if he / she's a director, she/ he has little to do with the bank's day-to-day running. He sits at a board meeting once a month with 20 other people and reads reports.
