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Good grief

True, the bank had a 4bn francs rights issue imposed on it last year but that now looks to have been too little too late, compared to the 50bn francs that the central bank has had to provide.

The Chief City Commentator of a national newspaper – a broadsheet! – doesn’t know the difference between banking capital and banking liquidity.

Eheu fugaces etc etc

2 thoughts on “Good grief”

  1. I remember in 2008, Halifax had a rights issue as part of their panicked attempt at staying afloat. I had the cheque written out, envelope and book of stamps ready and settled down at my office PC to watch the stock market.
    The share price crashed below the offer price and to the cheers of my colleagues I put the cheque through the office shredder ( which cut both ways, a bit like that guy at Credit Suisse I read about today).

  2. The Telegraph, not withstanding its general decline, has gone all click bait doom and gloom. Properly explaining Credit Suisse can’t generate headlines like ‘Who would trust a Swiss bank now?’

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