Credit Suisse Bank: From Bad To Worse

My post of November 4, 2011, contained a list of 29 banks that were deemed "Too Big To Fail" by the Financial Stability Board of the G20.

One of those banks was Switzerland's Credit Suisse Bank (CS). Another was Germany's Deutsche Bank (DB).

I last wrote about both of these banks in my post of October 3, 2022.

Their movements were identical from September 2001, and both were trading at or near their lifetimes lows...just above zero. They had never recovered from the fall from their lifetime highs set in April 2007...right before the 2008/09 financial crisis.

My article contained a lot of information detailing their weaknesses, which were reflective of their credit risk in the face of an impending global recession.

Today, Credit Suisse is back in the news, as it has made a new lifetime low of 1.78, so far, today. Deutsche Bank also gapped down to a low of 10.06, thus far. Sellers are still firmly in control of CS and have been for most of the time since its high of 73.01 made in April 2007, as shown on the following monthly comparison chart.

U.S. and European markets are down considerably today, on this news.

(Click on image to enlarge)


(World Markets at 2:15 pm ET)

The following ZeroHedge articles detail the issues facing, not only Credit Suisse but "the entire European banking sector (stock and credit) [which] is cratering," at the moment.

Source: ZeroHedge

ZeroHedge excerpt

ZeroHedge excerpt

ZeroHedge excerpt

Source: ZeroHedge

ZeroHedge excerpt

So, will we see a bank bailout from the ECB...for CS and any other distressed European banks?

Will that contagion spread to American banks, some of which are already collapsing, as detailed in my last post?

Why is reckless behavior by bank executives continuously rewarded with bailouts by Central Bankers and governments around the world, at the expense of taxpayers...with no consequences?

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Disclaimer: All of my posts (and charts) contain solely my own technical analyses/opinions/observations (which may contain errors or omissions) of a variety of markets and are ...

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