LTR

3.90%

74.0¢ liontown resources limited

Explains why Credit Suisse were "anti Lithium" alongside with...

First 1170 Last

Share
Profile

Follow
jlgread

1,112 Posts.

452

19/03/23

14:03

Post #: 66845491
Share

Originally posted by rednoff: ↑

Write up on Credit Suisse latest.

Article wrote about SVB going down first.. then CSuisse.

"Then Credit Suisse hit the skids… a different case altogether

Just when global financial markets are jittery and wondering whether there will be a chain reaction of bank failures, yesterday Swiss-based Credit Suisse was in crisis. Its biggest shareholder, Saudi National Bank, said it wouldn’t be putting any more money into the troubled bank… which was never going to go down well.

It started a whole new banking crisis. But – and this is important – Credit Suisse has been a badly run bank for a long time. The trigger for yesterday’s share price collapse was a comment from a shareholder and not the result of the US bank crisis.

This is a great timeline from the capital markets newsletter The Kobeissi Letter which outlines the strife Credit Suisse has been through.

Timeline of Credit Suisse collapse:

2009: Fined $US536 million for bypassing US sanctions

2014: Fined $US2.6 billion for evading US taxes

2021: Lost $US5.5 billion due to risky exposure to Archegos fund failure

2021: Froze $US10 billion in funds due to Greensill collapse

2022: Pleads guilty to defrauding investors over $US850 million loan, fined $US475 million

2023: Delays annual report to address accounting concerns from the SEC [US Securities and Exchange Commission]

2023: Saudi National Bank said they won't provide further financial support

2023: US Treasury and ECB [European Central Bank] announce they are monitoring CS situation

Now, Credit Suisse is asking the Swiss Central Bank for support. Their Credit Default Swap premiums are trading above 2008 levels.

At this point, they have dug their own grave."

Expand

Explains why Credit Suisse were "anti Lithium" alongside with Goldman Sachs last year forecasting Lithium price would crash - their largest shareholder - Saudi National - were biased because of their oil interests ....

LTR Price at posting: $1.65 Sentiment: Hold Disclosure: Held
39 Upvote

3 Great analysis

Reply

Top Stories

NTI

Neurotech knocked back by FDA as agency declares target condition not rare enough for special status

ACW

Actinogen Medical ramps up Alzheimer’s treatment trials, targeting fast-track global approvals

SLS

Solstice Minerals to ramp up drilling campaign at Yarri Gold Project

Week 40 Wrap: China's nonsensical stimmy hype wanes (shocking!); HotCopper's picks; oil & inflation

WCN

White Cliff jumps 24% on 'bonanza grade' copper rock chips at Rae project, Canada

COD

Coda Minerals (ASX:COD) enters rights issue to further exploration in South Australia

CKA

Cokal upgrades infrastructure for BBM ramp-up in Indonesia

BUX

Buxton projects new graphite province discovery at WA Narryer play

BCI

BCI reaches close of funding facility for salt-first part of Mardie project

RCE

Recce eyes Indonesia for novel anti-infective as Indo-Aus ties grow stronger

There are more pages in this discussion • 3,507 more messages in this thread...

First 1170 Last

Add LTR (ASX) to my watchlist

(20min delay)
Last 74.0¢		Change -0.030(3.90%)		Mkt cap ! $1.794B

Open	High	Low	Value	Volume
77.0¢	77.0¢	73.5¢	$12.03M	16.10M

Buyers (Bids)

No.	Vol.	Price($)
6	339920	74.0¢

Sellers (Offers)

Price($)	Vol.	No.
74.5¢	109036	6

View Market Depth

No.	Vol.	Price($)
6	339920	0.740
8	870031	0.735
20	102940	0.730
14	242553	0.725
20	180133	0.720

Price($)	Vol.	No.
0.745	21500	2
0.750	131650	4
0.755	257600	3
0.760	149266	7
0.765	29342	3

Last trade - 16.10pm 04/10/2024 (20 minute delay)

LTR (ASX) Chart

Explains why Credit Suisse were "anti Lithium" alongside with...

Neurotech knocked back by FDA as agency declares target condition not rare enough for special status

Actinogen Medical ramps up Alzheimer’s treatment trials, targeting fast-track global approvals

Solstice Minerals to ramp up drilling campaign at Yarri Gold Project

Week 40 Wrap: China's nonsensical stimmy hype wanes (shocking!); HotCopper's picks; oil & inflation

White Cliff jumps 24% on 'bonanza grade' copper rock chips at Rae project, Canada

Coda Minerals (ASX:COD) enters rights issue to further exploration in South Australia

Cokal upgrades infrastructure for BBM ramp-up in Indonesia

Buxton projects new graphite province discovery at WA Narryer play

BCI reaches close of funding facility for salt-first part of Mardie project

Recce eyes Indonesia for novel anti-infective as Indo-Aus ties grow stronger

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News

Explains why Credit Suisse were "anti Lithium" alongside with...

Top Stories

Neurotech knocked back by FDA as agency declares target condition not rare enough for special status

Actinogen Medical ramps up Alzheimer’s treatment trials, targeting fast-track global approvals

Solstice Minerals to ramp up drilling campaign at Yarri Gold Project

Week 40 Wrap: China's nonsensical stimmy hype wanes (shocking!); HotCopper's picks; oil & inflation

White Cliff jumps 24% on 'bonanza grade' copper rock chips at Rae project, Canada

Coda Minerals (ASX:COD) enters rights issue to further exploration in South Australia

Cokal upgrades infrastructure for BBM ramp-up in Indonesia

Buxton projects new graphite province discovery at WA Narryer play

BCI reaches close of funding facility for salt-first part of Mardie project

Recce eyes Indonesia for novel anti-infective as Indo-Aus ties grow stronger

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News