We are literally moments before the announcement of the first criminal charges to be accepted by a bank in a settlement in a long, long time. Usually, they just pay a fine and get a slap on the hand. Keep an eye on the news as Credit Suisse has supposedly come to a settlement where it actually admits criminal behavior.
Credit Suisse Guilty Plea as US Said to Ressure Banks
http://www.bloomberg.com/news/2014-05-19/credit-suisse-plea-looms-as-u-s-said-to-reassure-banks.html
So what? Banks can’t withstand a mass exit of depositors and/or investors.
Well, at least Goldman Sachs has already come out and said that it would take a lot more that criminal behavior to make them pull their support for a fellow bankster…
“It becomes a very weighty decision for us to cut someone off, and we wouldn’t do it lightly,” Goldman Sachs Group Inc. CEO Lloyd C. Blankfein, 59, said in a May 16 interview after his New York-based firm’s annual meeting in Irving, Texas.
Umm. Which means that they have likely already done it!
But is it a big deal if Credit Suisse starts to lose capital as investors get nervous?
Have you read the Credit Suisse website lately? You be the judge:
“We are one of the largest global providers of derivatives, with a significant trading presence in New York, Hong Kong, London and Zurich.”
https://www.credit-suisse.com/investment_banking/client_offering/en/equity_derivatives.jsp
EVERYTHING is coming in line for the final take down of the banking cabal…
Hold on tight!
May the Road you choose be the Right Road.
Bix Weir
