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Credit Suisse: what next for the crisis-hit bank? | FT Film

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  • Жарияланды 2022 ж. 12 Шіл.

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  • Foster Whales
    Foster Whales Ай бұрын +79

    The teachings on this channel are always top notch so informative and easy to understand, it's very hard to find good content online these days

    • Charley Luckey
      Charley Luckey Ай бұрын

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      Foster Whales Ай бұрын

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      Bernd Damian Ай бұрын

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      Bernd Damian Ай бұрын

      He is a financial advisor and investor, he helps people to better understand the financial markets and he also does trading and investing on your behalf.

  • Travis Donald
    Travis Donald 16 күн бұрын +171

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  • TheTruthWillSetYou Free
    TheTruthWillSetYou Free Ай бұрын +3

    And now they are wasting time and money suing Inside Paradeplatz as if this online Blog was to blame for their woes!
    Ridiculousness 🤣

  • nccamsc
    nccamsc 3 ай бұрын +19

    I worked at CS this summer - my manager was an absolute corporate psychopath. I reported him, but the investigation was swept under the carpet. While he was on "leave" I worked with another team, which had no idea what they were doing, but were extremely resistant to fixing things. No wonder the ship is sinking.

  • Catherine lord
    Catherine lord 2 күн бұрын +1

    Some economists have projected that both the U.S. and parts of Europe could slip into a recession for a portion of 2023. A global recession , defined as a contraction in annual global per capita income , is more rare because China and emerging markets often grow faster than more developed economies . Essentially the world economy is considered to be in recession if economic growth falls behind population growth

  • Strykenine
    Strykenine 6 ай бұрын +185

    Would FT please consider using chapter breaks in their videos so that we can rewatch certain portions more easily?

    • Jupiter James
      Jupiter James 6 ай бұрын

      Really? Were lucky they dont put this garbage behind a paywall - those greedy c**ts

  • Ryan Shuell
    Ryan Shuell 6 ай бұрын +969

    This story is hilarious. I was on Wall Street for 19 years, and then I had to leave. I couldn't take any more of these shenanigans. A lot of people who are not intimate with Wall Street dealings tend to think Wall Streeters are very very smart, but the truth is they are very, very dumb. Fear, greed, and psychology drive the markets, not profits or analytics or anything else.

    • VK RGFAN
      VK RGFAN Ай бұрын

      The capitalistic system is built on constant growth which is Profit is Greed my friend, nothing but greed because otherwise why do you need infinite growth if you have enough of everything?

    • Truth above ALL
      Truth above ALL 3 ай бұрын

      After 15 years on Wall St I learned the most after being invested in GameStop since 2019 knowing it was gonna surge w the level of short interest the underbelly of our entire financial system is a Ponzi scheme especially since Trump deregulated banks but long b4 this as well

    • Boy Kulot
      Boy Kulot 3 ай бұрын

      @JIM VAV nah

    • Agent Cooper
      Agent Cooper 3 ай бұрын

      So who did you work for and what did you do? That will answer if you have a valid opinion or you are full of it.

    • ffflyin
      ffflyin 3 ай бұрын +2

      I cannot agree more. Fundamentally, the banking sector is modelled entirely wrongly. Of course a business is a business, but up till today despite all of the scandals and mismanagement over the years, you will find in banks that in-house legal, compliance, and risk teams are rewarded far less than bankers (the perpetrators of all the problems).
      The bankers themselves do not need to possess much specialist skill, and as Ryan points out, are actually not very bright at all. After all these years, they are still none the wiser to risk -- we do not incentivise the folk that safeguard the Banks and its customers, and instead pile on bonus upon bonus on those who churn profits; it is routine in bank for top-tier management to continually reward handsomely those who can "push" for business to happen no matter the cost, who can "push" legal and compliance to find some kind of superficial loophole to exploit. This language is rife in congratulatory emails, or pantry conversations about this or that C-suite manager. These are not things to be proud of, but are continuously praised and highly rewarded. This is what happens when profit generators helm banks, not those who have the specialist knowledge and skill as to keep a business alive and away from trouble.
      What this means is internally in every single global / Wall St bank you will ALWAYS find that the bankers put incessant pressure on legal and risk to stop being "unfriendly" or "difficult" to business regardless of the cost. For as long as the main earners are the bankers and not the ones who actually are clued in as to how to run a viable business (i.e. a profitable business who flouts all sorts of regulatory risks is in the long-term NOT viable), then nothing will change.

  • David Declercq
    David Declercq 6 ай бұрын +17

    Great video, I only heard about the archegos and greensill scandals and now I truly understand why they approached me to become a quantitative Risk analyst. They need to control their risk processes a lot better it seems.

    • ChrisJLee
      ChrisJLee 6 ай бұрын +9

      Lol really? Well I eat dinner with Elon musk everyday

  • Fuzz Culture
    Fuzz Culture 4 ай бұрын +76

    Axel lehmann , chairman , credit Suisse. The surname itself is enough to send shivers down the strongest spine 😂

    • Fuzz Culture
      Fuzz Culture 3 ай бұрын +2

      @Tillamook ofcourse he has no association. Was just a joke on his name :)

    • Tillamook
      Tillamook 3 ай бұрын +1

      Not the same as Lehmann Brothers. Crooked bankers do not need any association to be crooked.

  • Chris Millson
    Chris Millson 5 ай бұрын +209

    I'm 58 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, we are finding it impossible to replace it. We can get by, but cant seem to get ahead. My condolences to anyone retiring in this crisis, 40years nonstop just for a crooked system to take all you worked for,

    • I Just Fell Down
      I Just Fell Down 3 ай бұрын +1

      @Alexander G annoyingly enough, reporting this sort of spam is pretty much useless because the KZclip algorithm probably thinks it's legit thanks to the generous level of "interaction" in replies.

    • L4r N0
      L4r N0 3 ай бұрын

      if have cold money,, buy the physically gold..
      Because now,, the price of gold is under value than the due actual..

    • Krista Fischer
      Krista Fischer 3 ай бұрын

      @chris milson my husband and I have this discussion daily. When he starts worrying I worry. We’re constantly moving money from our savings to our checking account. In 9 years we’ve been able to put money into savings and not touch it, but now it seems like we’re moving it weekly. The banking system will be over soon as we head into digital currency, a thing my husband thinks is rubbish. It’s real and he refuses to take all the money out and use cash on hand to pay bills, get rid of unnecessary things we still have but don’t need. I was watching someone who said to take all your money now and buy something that will benefit you in the future. We’ve wanted an RV for years. Soon our chances for that will be done. Thousands of money gone.

    • Sky Olson
      Sky Olson 3 ай бұрын

      If you really want to keep your money safe, join Wall Street Silver and start stacking

    • Sky Olson
      Sky Olson 3 ай бұрын

      If you really want to keep your money safe, join Wall Street Silver and start stacking

  • Ash A
    Ash A 3 ай бұрын +4

    Amazing how nefarious these bankers have become yet no one faces punishment..smh

  • Adam Diroff
    Adam Diroff 3 ай бұрын +1

    Every financial goal requires patience, dedication
    and consistent spirit knowing that investment is
    currently the most lucrative business in the world,
    both NFT, real estate and Crypto shares are really
    positively changing people's lives.

  • Nathan Hobson
    Nathan Hobson 6 ай бұрын +123

    On a much smaller scale, I am Swiss and used to be a client of CS. They have a policy of stalling on transferring your pension fund to another bank if it's in their best interests to do so. It took me three and a half months, endless calls, letters and visits to the bank to get my 3rd pillar investment fund transfered to my new bank, meaning losses of many thousands of swiss francs that I had invested with them for my retirement. It is an absolutely disgraceful institution and I hope the regulators nail them, fat chance of that happening though.

    • Dab Da
      Dab Da 3 ай бұрын

      Looks like they will get nailed. But who knows.

    • Kiril Mihaylov
      Kiril Mihaylov 5 ай бұрын

      @thunder881 what are u talking about

    • thunder881
      thunder881 5 ай бұрын

      @Kiril Mihaylov wasn't another thing?

    • May L
      May L 5 ай бұрын +1

      @Mr K : Yeh... Well... Dog eat dog... Even my pension pot was robbed ....

    • Keith Whitty
      Keith Whitty 6 ай бұрын

      @Arminius ...because?

  • Yogesh Sharma
    Yogesh Sharma 6 ай бұрын +245

    There is one thing which is surprising. FT doesn't even let me read their articles, unless I pay for it, and here it has made a full fledged documentary and released it online, for free. Why ?

    • May L
      May L 2 ай бұрын

      If people wanted to work for a tech company, then why don't they work for a tech company then. A tech company is not a bank though. Know the difference. A bank is to serve people's transactions. Nothing complicated about that. This bank isn't an IB though.. It is a credit union... So how come everybody doesn't get this fact? I think that this article is basically created TO educate people from the differences.. Sure.. you may do some contracting work for this organisation... but sure... you do not build something for the organisation only to have them hacked to death into the future. What does this help any body ?? A bank is a mere multiplier... I find it odd that... in some countries.. say India... everybody owns some gold. And yet, they don't store the gold in the bank. They are BEYOND the wealth of SO many people.. and yet... They keep harassing SO many others.. on their wealth. So how come.. in India... most people live behind a gated door then ? They bring in the security teams. They bring in the gated residences... to do what with? Protect their dowries of gold ??? What a big difference... from HK... (But sure.. HK used to have those "every other day hacking" events as well.. til people calmed down.... and got rid of their attitudes... Sure.. it happens.)

    • May L
      May L 2 ай бұрын

      To the original poster, buying a magazine to get "insights" is what most average investors are supposed to do. They are not supposed to actully make funny electronical and digtal things to "gain their shares" of the money. Judging by the responses on this thread alone.. and judging their websites and pages globally... with a so called "Call Center in Pune"... I mean.. I can estimate what actually has happened to this very reputable company. Well.. if they restructure, and let domestic Swiss bank accounts be for current accounts. And then separate their global investments be for investments. Then so be it. WHY... are people in India SUPER greedy? You tell me. Even though I class myself as a British Cantonese.. I have found that... what I am reading these days on social media... absolutely removed from the so called 9 to 5 collar jobs. So much "media" and so many "celebrities"... and not enough substances !!!!! I am now beginning to see why.. bonuses literally is paid. Cos they managed to ensure that, "point to point" transaction can happen safely... Judging from this thread... and the media chaos... They have been 1) attacked, or 2) hacked.. or 3) fallen into criminal hands. The fact that I am able to read SO many "insiders' real life perspectives" goes to show to me that, they have fallen down in a super big way. The way was never decentralised...
      To me, I see a lot of jealousies... what has it got to do with anybody, if somebody has an account or not in the actual bank? And even so... even if those panama papers existed. So what?? One thing I recall was being shocked... when I found out that... "journalists " could have even MORE sophisticated technologies to be able to hacked into a law firm.. Than that could protect a bank. It goes to show you that.. actually.. if you can hack it. Then.. what is the point of banking? Why don't you create your own tokens and money and play "pretend". Oh.. guess what... the US side has done that with so called "bitcoins".... Sure... sure...
      It is like those stories that I read...." I came from a Harvard Business School.. and I want this and this and this." Er... your study is worth a quarter of a million... What "business" can you do that can make "more"? There is no more. The average person.. actually takes around their entire life... around 20-30 years.. to earn to reach a quarter of a million. That is the ultimate truth. So what and why do people still feel jealous? For what purpose, and why do you feel jealous ???? You are already earning beyond what most people do in their entire life time. People do not realises the ratios... especially when nobody talks about it online.

    • May L
      May L 2 ай бұрын

      @TheBooban : Blomberg is quite professional. FT is now quite retail.. in all honesty... and it is owned by the Japanese, isn't it ? There are two dual systems in the world, and that is fine. If some wants to invest in businesses, then let them invest in businesses. If some wants to do retail. Then let them do retail. What I think has happened is that china joined the WTO... and seriously... what is wrong with all of these so called "tech".... If today in 2022... we cannot even earn some money, and to keep the money in our bank account. This is a sad trajedy. I rather than we go out in a dignified way. I do think that for where I reside, euthanasia should and ought to be on the cards.. in all honesty... Money is also just a ratio. Remember that. I don't need to dig out the video about the chinese village lady who dumped millions into the local HSBC... lol... And she kept it for years underneath her bed in a biscuit tin. She really did that. And I used to think that this kind of story was like a myth... some kind of stories... But in reality, having watched social media.. and YT... This was REAL.... LOL..... OMG. Ignorance is genuine bliss.

    • virupaksha walla
      virupaksha walla 5 ай бұрын

      What happens when you put intelligence and cunning over culture. Meritocracy leads to sociopathic leadership.

    • virupaksha walla
      virupaksha walla 5 ай бұрын

      @Victória Romualdo example that isn't a virus lol. I used to copy and paste headline but thet tighten up

  • David Ong
    David Ong 6 ай бұрын +83

    Missed the fact that Credit Suisse suffered more from its investment banking activities and acted more like an investment bank. Actually prior to the last 3 years about half of its profit contributions came from investment banking which provided all the risky products and most of the risky trades and behavior. And finally, this FT review also left out it’s CSFB (First Boston) link where a lot of the risk and bad assets from the GFC losses and other book losses were swept under the carpet for many years only to surface later. Best option - break it apart and sell off to 3-4 tier Swiss banks better management.

    • Osman
      Osman 3 ай бұрын +2

      Sorry dude but CS collects majority of its profits from IB and private banking commissions and fees. Actually it was CS's IB division which managed to increase its profitability in 2021, meanwhile net interest income shrank.

    • Typical_Watcher
      Typical_Watcher 6 ай бұрын +2

      What is the surname of the chairman of Credit Suisse? Sounds familiar

  • Mark J
    Mark J 6 ай бұрын +192

    Listening to the first few seconds of this, I had to check if the date it was posted was 2008...
    Clearly the lack of consequences for those responsible for the last recession, means bankers have learned nothing.

    • Mike Thomas
      Mike Thomas 2 ай бұрын

      @klo schuessel No everyone does not play the system. Maybe bankers do, but then as a group the seem to have a minimal grasp of what constitutes ethical behaviour. And if you do not think the financial sector was not responsible for the 2008 crisis may I suggest you do some serious research into the matter.

    • Karl Diedrich
      Karl Diedrich 3 ай бұрын +1

      They learned they could get bailed out and may be making more connections to get more bail out if needed.

    • locks4
      locks4 3 ай бұрын

      They dont think lightening can strike twice in the same place

    • Aakeel Retiwalla
      Aakeel Retiwalla 4 ай бұрын

      Same I checked date if it was 2008.

    • klo schuessel
      klo schuessel 5 ай бұрын

      A few things…
      1. how where they responsible for the recession? Thing was a little bit more complex and it was the beginning recession/rising interest rates that pricked the housing bubble and then lead to banking troubles
      2. bankers and banks respond to incentives set and play the system
      Everyone does that

  • watchthe1369
    watchthe1369 Ай бұрын

    I wouldn't be surprised if UBS is still struggling itself. I would be cutting my exposure seriously if I was a customer in ANY big and exclusive bank right now.

  • blackjackskellington
    blackjackskellington 6 ай бұрын +147

    If any normal person without a large amount of money behaves in this way they go to prison.
    Yet a rich banker gets "time from shareholders" to turn it around.
    Disgraceful.

    • Ash A
      Ash A 3 ай бұрын

      You steal at a grocery store for $20 and you get jail time..yet bankers steal billions and nothing happens.

    • Rodrigo Oliveira
      Rodrigo Oliveira 3 ай бұрын

      @blackjackskellington like what?

    • blackjackskellington
      blackjackskellington 4 ай бұрын +6

      @JC9819 Except we all know the banks write the laws through lobbying. Things that most people would consider criminal are perfectly 'legally' normal in the financial sector.

    • JC9819
      JC9819 6 ай бұрын +3

      Well it dependes. If you are working for the company under the companys name you should not be held accountable if you make mistakes. However if the "mistakes" are illegal and you are responsible for them you personaly can be held accountable if you get sued.

  • Qasim Rashidi
    Qasim Rashidi 6 ай бұрын +45

    So far, it seem that all banks are just trying to avoid their turn from having their dirty side of the business exposed. To me, it just seems that this time it is credit Suisse. It does not seem quite a shocking event personally but rather an inevitable situation to all business involved in the dark sector of business world. ( money laundering, illegal money flows)

    • Tarabhai Pachas
      Tarabhai Pachas 6 ай бұрын

      Glad that they don't do terrorist funding!

  • Amrendra Singh
    Amrendra Singh 6 ай бұрын +66

    I love when scammers loot the scammers. Most of the deposits of credit Suisse is corrupt money.

    • May L
      May L 2 ай бұрын

      You are being fooled here.. dear man... This report is now written in 2022... But you need to learn history.. to know whether it was or was not a scam. Don't be fooled. I was watching another video about the Saudi Arabian Stock Exchanges.. and how much time it took them to stabilises.... 🤣😆... It is very fascinating. Never ever considered that for something to work, everybody has to pull in a certain way. Which... humanly speaking.. this is very very hard to do. lol.... Too many Chiefs.. and no Indians...

    • Kiril Mihaylov
      Kiril Mihaylov 6 ай бұрын +3

      Good one

  • D D
    D D 6 ай бұрын +3

    CS in Japan in the aughts. The BOJ did surprise inspections of most of the banks. They were looking to punish banks for excessive jpy trading and were sanctioning banks for any compliance/regulatory exception no matter how small. The way they did the audit was the banks provided a floor map of the offices and the BOJ went through the rooms one by one, ticking them off as they went. So what CS did was they altered the floor map to leave out one room. Then they put all of their objectionable, non-compliant files in that room. They nearly got away with it but the BOJ noticed there was a locked door they never had been through. Just another example of their rogue behaviour …

  • Gary CA
    Gary CA 6 ай бұрын +7

    Complacency and set in their old ways of doing banking business are doomed to failure...perhaps learning the hard lessons always comes with the ultimate price of liquidation of Credit Suisse or maybe asset stripping by UBS...remember no bank is guaranteed or immune from scandals for life, just like the venerable Queens bank, the Barings Bank which was also caught up in a scandal involving the Nikkei 225...

  • Rishabh Dwivedi
    Rishabh Dwivedi 3 ай бұрын +4

    What a coverage! Amzingly put. Well done, FT!

  • ZiNG
    ZiNG 6 ай бұрын +27

    People hate banks and trully not care about a Swiss firm making it back.
    In fact, people are fed up with the lack of accountability and would pretty much prefer scandalous bank leaders and their teams to see the insides of a prison cell for a few decades.

  • Ninety Nine
    Ninety Nine 6 ай бұрын +3

    Worked for a Swiss Private Banking group for 5 years and it was fascinating.

  • Pelorusjack
    Pelorusjack 6 ай бұрын +30

    As a Swiss I disapprove to have a system relevant bank with foreign CEO’s who haven’t a connection to our country and traditions. If us taxpayers once again have to help Credit Suisse we should demand of them a severe code of conduct. A bank doesn’t need to be in the news.

    • Musehana H
      Musehana H 3 ай бұрын

      ...do you have the same feelings about foreign monies coming into your banking traditions but coming from traditions not connected to yours?

    • Shingo Inu
      Shingo Inu 3 ай бұрын

      @Mohamed Lamine Toure At what point is Thiam considered "excellent"? He was at the helm for much of CS downfall!

    • the51ganxta
      the51ganxta 6 ай бұрын

      racist

    • Mohamed Lamine Toure
      Mohamed Lamine Toure 6 ай бұрын +4

      It is your racism that made the excellent Tidjane Thiam go. That's why credit suisse is falling down month after month. If Tidjane where at credit suisse until now, nothing of these bad results will happened. He would continue to make credit suisse a more profitable bank like it has never been.

    • Keith Whitty
      Keith Whitty 6 ай бұрын +2

      I think the problem is simpler than that. When the banks make a profit or even break even the bosses get a massive bonus. When the banks lose money the bosses have to give their bonuses back.
      Just kidding, they still get a bonus but slightly smaller.

  • watchthe1369
    watchthe1369 Ай бұрын

    "Top Notch" is not top notch if it puts you in the position of Credit Suisse. That talent should have got told the bonuses are cancelled until the skeletons get properly dealt with.. "Incidentally those who already have gotten the bank introuble are dismissed." ACCOUNTABILITY and you need to swing Thor's hammer to bang it into place.

  • Mark NC
    Mark NC 6 ай бұрын +30

    After the 9/11 attacks in 2001, Credit Suisse built a big IT center in Raleigh, NC to decentralize itself from having all its US operation being in the NYC area. It was a major employer in Raleigh. I did not work there. In the 2020 pandemic recession, I looked back at Credit Suisse to see if they were hiring. They had a few jobs but not much of interest. I looked elsewhere. I was not aware of their corporate demise. Wow.

    • MsDakoDako
      MsDakoDako 6 ай бұрын +7

      have you thought about writing a book documenting this fascianting experience? so glad you shared it with us all, incredible insight.

  • Junk Phu
    Junk Phu 6 ай бұрын +35

    I kinda feel sorry for the chairman of CS. I can tell he’s in full damage control mode, and I kinda believe his intentions are genuine to try and turn things around. Through the whole vid, he’s being very considerate of exactly he says. Actions speak louder of course, and we’ll see what happens.
    Seriously, if anyone is studying PR, watch what he says and how he presents his arguments.

    • CAL123
      CAL123 3 ай бұрын

      You are very trusting and optimistic.

    • CountryHack01
      CountryHack01 6 ай бұрын

      they dooo... dont hold jur breathe

    • Leon Henry
      Leon Henry 6 ай бұрын

      He was probably brought in to do damage control.

  • 99ch
    99ch 6 ай бұрын +70

    i worked for 10 years at credit suisse in switzerland. the hq even. it was a good time. my area had nothing to do with any scandals but we had to shake heads when hearing and reading about them. its such a pity because there are working lots of great people there. the management really didnt live up to standards and there are way too many jerks working in sales/wealth management.

    • It's Finnick Bitch!!
      It's Finnick Bitch!! 6 ай бұрын

      @99ch damn 8.24h is a lot, that's more than 100%. i could never work that much

    • Nick Goyas
      Nick Goyas 6 ай бұрын

      @A D I'll be the buzz kill of the matter, and i'll assume that the Langley Proxies never actually got ownership in Credit Suisse as they tried, now they released the "scandals" through their other proxies, the media :)
      Being Neutral comes at a price, the americans should actually learn that anything comes at a price, especially acting against countries they know nothing about.

    • Micha 139381
      Micha 139381 6 ай бұрын +1

      @99ch Sorry I'm too uneducated on this stuff to understand irony, but the things you describe seem to be some of the dodgiest things to work on in a bank. Didn’t that type of business cause 2007?

    • 99ch
      99ch 6 ай бұрын +1

      @keyser soze 8.24 is the norm in my country. Thats the working areas over 10yrs.

    • keyser soze
      keyser soze 6 ай бұрын

      @99ch lol how many hours u work?

  • Green Rachel
    Green Rachel 3 ай бұрын

    My career start in this bank, I moved to risk team, meet great colleagues. Then around 2017, our whole team got cut. Management chose today.

  • psusac
    psusac 6 ай бұрын +40

    you know, if any of these crooks ever went to prison, I bet the system would "reform" really quickly.

  • Maya P
    Maya P 3 ай бұрын

    Thank you FT for your important journalism!

  • Matthew Stinar
    Matthew Stinar 6 ай бұрын +37

    This is the banality of evil, the status quo of the global banking industry. You would find these same failings and much more if only you could truly scrutinize these evasively opaque institutions.

    • Reality
      Reality 3 ай бұрын

      if only? kzclip.net/video/np_ylvc8Zj8/бейне.html

    • cool trades
      cool trades 5 ай бұрын

      So , don't use a bank...simple...don't borrow . don't that, etc.

    • Kiril Mihaylov
      Kiril Mihaylov 6 ай бұрын

      @Thinking it is not that simple

    • Thinking
      Thinking 6 ай бұрын +1

      neither a borrower nor a lender be....Daniel Garrahan

  • Spurgendahl
    Spurgendahl 6 ай бұрын +22

    Credit Suisse is rapidly transforming into Debit Suisse.

  • Marc R
    Marc R 6 ай бұрын +19

    I have never worked for a more self-centered company. It will not change - just look at the salaries. More than 1300 senior manager have just one simple goal: stay as long as possible and get paid like nowhere else (1mio plus). No incentive to change the bank, just sit and earn.

    • Marco C
      Marco C 6 ай бұрын

      Spot on

    • Marc R
      Marc R 6 ай бұрын +1

      @zombie killa in total Germany 492 bankers earned more than 1mio. per year. At Credit Suisse alone it's 1'438.

    • zombie killa
      zombie killa 6 ай бұрын

      how is that not normal? here in germany local village banks managers want their million per year while charging 1,50 € per paper transfer from old grannies, raising account prices, the million has to be, below is inhumane

  • QQQQQman
    QQQQQman 6 ай бұрын +26

    Brilliant piece this. So professional in its editing, content etc. FT - the finest. Bravo.

  • ZeeNoFin
    ZeeNoFin 6 ай бұрын +26

    After the whole Greensil issue, it's pretty obvious this bank is a joke when it comes to risk assessment.

  • Jim
    Jim 5 ай бұрын +2

    While that clock ticks, I’ll be adding positions to Credit Suisse. Never let a crisis go to waste.

  • Jason
    Jason 6 ай бұрын +7

    The so callled International highly repuatable bank is just deguised to dupe investors and making money from trasaction , But the bank didn't have proper structure to control risky venture/investment

  • Stephen Kong
    Stephen Kong 6 ай бұрын +21

    If credit suisse has been ignoring a thing called 'risk management', they are not about to start now.

    • Dragan Stankovic
      Dragan Stankovic 2 ай бұрын

      I've heard that main risk manager at TFX is ex CS risk manager. It's really bad when an clearly under intelligent person thinks that they've figured out the life.

  • Czechbound
    Czechbound 6 ай бұрын +36

    And yet they've just recruited the Irish CEO of Ulster Bank as their EMEA Ops leader. She's known as a "shouter" - so no impulse control. This does not bode well ...

  • AnnonY Mouss
    AnnonY Mouss 6 ай бұрын +1

    Thé cultural arrogance was known for a long time. These problems were endemic and stored up since a very long time. They will rebuild from here independently. I remember in 2006 on about the infighting and competitive streaks between departments. This has not changed & I expect it to continue. I found the financing was less stringent than UBS. The risk & credit analysts were all known and mapped by our business.
    This new $CS will grow up finally under Alex.

  • fleischwolf82
    fleischwolf82 6 ай бұрын +12

    You give little blame to Urs Rohner, chairman for +10, vice-chairman for 2 and head of legal/compliance for 5 years.
    He didn't have any vision, sense of business and performed even poorly in the area of his expertise. Unfortunately he's a smooth talker and excellent networker, which kept him in power for far too long.

    • Garima Singh
      Garima Singh 6 ай бұрын

      Not to mention how he enabled insane bonuses for the C-suite during Tidjane's time.

  • jeronimo196
    jeronimo196 6 ай бұрын +164

    Gotta love managers bullshitting: "We have a 160 years history."
    Dude, you are a new hire among 50% new hires, looking for ticking time-bombs.

    • Sitraka FORLER
      Sitraka FORLER 6 ай бұрын

      It would be a huge blow for Switzerland if CS dies 😅

    • Girish Venkatachalam
      Girish Venkatachalam 6 ай бұрын

      😊😊😊😊

    • F Liu
      F Liu 6 ай бұрын

      CS will file bk, sad. Or get absorbed.

    • F Liu
      F Liu 6 ай бұрын

      just can't believe some guy with no verifiable background in business is running or was running the Most Prestegious Investment Bank in the world...just like some dude from China was the CEO of CalPer Retrement Employees system instruct the Retrement systems bought Chiense stocks all now donw to 90% loss and at $500 Billion dolls loss investment in China stock...too bad folks.

    • F Liu
      F Liu 6 ай бұрын +1

      law sue and few $B loss here and there total $12B losses, too bad.

  • Propelled
    Propelled 2 ай бұрын +1

    Halfway through this one.
    My take: We have dumbed down people too much. We have younger people coming to positions of power and influence with no morals, ethics, acumen or expertise. We see promotion of credentials, affirmative action and nepotism. This is what we get without wisdom, acumen, morals and ethics separated from accomplishment and proven excellence. We all get affected by highly placed Peter Principle easily manipulatable tools in big business and in government. To make things worse, they don't have a clue as to how damaging and stupid they are and their hubris and entitlement is so prevalent in inverse to their capabilities.

  • bearinch
    bearinch 6 ай бұрын +11

    I was a client in the CS a few decades: the service got just so horrible, that I had to leave them. There is no one interested in giving you any advice, nobody cares about you or your money. When you start to talk with somebody from CS, he will actually tell you after a few minutes, that nobody smart would ever put his money into the CS. I couldn't believe I'm told this independently from more CS employees, also on the phone, me calling as their client. But I knew this from business, as all those fat rich corporates are slowly falling apart, having trashed so much wealth our grandparents generated years ago. Fat + rich + lazy = out of business soon.

  • DavidJMa
    DavidJMa 6 ай бұрын +30

    Greenshill 'reinvented' supply chain finance that has been around for 300 years as a 'fintech' play. Anyone doing basic DD could have figured that out and questions would be asked.

    • MrGulth
      MrGulth 6 ай бұрын +3

      The interesting concept was adding its AI to reduce risk and find small farmers that held good credit. Sounds amazing but I guess the technology did not exist.

  • The Count Of Monte Cristo
    The Count Of Monte Cristo 6 ай бұрын +90

    It's simply astonishing to me that they have any clients left to make money from. That in itself should make you wonder what their motives are for staying with a bank that clearly has a issue of culture - to name one of their biggest concerns. Company culture is practically impossible to reverse, unless you sack everyone. Clients who lose money with Credit Suisse from this point forward only have themselves to blame, they have received ample warnings.

    • Naufal Triandi Roziqi
      Naufal Triandi Roziqi 3 ай бұрын

      Aren't their clients dictator and despots?

    • Stefan F.
      Stefan F. 3 ай бұрын

      @fatalityInOne sorry, but you do not have a clue how banking works. Plus, you don't know how income tax works.
      Trust me, all the banks - small or big, local or global - do everything to "optimize" their revenues. Sparkasse does it, the Landesbanken do it, Deutsche Bank, Commerzbank etc. It doesn't matter. I've seen from inside (and still do).

    • fatalityInOne
      fatalityInOne 6 ай бұрын

      @Stefan F. And CS is global, this is the infamous bank that has the world at chokepoint with its country rating. It is the main institution that determines what a country is worth, how much a debt a country can make and when a country is bankrupt. Does sound strange that a private bank located in Switzerland has so much power? While the bank itself is shady to the core? Live with it.

    • fatalityInOne
      fatalityInOne 6 ай бұрын

      ​@Stefan F. No, it is no secret that rich people have bank accounts in Switzerand, because the Swiss have almost no tax on wealth and a very strict banking secret.
      Would those people be responsible human beings and pay their taxes in their countries the situation would look a lot different.
      As example both in Germany and Austria cooperative banks (VR, Sparkasse, Sparda) always have to pay back any losses they created to their customers by recless investing and even pay back up to 4 million in case of unforeseen disasters like an economy crash. But those banks cost a lot more monthly.
      And it is simillar with private banks here, but those just have to guarantee 2million€ for both recless behaviour and unforeseen things and are as result a lot cheaper.
      So, I can only agree to OP, those people don't deserve any kind of compassion, they chose the Swiss banks, knowing full well the risks for just saving up on tax and fees

    • katana2k
      katana2k 6 ай бұрын

      @Tarabhai Pachas Financial Times is based in London.

  • Luxus Häuser
    Luxus Häuser 6 ай бұрын +22

    Incredible!! Good point made at 4:00 by Natasha Harrison. Impressive integration of the clock mechanism throughout the video.

  • LTNetjak
    LTNetjak 6 ай бұрын +204

    Credit Suisse treated me like dirt when I was attempting to open an account when I was in the country for school. Sat me in a room for over an hour just to tell me they don't take Americans. Told them off, walked across the street and UBS got me opened up in 15 minutes, along with a personal concierge and chocolates after I told them what happened with their rival.
    These troubles give me great schadenfreude.

    • May L
      May L 3 ай бұрын

      I remember visiting Zurich in my 20s bagpacking as a student, I just recall that, their banking machines were really sophisticated, even for that period of time. At that time, the UK ones were not even automated yet. Yet, the procedure was quite formal and strict. They also have safety boxes too. I also do not like the current "tele-banking" which is offshore either. That is just... Which reminds me, to consider changing my current bank account. I absolutely do not like the "California smart casual style"... banking! A bank is not a bank, if they do not have safety boxes, let me put it that way. The number of times that I have had with regards to my bank calling me for "fraudulent calls" were quite high...
      I know that in the States, you guys don't have this "American banks", and then "credit cards for travel in foreign country" kind of thing... You're like the chinese. "Why can't I use WeChat here?" Er... because it is a system that belongs to your country only? Each country have their own way of banking. I don't think that it is snobbish if they turned you away. Maybe they just accept current accounts, but not allow you to open credit card accounts, or foreign accounts.

    • May L
      May L 3 ай бұрын

      European banking is very different to American banks. Besides, isn't Credit Suisse an actual Central Bank, and not a high street retail bank ? Even in the USA, you guys don't have that difference in classification as well. Most are just a mere "payment options" or transaction handling company, and not a bank bank. This is why, I don't even understand how America has gotten to where it has gotten to, to begin with. I don't think that what these gentlemen have stated is really explicit to Swiss banks. It was similar in the UK too, at one point in time. Banking, is about taking care of your customers. They are mere custodians of your money. I don't really like what is currently happening in the UK. And all of these so called app banks. I really don't like it. Nat West used to be a really good bank. Similar to Credit Suisse. It is quite sad what's happening to Europe. People were polite, not rude. You just know that you would not lose your money, or that it will be at risk of being stolen. These days, the chances of your money disappearing from your "app" is quite high ! A bank is a bank. A mobile tablet, is for gaming.

    • ddandymann
      ddandymann 3 ай бұрын

      @Nina Nina So regular American citizens are too risky to do business with in Switzerland but corrupt Russian oligarchs are ideal clients, gotcha.

    • Kartoffel Suppe
      Kartoffel Suppe 3 ай бұрын

      So show your black amex card and they will welcome you.

    • Kartoffel Suppe
      Kartoffel Suppe 3 ай бұрын

      Troubles for credit suisse means troubles for switzerland
      Swiss Air carriers names are UBS and credit suisse.

  • David T
    David T 25 күн бұрын

    After the end of banking secrecy Switzerland lost its edge and now has to do something that is not used to do: compete. This explains what is going on now in CS and also other ch banks. Good old days are over for Switzerland. What Switzerland has to offer now vs Frankfurt for example? Switzerland does not even have full access to the much bigger EU financial market in many areas, not to mention the lack of professional, transparent mentality and the undustified high costs that are paid in CH (not for too long I guess).

  • Max DC
    Max DC 3 ай бұрын +2

    It's hard to be sanguine when your most important asset in wealth management, reputation, is in tatters. 😂

  • Vava Leo
    Vava Leo 6 ай бұрын +10

    The task is simple.
    Restore integrity and credibility before the investors run away with their money.
    The execution of that task remains to be seen.
    Whomsoever thought that money couldn't be attached to ethics and morals, better think again.

    • cool trades
      cool trades 5 ай бұрын +1

      Obviously history is not your strong point:))

  • Hi Me
    Hi Me 4 ай бұрын +63

    I will forever be indebted to you you've changed my whole life continue to preach about your name for the world to hear you've saved me froma huge
    financial debt with just little investment, thanks so much Mrs. Sophia

    • Moon Sun
      Moon Sun 4 ай бұрын

      Trade with her and remember to share testimonies with others

    • Michael Jeri
      Michael Jeri 4 ай бұрын

      Yes but do you know I have been paid out today

    • Mavis
      Mavis 4 ай бұрын

      @Michael I'm from Germany 🇩🇪 I used to take loan from the bank for surviver but after trading with expert Mrs Sophia she changed my financial status for real

    • Michael
      Michael 4 ай бұрын

      I've never heard or seen any of her clients complain of Lost....I think she's just too perfect

    • Beniza
      Beniza 4 ай бұрын

      Mrs Sophia is very good at bitcion trading

  • whomadethatsaltysoup
    whomadethatsaltysoup 3 ай бұрын +7

    Excellent! Very clear, informative insight into the murky world of banking. And a very compelling argument against allowing these, completely unregulated, entities to control our national institutions - be it utilities or public services.

    • C Cahill
      C Cahill 3 ай бұрын

      whomadethatsaltysoup, You just said it. And there is a perfectly legal and democratic way to do it. That is, "instead of arguing about the clock being fast or slow" --fix the clock. Nationalize the Central Bank.

  • Perro007
    Perro007 6 ай бұрын +23

    They don't say much about the individuals actually making those high risk positions. Only very high level of managers not keeping an eye on things properly. Where do those dealers/fund managers come from? Are they the cowboys that relocated from London? London and the UK have the biggest money laundering facilities in the world. Gibraltar, Cayman Islands, Guernsey, Jersey, British Virgin Islands, Bahamas ....... need I go on?

    • JJ I
      JJ I 6 ай бұрын +5

      The US has them beat but keeps it even quieter: Delaware corporation.

    • ZiNG
      ZiNG 6 ай бұрын

      Well said

    • sdfswords
      sdfswords 6 ай бұрын

      All true dat, England was an economy built by pirates, still is!

  • guildzer
    guildzer 6 ай бұрын +2

    Imagine firing a superstar CEO who turned one of the biggest banks in England from Zero to Hero because he attended a sports final ultimately paying millions. For me the story doesn't smell right, he probably wanted to change a lot of things in credit suisse that left a lot of people very uncomfortable.

  • Abdulla Shaikh Usman Shaikh
    Abdulla Shaikh Usman Shaikh 6 ай бұрын +21

    My only question when something like this happens is how do you lose 160billion?, where does is it all go? All of these suits can talk all day but how is someone allowed to 'lose' all that money?

    • ChrisJLee
      ChrisJLee 6 ай бұрын +1

      If you watched the video, they mentioned that CS gave all those loses to their client’s pool of investments.
      So it’s considered “part of the risk”, and there’s nothing the clients can do about it. Or probably aren’t even aware of it. Since having drawdowns are a part of investing.

  • Dieter H
    Dieter H 6 ай бұрын +9

    The whole bashing aims to further reduce the share price and then to make a fat, safe bargain. This is a great bank and the share price will double within the next 2 years.

  • James Byrne
    James Byrne 6 ай бұрын +12

    the longer i live the more i feel there is so much corruption. this is why capitalism isnt perfect

    • Nina Nina
      Nina Nina 6 ай бұрын +2

      Especially regarding in relation to the last two years in the so called "health" sector. Highly corrupted...

  • Jeff Andre
    Jeff Andre 2 ай бұрын +213

    Despite the economic Recession, There are many sectors that will make good returns off your capital, I'm financially in the best shape of my life. In the past three months of investing, I've been able to generate my yearly income. Even in a bear market, profits can be achieved. Maximize your use of it.

    • Neil Thompson
      Neil Thompson 2 ай бұрын

      Kathryn Jo Garvin financials has really made a name for herself

    • Kingston
      Kingston 2 ай бұрын

      Do you know how much is ok for a start let me know if I can do this

    • Alex Arnold
      Alex Arnold 2 ай бұрын

      There have never been a better time to invest in Crypt0currency than now

    • Lawvleens world
      Lawvleens world 2 ай бұрын

      I've come across reference to Kathryn Jo Garvin financials a couple times here I've comeon KZclip , I'm reaching her this time.

    • Eugene Russell
      Eugene Russell 2 ай бұрын

      The importance of trading with a professional who understands the market cannot be over emphasized, if you want to make the most of the market, I'll suggest you trade with a professional broker

  • dominicesteban rice
    dominicesteban rice 6 ай бұрын +18

    Echoes of Enron.....kept hanging on for years with reboots and fresh starts but the rot was terminal.....then broader market stresses pushed it into the grave it had dug for itself.

    • Deborah Curtis
      Deborah Curtis 3 ай бұрын

      I'm not a paranoid gold bug but you have to ask yourself if we are going to see more institutions fail and what is going to stop it this time if governments are maxed out.

    • Thomas Good
      Thomas Good 5 ай бұрын +1

      That case was even worse.

  • Tom Jones
    Tom Jones 6 ай бұрын +7

    the sheer malicious joy when their cashier told me i couldn't do my next transaction yet, because they had to do some AML checks

  • Sunray
    Sunray 6 ай бұрын +7

    As long as they stay in their history, it repeats itself!

  • TheMrFishnDucks
    TheMrFishnDucks 6 ай бұрын +5

    Awesome and very gripping documentary. Nice video. Keep up the good work.

  • M Harley
    M Harley 4 ай бұрын +6

    Looking at this video from 2 months where Credit Suisse is now on the verge of collapse, it’s hilarious.

  • Sarah
    Sarah 6 ай бұрын +2

    How about giving a CEO more than 12 months to fix things? Its similar to western politics vs Chinese politics imo

  • stephen connolly
    stephen connolly 4 ай бұрын

    I had dealings with one this banks subsidiary twenty years ago and they repeatedly lied and were could out and even after order by a court to pay they ignored the due payment date. I done a little research on this bank and found hundreds of legal case against them.

  • Hendsen Tjhi
    Hendsen Tjhi 6 ай бұрын +17

    Risk Taking was rewarded. Risk for the clients, reward for the banks/wealth managers. Let that sink in!

  • F C
    F C 6 ай бұрын +3

    The very top level management are going the right way but risk and compliance needs to be embedded in every day in every way. And that takes breaking up the mini empires running in CS. It may take a mass firing to get rid of those people.

  • Jay
    Jay 6 ай бұрын +5

    5:54 no, this is Swiss banking culture. I’ve seen other top executives/whistle blowers from other banks make that same statement, people following them, watching them/spying

    • A D
      A D 6 ай бұрын

      Exactly the amount of people that think this is limited to this bank are kidding themselves. Swiss culture is based on screwing the world to make money. Pure scum

  • Davide Scott
    Davide Scott 6 ай бұрын +26

    Nice video!!Very engaging from the beginning to the END ,I’m new to trade and I have been making huge losses but recently seen a lot of people earning from it.Can someone please tell me what I’m doing wrong

    • Derpasaurus
      Derpasaurus 6 ай бұрын +1

      Lol bots

    • Austine Austine
      Austine Austine 6 ай бұрын

      When I saw testimonies all over the place I thought they were bots or made up till I was convinced and gave it a try and honestly I don't regret the move I made because I invested my savings.

    • Jorleixis hernandez
      Jorleixis hernandez 6 ай бұрын

      I'm originally from warsaw,poland.
      I and my Chinese and American friends gave her a try, she's performing wonders . Mrs Teresa gave us a nice and relaxing attention

    • Jeff Hughes
      Jeff Hughes 6 ай бұрын

      A friend that I referred to her just received €9,050 profit after 10 days of investing.... I became jealous.. Lol

    • Collins
      Collins 6 ай бұрын

      Am placing my trade with Teresa ASAP.

  • denton1972
    denton1972 6 ай бұрын +3

    Very good overview. One hundred years ago Detroit's glory days were beginning. Henry Ford and the Ford Motor Company had put the world on wheels, and General Motors was taking its first steps to eventually become the world's largest corporation. Ford, the Dodge Brothers, the Fisher Brothers, Walter Chrysler, Harvey Firestone and many other industrialists had put the foundations to build the world's largest industry and personified America's industrial supremacy. The world's largest yachts were not docked in Monaco or Ibiza but at the Detroit Yacht Club on the Detroit River and the Grosse Pointe Club a few miles down Lake St Claire. Now look at Detroit today... Yes, Ford, GM and Chrysler are still around but they are not anywhere close to what they were until the late 1970s. Moral of the story -- be careful as whatever goes up also comes down.

  • john truman
    john truman 5 ай бұрын +3

    Why on earth are they allowed to carry on trading as a bank, close it as a warning to the banking sector that they will close you down.

  • Oscarspoem
    Oscarspoem 6 ай бұрын +16

    I am not very educated in these sort of things. I do really like the way the video is presented, no drama, just facts.

  • rupertpupkin27
    rupertpupkin27 3 ай бұрын

    fascinating! great work FT!

  • T CI
    T CI 3 ай бұрын

    Great documentary. CS is a lousy institution in terms of ethics and Governance. They do whatever is needed to get a fat fee. Among people who works on the real economy we chat about CS as a bank that does any thing with anyone in anyway.

  • Erin Prasetyanto
    Erin Prasetyanto 2 ай бұрын

    Switzerland, the birthplace of the Basel Framework for bank risk management. Are they breaking their own rules? I have 19 years experience at a Japanese bank, and must pass risk management certification for bank and understand how to enforce it, strange if the Swiss Bankers didn't do it

  • Mateusz Magiera
    Mateusz Magiera 6 ай бұрын +1

    Great documentary!

  • Keith Whitty
    Keith Whitty 6 ай бұрын

    Near the end of the video a guy tells us the the Swiss government is weak and doesn't like to intervene in banking. Well the intervened pretty deeply when it came bailing the banks out in the GFC!

  • AG Draaijer
    AG Draaijer 6 ай бұрын +5

    Let them have karma. Seen CS doing regularly pump and dump on penny stocks on a good news release by "becoming a substantial holder" then next (few) day(s) they sell the whole lot (cease to being a substantial holder). Retail is then getting trapped by buying in at good news then loses alot of money and becomes a bag holder, market manipulation at its finest. Have myself been fortunate, and if I see CS joining a party at rising stock these days, then I know its time to put a stop-loss and try to sell at a higher price.

  • Merlin
    Merlin 6 ай бұрын +4

    Unbelievable ineptitude and internal risk mismanagement, to say nothing on the Swiss regulatory authorities. I do believe they are most likely going to fail and when they do, not if, that will start all the EU banksters to fall like a pack of cards. None of them have liquidity and the ECB does not have the assets to bail them all out, so bye bye the fiat Euro, then the US. Troublesome times ahead for them in this Q3 or all of us in Q4 latest. I hope not.

    • Deborah Curtis
      Deborah Curtis 3 ай бұрын

      @Sami s Obviously to conduct a bank bail-out.

    • Sami s
      Sami s 6 ай бұрын

      What has ECB to do with CS?

  • L V
    L V 5 ай бұрын

    Really interesting documentary!

  • Peter Thomas
    Peter Thomas 6 ай бұрын +34

    Credit Suisse share price in 2000 CHF87.00 Credit Suisse share price in 2022 CHF5.11. Down 77% overall. Tells you all you need to know.

    • May L
      May L 2 ай бұрын

      They embraced the "Fin Tech" ..... LOL..... " But this IS the trend"..... (and then hacked, left, right and centre)..... Well, it happens, and then other companies robbed them of their wealth.... and then they are left with the duds... It happens...

    • Thomas Good
      Thomas Good 5 ай бұрын +2

      @Colin Burnside Was it 'Miss Management' or simply 'Mismanagement'??

    • A D
      A D 6 ай бұрын

      @Colin Burnside *Swiss Culture

    • Kiril Mihaylov
      Kiril Mihaylov 6 ай бұрын +1

      @Idok Watcher yes like Boeing management

    • Kiril Mihaylov
      Kiril Mihaylov 6 ай бұрын

      @Colin Burnside all major banks do it

  • gbickell
    gbickell 6 ай бұрын

    The backward thinking that they had to employ "heavy hitters" and big names is simply absurd. The financial markets are at the whims of people and finding competent, steady folk is difficult.

  • Pavan bhosle
    Pavan bhosle 4 ай бұрын +5

    Isn't it ironical that the chairman is named Axel Lehman?

  • jasxteo
    jasxteo 6 ай бұрын +4

    I used to work in credit Suisse as a contractor in private banking arm as I want to know if this is the right industry for me. Saw and heard a lot of undesirable conversations on the floor where the private bankers talk to their clients and worse among themselves ( the bankers are just glamourised hooligans using guns and bullets peppered in their convo. ) this was in 2009. I fled the co and finally see what I already trust how bad this bank is in 2022. Frankly credit suisse really should fold up instead of continuing its existence.

    • Reality
      Reality 3 ай бұрын

      then youll love this one too kzclip.net/video/np_ylvc8Zj8/бейне.html

  • nikkola84
    nikkola84 6 ай бұрын +13

    great documentary

  • Randal Montgomery
    Randal Montgomery 6 ай бұрын +2

    Very well done docu. Shows you cannot trust banks and other large financial institutions.

  • Amoroso Gombe
    Amoroso Gombe 6 ай бұрын +18

    Softbank is the Credit Suisse of venture capital. Jesus. It's like they only make bad investments.

    • Avantime
      Avantime 6 ай бұрын +1

      @HKim0072 Son was a one-hit wonder with Alibaba. Now even Alibaba is sinking fast, along with Son's other investments. ARM's listing might turn into another bust.

    • Frostie-Flake
      Frostie-Flake 6 ай бұрын

      Do bad investments of SoftBank cover up dirty money?

    • HKim0072
      HKim0072 6 ай бұрын +1

      Son has been boom and bust. 2nd time around.
      They’ve made a ton of good investments though.

  • E. Djamili
    E. Djamili 6 ай бұрын

    What's about an MBO ? And to have a structure like the big4.
    If the stock price continue to fall, it could definately be possible ^^

  • Ана Стоянова
    Ана Стоянова 6 ай бұрын +1

    I'm so ashamed of my country.

  • Fred NAME
    Fred NAME 6 ай бұрын +3

    Extremely well done! EXCEPT failing to point out the present chairman keeps pointing to its 165 year history, and ignores the reality of it's fraudulent culture, WHEN the bank is FAR from its historic origins, with its greedy bankers, speculative managers, promoting high risk investments!

    • Fred NAME
      Fred NAME 6 ай бұрын

      What? Are you going to offer me Well Fargo options fraudulent to the core?

  • sugarsaint
    sugarsaint 2 ай бұрын

    All Investments opportunity's come with a warning "the income from them can fall as well as rise and you might lose the original amount invested"
    I don't see a single issue here until it comes to super wealthy and banks, then the dummy is spat out of the pram

  • Arun Shah
    Arun Shah 4 ай бұрын +1

    The world thinks THE SWISS BANKS are the best managed, have the best financial controls credit controls - and this video shows that no banker/s countries should every be trusted by name, years of experience or their high profiles advertising

  • M A
    M A 6 ай бұрын +2

    business model relying too much on ultra rich to grow, should balance better with bank's own organic growth like trading and other investment banking stuff.

  • Procer Pat
    Procer Pat 4 ай бұрын +2

    Bottom line: the sanctions against the Russian Oligarch Mafia have hurt them badly.

  • Yoon Lee Kok
    Yoon Lee Kok 6 ай бұрын +6

    This is why Iceland is my favorite country. They jail their bankers :-D

  • Nelson Gonzalez
    Nelson Gonzalez 6 ай бұрын +3

    The reputable capitalist institutions are under fire 🔥🥵 and are failing....is it corruption or poor management? Money talks all the time 🤣☺️