Wednesday, 11 February 2009

Yet another bank reports a loss

Today, it was the turn of Credit Suisse. They reported a CHF8.2 billion loss.

Still, there were some great years before 2008. Such times, such memories; will we ever see such days again.

Oh, I hope not.


Anonymous said...

"Such times, such memories; will we ever see such days again ?"

Yes ...

...after the war.

Roy said...

Profits in the good years are still greater than the losses last year.

Perhaps there is still some hope for swiss banking.

AntiCitizenOne said...

CS Probably mitigated it's losses by writing UP the falling value of it's own bonds (lower liability = asset).

mike said...

Here is an interesting sum-up of where we are at the moment in the Telegraph:

"The IMF says European and British banks have 75pc as much exposure to US toxic debt as American banks themselves, yet they have been much slower to take their punishment. Write-downs have been $738bn in the US: just $294bn in Europe. "

That suggests the write-downs have only just begun! We have a lot more to come.