Get Started for FREE
Sign up with Facebook Sign up with X
I don't have a Facebook or a X account
 Your new post is loading...
Your new post is loading...
Scoop.it!
New approach is needed to get UK through looming credit crunch after failure of recovery from crash 
No comment yet.
Sign up to comment
Scoop.it!
Shares in Credit Suisse have plunged to a record low, in the wake of last week's collapse of Silicon Valley Bank in the US. The Swiss bank - which has been beset by problems - saw its share price fall by as much as 30% at one point.
Graham Watson's insight:
The Credit Suisse situation is an interesting one, with the Swiss government offering a sizeable loan of £44bn from the Swiss central bank. So are we on the brink of a financial crisis?
Commentators think not - despite a series of setbacks - although one or two people are worried about the prospects of contagion. This BBC clip gives some of the background, but spare a thought for the poor executives, who've trousered millions in salaries whilst presiding over this. Another example of why executive pay is so absurd.
|
Scoop.it!
The deal, backed by the Swiss government, follows weekend-long talks aimed at preventing the bank's collapse.
Graham Watson's insight:
It seems as thought the Swiss have taken pre-emptive action to prevent the collapse of Credit Suisse, with banking giant UBS stepping in, with the support of the Swiss government.
Is it panic over? Monday will see.
Scoop.it!
There has been no consistency to the regulatory changes during the coronavirus crisis
Graham Watson's insight:
Slightly niche perspective from the Howard Davies, reflecting upon the large of regulatory convergence in the banking sector, and the lack of co-operation implies that economic recovery will be harder to generate than might otherwise have been the case.
One for the cognoscenti, perhaps?
|
It's not 2008. But it seems like it might be 2008-lite.
Have we learnt anything? Richard Partington thinks that, on balance, we probably have...