Legal Law

Credit score Suisse To Cease Doing Factor It Wasn’t Making Any Cash On Anyway

Of all the soul-searching Credit Suisse has done in the last couple of years, and there has been a whole lot of it, none can have been more baffling than trying to figure out how it could have unknowingly assumed so much counterparty risk with a single client that it then had to (allegedly) collude with its competitors to avoid taking a $5.5 billion hit, which it then failed to do, all the while not actually making any money on the trades that led to said series of unfortunate events. So, uh, it’s not going to do that sort of thing anymore.

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