Will the Collapse of Credit Suisse Be Europe’s “Lehman Brothers Moment”?

 Will the Collapse of Credit Suisse Be Europe’s “Lehman Brothers Moment”?

by Michael Snyder October 2, 2022

 

The parallels between 2008 and 2022 just keep getting stronger.  14 years ago, the collapse of Lehman Brothers sent a massive wave of panic through global financial markets and is widely considered to be the key event that plunged us into a horrifying financial crisis that we still talk about to this day.  Well, now an even larger bank appears to be on the brink of collapse, and analysts all over the world are deeply concerned about what that will mean for the global financial system if it does fail.

Right now, Credit Suisse is one of the most important banks in the entire world.  If you are not familiar with Credit Suisse, the following is some good background information that comes from Wikipedia…

Credit Suisse Group AG is a global investment bank and financial services firm founded and based in Switzerland. Headquartered in Zürich, it maintains offices in all major financial centers around the world and is one of the nine global “Bulge Bracket” banks providing services in investment banking, private banking, asset management, and shared services. It is known for strict bank–client confidentiality and banking secrecy. The Financial Stability Board considers it to be a global systemically important bank. Credit Suisse is also primary dealer and Forex counterparty of the FED .

Credit Suisse is truly one of the central hubs of the entire international banking system.  If it were to fail, the ripple effects would be felt very deeply in literally every nation on the planet.........To Read More....

My Take - I've been saying for some time the EU as in institution is doomed and when it collapses it will take all of Europe down the toilet and Russia and China will be dragged down with them.