Stock Crew 2023: Broke but identifying as 🦍 before it was even cool. 🫨

[SlickStick]

They would get bought out and your assets would transfer

You’re fine

Not worried about it, more just wondering how you'd go about proving ownership in this type of situation out of curiosity... or if anyone else was doing any sort of equity portfolio backup.

 

[Gort]

 

[digital jello]

 

[stevezissou]

Unlimited fed window is open now

 

[H.E. Pennypacker]

 

[SkiMax]

All these banks gonna come to the gov with their hands out now

 

[Hisma]

All these banks gonna come to the gov with their hands out now

ima post this again

 

[jaspirr]

what is this Credit Suisse bullshit?

yesterday we rallied 500 points after the US Government basically promised to bail out any bank that is having issues and promised not to let 2008 happen again

today, we drop 600 points because a Swiss bank is having some issues with raising additional capital?

i know Credit Suisse is a big deal globally but this doesn't seem to me that it should cause the US market to tank like this

 

[rcm]

what is this Credit Suisse bullshit?

yesterday we rallied 500 points after the US Government basically promised to bail out any bank that is having issues and promised not to let 2008 happen again

today, we drop 600 points because a Swiss bank is having some issues with raising additional capital?

i know Credit Suisse is a big deal globally but this doesn't seem to me that it should cause the US market to tank like this

List of systemically important banks - Wikipedia

en.m.wikipedia.org

G-SIB baby

 

[Hisma]

what is this Credit Suisse bullshit?

yesterday we rallied 500 points after the US Government basically promised to bail out any bank that is having issues and promised not to let 2008 happen again

today, we drop 600 points because a Swiss bank is having some issues with raising additional capital?

i know Credit Suisse is a big deal globally but this doesn't seem to me that it should cause the US market to tank like this

Let's just use some logic here and say that systemic risk of our global financial system collapsing shouldn't really cause markets to rally.

 

[digital jello]

what is this Credit Suisse bullshit?

yesterday we rallied 500 points after the US Government basically promised to bail out any bank that is having issues and promised not to let 2008 happen again

today, we drop 600 points because a Swiss bank is having some issues with raising additional capital?

i know Credit Suisse is a big deal globally but this doesn't seem to me that it should cause the US market to tank like this

good lord in heaven you gave this man a lambo

 

[I<3URANUS]

What the fuck.

 

[Simple]

what is this Credit Suisse bullshit?

yesterday we rallied 500 points after the US Government basically promised to bail out any bank that is having issues and promised not to let 2008 happen again

today, we drop 600 points because a Swiss bank is having some issues with raising additional capital?

i know Credit Suisse is a big deal globally but this doesn't seem to me that it should cause the US market to tank like this

@stevezissou queue the CONTAGION

 

[stevezissou]

@stevezissou queue the CONTAGION

SYSTEMIC

 

[jaspirr]

@stevezissou queue the CONTAGION

good lord in heaven you gave this man a lambo

i hope you guys are just trolling

Credit Suisse did not go bankrupt and is not insolvent. One of their investors, who owns 10% of the stock, informed them that they won't be investing any more into the company. That is not a global financial system collapse. There's no run on the banks happening.

 

[Simple]

SYSTEMIC

HISTORIC

 

[Menger]

 

[stevezissou]

SCHW - Schwab Charles Corp - SEC Form 4 Insider Trading Screener - OpenInsider

Insider trades for Schwab Charles Corp (SCHW). Monitor SEC Form 4 Insider Trading Filings for Insider Buying and Selling. Real-time Insider Trading Stock Screener. Long and Short Trading Ideas using Insider Transaction Data.

openinsider.com

 

[SkiMax]

i hope you guys are just trolling

Credit Suisse did not go bankrupt and is not insolvent. One of their investors, who owns 10% of the stock, informed them that they won't be investing any more into the company. That is not a global financial system collapse. There's no run on the banks happening.

I think, more specifically, he informed an online community that he would not recommend touching ANY banking stock for the next 60 days…

 

[stevezissou]

i hope you guys are just trolling

Credit Suisse did not go bankrupt and is not insolvent. One of their investors, who owns 10% of the stock, informed them that they won't be investing any more into the company. That is not a global financial system collapse. There's no run on the banks happening.

They came out and said they had a "material weakness" in their financial statements for 2021 and 2022 is what started it.

Credit Suisse shares sink as ‘material weaknesses’ found in financial reporting​

"
The SEC conversation related to a “technical assessment of previously disclosed revisions to the consolidated cash flow statements in the years ended December 31, 2020, and 2019, as well as related controls.”

In the Tuesday annual report, Credit Suisse revealed that it had identified “certain material weaknesses in our internal control over financial reporting” for the years 2021 and 2022.

These issues related to a “failure to design and maintain an effective risk assessment process to identify and analyze the risk of material misstatements” and various flaws in internal control and communication.

Despite this, the bank said that it was able to confirm that its financial statements over the years in question “fairly present, in all material respects, [its] consolidated financial condition.”"

Credit Suisse shares sink as 'material weaknesses' found in financial reporting

Credit Suisse said its net asset outflows had "not yet reversed," and that "material weaknesses" were identified in its financial reporting processes.

www.cnbc.com

 

[rcm]

i hope you guys are just trolling

Credit Suisse did not go bankrupt and is not insolvent. One of their investors, who owns 10% of the stock, informed them that they won't be investing any more into the company. That is not a global financial system collapse. There's no run on the banks happening.

@gimpshiznit post CS 5yr CDS chart pls

 

[digital jello]

HISTORIC

TRANSITIVE

 

[SkiMax]

They came out and said they had a "material weakness" in their financial statements for 2021 and 2022 is what started it.

Credit Suisse shares sink as ‘material weaknesses’ found in financial reporting​

"
The SEC conversation related to a “technical assessment of previously disclosed revisions to the consolidated cash flow statements in the years ended December 31, 2020, and 2019, as well as related controls.”

In the Tuesday annual report, Credit Suisse revealed that it had identified “certain material weaknesses in our internal control over financial reporting” for the years 2021 and 2022.

These issues related to a “failure to design and maintain an effective risk assessment process to identify and analyze the risk of material misstatements” and various flaws in internal control and communication.

Despite this, the bank said that it was able to confirm that its financial statements over the years in question “fairly present, in all material respects, [its] consolidated financial condition.”"

Credit Suisse shares sink as 'material weaknesses' found in financial reporting

Credit Suisse said its net asset outflows had "not yet reversed," and that "material weaknesses" were identified in its financial reporting processes.

www.cnbc.com

Is "material weakness" above or below "going concern"?

 

[Simple]

Is "material weakness" above or below "going concern"?

i believe studies show that companies that disclose a material weakness in their internal controls do not really have much impacts to their market value. but it's likely because markets already price in that they're a pizza

 

[rcm]

i hope you guys are just trolling

Credit Suisse did not go bankrupt and is not insolvent. One of their investors, who owns 10% of the stock, informed them that they won't be investing any more into the company. That is not a global financial system collapse. There's no run on the banks happening.

@jaspirr on SVB when they announced a capital raise: "The bank is fine, there's no bank run"