Wednesday, February 20, 2008

Credit Suisse Undoes the Good Work

--the discovery of significant losses on trading positions shatters Credit Suisses carefully reconstructed reputation for risk management --market-downs $2.85 bil, a serious dent in Q108 earnings, $1 billion on net profit --this appears to be an isolated problem but news taht the internal review is continuing raises the possibility that futhre losses could be found. --subordinate debt will be repriced at 237.5 + T from 212.5 + T

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