Credit Suisse Bank is facing huge losses due to its handling of risky assets. Is laying off staff, shares prices decline. Bad banking decision. And the contagion could spread in Europe It is hobbled by its involved in bankrupt Greensil and British financier Greensil (also linked to another Indian billionaire)
Banks worldwide are undercapitalized and could wobble There were posts that some banks could go under with estimates that worldwide the capital is a little only $100B with high estimates of $1.7 trillion. mainly due to the revaluation of asset quality. These are uncertain times Even venerable banks are not exempt from the crisis and instability
For banks in US, due to covid and inflation, the $2 trillion or so savings of Americans could evaporate as citizens cope up with inflation (diminished spending power) and liquidity in banks could evaporate
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