(Thread IKs:
skooma512)
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It was 38% this morning lol
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Mar 15, 2023 18:56
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| # ? May 25, 2024 01:27 |
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Justin Tyme posted:lmao if the chatgpt prediction for the 15th turns out to be (inadvertently and ironically) accurate due to dumb luck, but lol if I don't hoot n hollar for future predictions based off this I almost want it to be right because I feel like this would cause tiktok brained people to start some kind of doomsday AI cult
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Mar 15, 2023 18:56
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I love our big strong financial system that threatens to collapse and die every time someone looks at it
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Mar 15, 2023 18:56
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Eric Cantonese posted:Depends on who is holding derivatives related to the status of Credit Suisse. If you sold a bunch of credit default swap to someone else obligating you to pay up if CS defaults… Okay, I think I get it. Some US banks may have taken some money on a sure bet that CS could never possibly fail. And if CS does fail, they are obligated to pay out a bunch of money (that they may or may not have easy access to). Now that the roulette wheel is starting to look like it might come up green, everyone is getting a little jumpy.
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Mar 15, 2023 18:57
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Nothus posted:It's happening (again) https://www.youtube.com/watch?v=pWa0dZMHYeE
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Mar 15, 2023 18:57
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We should give banks more money and starve people more, it's working good
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Mar 15, 2023 18:58
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Libya lost some uranium I guess?? Throw it onto the pile.quote:https://twitter.com/FirstSquawk/status/1636061772799983617
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Mar 15, 2023 18:58
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Paradoxish posted:So just to clarify, there's still no detailed information on the "material weaknesses" CS reported, right? Everything that's happening right now is essentially self-reinforcing panic that this might be the big one? they filed it in their form 20-F for fiscal year 2022 as of yesterday. It’s a publicly available SEC filing akin to a 10-k in the US As a CPA it looks like they materially hosed up review of classifications for their cash flows statement and the auditors caught it, but it should have been caught by a management control so bing bing material weakness Bad but not all that interesting really, and not really a weakness in their deposit management process
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Mar 15, 2023 18:58
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Failson posted:Okay, got it, and Credit Suisse is the old money war crime bank. a swiss bank? wonder what they were up to in the 1940s
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Mar 15, 2023 18:58
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“Here is the thing about the future. Every time you look at it, it changes, because you looked at it, and that changes everything else.” - Nicolas Cage, as Cris Johnson, in Next (2007)
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Mar 15, 2023 18:58
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Koirhor posted:so I’ve finally caught up on the thread first of all lol Switzerland doesn’t need a bailout, it’s an incredibly rich and high taxed country. There is insane wealth there and they have incredibly wealthy landlords too. It’s like a bubble in Europe.
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Mar 15, 2023 18:58
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shrike82 posted:(USER WAS PUT ON PROBATION FOR THIS POST) Thorn Wishes Talon posted:(USER WAS PUT ON PROBATION FOR THIS POST) is the joke that you can't tell them apart or is thorn really a shrike alt
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Mar 15, 2023 18:58
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too much woke capitalism. we need good capitalism again imo just get rid of all the green-haired Stanford weirdos, bring back Trump and we'll be ok
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Mar 15, 2023 18:58
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Make capitalism slur again
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Mar 15, 2023 19:00
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here you can just pull the latest 20-f off their website: https://www.credit-suisse.com/about-us/en/investor-relations/financial-regulatory-disclosures/sec-filings.html ctrl f material weakness and read all about it
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Mar 15, 2023 19:00
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Only a suisse deals in absolutes
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Mar 15, 2023 19:00
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the entire bank is a material weakness op
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Mar 15, 2023 19:00
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quote:“Management did not design and maintain an effective risk assessment process to identify and analyse the risk of material misstatements in its financial statements,” Credit Suisse said in its report.
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Mar 15, 2023 19:00
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Orvin posted:I get that banks are all to some level interconnected, but what is the risk from Credit Suisse to the US and it’s banks? Just the fact that some US rich people have money there and will be grumpy it failed and they might have to wait a couple of days to fondle their 1s and 0s the reflect their off shore money? well it is a g-sib bank, a global systematically important bank, which supposedly means its failure would trigger a worldwide financial crisis
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Mar 15, 2023 19:01
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Paradoxish posted:So just to clarify, there's still no detailed information on the "material weaknesses" CS reported, right? Everything that's happening right now is essentially self-reinforcing panic that this might be the big one? the saudis, who are big investor in cs, said gently caress off we won't give you any more money
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Mar 15, 2023 19:02
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Mokelumne Trekka posted:too much woke capitalism. we need good capitalism again imo woke capitalism vs. based capitalism —— that's the dialectic
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Mar 15, 2023 19:03
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I wonder if management knowing it was TBTF lead to bad practices which increased the risk the bank would fail. huh
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Mar 15, 2023 19:03
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on one hand it's pretty lmao that chatgpt shat out an accurate prediction on the other hand banzingas are going to be even more insufferable now
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Mar 15, 2023 19:04
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spacemang_spliff posted:on one hand it's pretty lmao that chatgpt shat out an accurate prediction on the other hand banzingas are going to be even more insufferable now I want to point out the minor detail that the ChatGPT prediction for the crash today on March 15th was made last month on 2/16. So that's quite a gap of time, they didn't just randomly ask it yesterday if the market would crash the next day.
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Mar 15, 2023 19:05
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Raskolnikov38 posted:is the joke that you can't tell them apart or is thorn really a shrike alt The first
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Mar 15, 2023 19:05
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Credit Suisse has been dying for a month (years, really), I'm not about to give the lovely chatbot any credit for "predicting" this
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Mar 15, 2023 19:06
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Nothus posted:Credit Suisse has been dying for a month (years, really), I'm not about to give the lovely chatbot any credit for "predicting" this Cope & seethe.
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Mar 15, 2023 19:06
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they got too big to be too big to fail
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Mar 15, 2023 19:06
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Mokelumne Trekka posted:too much woke capitalism. we need good capitalism again imo
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Mar 15, 2023 19:07
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holefoods posted:I almost want it to be right because I feel like this would cause tiktok brained people to start some kind of doomsday AI cult That's the death spiral we deserve
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Mar 15, 2023 19:07
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Subvisual Haze posted:The more old and WASPy your bank's CEO and board appear, the safer your money.  wells fargo will be fine everyone
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Mar 15, 2023 19:08
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Thorn Wishes Talon posted:how dare you say this in a thread dedicated to doomers and doomerism 
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Mar 15, 2023 19:09
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Credit Suisse and desist
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Mar 15, 2023 19:09
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lmao wonder who the counterparties are on those
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Mar 15, 2023 19:09
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Excuse me, what? https://twitter.com/DeItaone/status/1636067486121467904 Wasn't the banking crisis contained with the unprecedented solvency bailout?
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Mar 15, 2023 19:13
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SKULL.GIF posted:Excuse me, what? lol
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Mar 15, 2023 19:14
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so is this a crash or a soft collapse
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Mar 15, 2023 19:14
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Once again the liberals lied
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Mar 15, 2023 19:14
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may you live in interest-rate times
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Mar 15, 2023 19:14
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| # ? May 25, 2024 01:27 |
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Good Soldier Svejk posted:so is this a crash or a soft collapse Soft landing
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Mar 15, 2023 19:14
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