Monthly Archives: March 2023

What happened to Swiss Banks?

Posted on March 16, 2023 by Danielle Park

Good big picture in this segment. A global clampdown on tax evasion, led by U.S. law authorities, has transformed the banking industry in Switzerland. Without its famed reputation for secrecy, wealthy foreigners no longer see it as a haven to … Continue reading →

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Cash crunch intensifies

Posted on March 15, 2023 by Danielle Park

This morning, stock and commodity markets are plunging amid news of escalating stress at systemically significant investment bank Credit Suisse. The bank’s share price is -24% this morning and -96% since its cycle peak in 2007. Years of destructive financial … Continue reading →

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Moody’s downgrades US banking system outlook to negative

Posted on March 14, 2023 by Danielle Park

Moody’s just announced a downgrade of its outlook on the entire US banking system to negative from stable to reflect “the rapid deterioration in the operating environment following deposit runs at Silicon Valley Bank (SVB), Silvergate Bank, and Signature Bank … Continue reading →

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