The New Exchange » Credit Suisse to cut up to 6,500 jobs reporting $2.4 billion loss

tennyson · 2/14/2017 10:49 am

The majority of this came from what the Justice Department announced in January that Credit Suisse would pay a total of $5.3 billion to settle claims that it packaged and sold toxic mortgages between 2005 and 2007.

There have been a number of DOJ fines totalling $60 Billion over the last couple of years.
http://money.cnn.com/2016/12/23/investing/banks-fines-mortgages/index.html

I wonder in the current Administration and its relaxing of the Dodd-Frank and its cozy relationships with the banks IF these settlements would have come about. An even BIGGER QUESTION is IF we are opening ourselves up for another round of bank problems (and resulting settlements later) ???

http://money.cnn.com/2017/02/14/investing/credit-suisse-loss-job-cuts/index.html

tennyson · 2/14/2017 2:43 pm

And just like that, President Trump signs his first actual bill (H.J. Res. 41) that weakens the Dodd-Frank law that help protect us from further financial mishaps!

Just the first step aimed at dismantaling Dodd-Frank financial reform.

Last edited by tennyson (2/14/2017 2:51 pm)

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2/14/2017 10:49 am #1

Credit Suisse to cut up to 6,500 jobs reporting $2.4 billion loss

2/14/2017 2:43 pm #2

Re: Credit Suisse to cut up to 6,500 jobs reporting $2.4 billion loss

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