Another $126 Billion Flows Out Of US Banks
During the week ending March 22nd, Federal Reserve data showed depositors pulled another $126 billion out of US banks. The outflows also shifted institution classes, this time being withdrawn from…
Credit Suisse Accused Of Helping Rich Americans Avoid Taxes In Violation Of Plea Deal
On Wednesday, the US Senate Finance Committee accused Swiss bank Credit Suisse of complicity in an ongoing conspiracy to aid wealthy Americans to evade taxes, despite an earlier promise to…
In Paris, Major Bank Offices Raided Over Tax-Scam, Money-Laundering
Several media outlets are reporting that in Paris, the offices of five major banks were searched Tuesday as part of an investigation into suspected money laundering and tax evasion in…
ANZ Head Warns Banking Crisis Could Trigger Global Meltdown
On Monday, the head of the Australia and New Zealand Banking Group (ANZ), Shane Elliot, warned that the problems various banks in the US and Europe are facing have the…
After Credit Suisse Comment, Chief Of SNB Resigns
On Monday, the Saudi National Bank (SNB) announced that its chairman, Ammar Al Khudairy, has left his position. The resignation of the former head of Saudi Arabia’s largest lender, said…
Credit Suisse Rescue To Cost Every Swiss Citizen $13,500
According to a new analysis by Bloomberg, the Swiss government’s rescue of the failing Credit Suisse investment bank could prove to be quite costly to the nation’s taxpayers, who will…
Citi Tells Customers China A Safe Haven Amid Banking Crisis
CNBC is reporting that economists at Citi have said in a note to clients that the unfolding banking crisis in the US and Europe, which shattered the confidence of investors…
Biden Says US Banks Are Doing Fine
On Friday President Joe Biden attempted to assuage the fears of investors, assuring the nation that the American banking sector is not going to explode, adding however that it will…
European Banking Stocks Plunge As Credit Default Swaps Surge
On Friday, shares of European banking titans plunged, as Deutsche Bank fell 13%, and UBS Group dropped 6%, following investors noting a sharp increase in credit default swaps being recorded…
Bill Ackman Says US Banks At Precipice As Fed Raises Rates And Treasury Refuses To Guarantee Deposits
Billionaire investor Bill Ackman is warning that the US economy is at the precipice of disaster after the Federal Reserve chose to increase interest rates yet again, while the Treasury…
