Credit Suisse: the Enemy Within: There is little more than a month to go until the strategy update on 27 October and there are already many questions. Among them are whether the details will remain confidential – and if the… creditsuisse investorupdate
There is little more than a month to go until the strategy update on 27 October and there are already many questions. Among them are whether the details will remain confidential – and if the bank realizes its only viable future lies in becoming entirely Swiss.
Almost everyone knows that it has deep problems. The only question is how it can get out of the current debacle.Until now, there haven't been any indications that it will be able to stage any kind of recovery in the medium term. On the 27th, it wants to present a new strategy. But it is a long time until then. Rumors and speculation are rife and although many of them have some entertainment value, they are also incredibly damaging. Just look at the share price.
At the outset, the bank thought it could keep itself out of trouble by not commenting on all the speculation. Now it must realize that it is impossible. That must be why it took the sudden step of clearly denying it was exiting the US market, even if doing so was against its principles.The predator has become prey, and now it has no choice but to react to external pressure.