‘Member when Credit Suisse had [$20B of exposure](https://www.wsj.com/articles/inside-credit-suisses-5-5-billion-breakdown-archegos-11623072713) to Bill Hwang and Archegos with 10x leverage? I ‘member. They belong here: truly the re/tards of the investment banking world.
Keep that in mind when they ask for their bailout 🙂
According to WSJ:
“Credit Suisse amassed more than $20 billion of exposure to investments related to Archegos, equivalent to half the bank’s equity cushion against potential losses, The Wall Street Journal has previously reported. Yet the bank at one point made Archegos hold just a 10th of that amount to back up its bets and protect the bank in case its investments soured, according to a person familiar with the matter.
The collapse of Archegos, piled on top of the insolvency of another key Credit Suisse client, Greensill Capital, has plunged the bank into crisis. Credit Suisse took a $5.5 billion loss on Archegos, the largest related to that firm’s collapse on Wall Street.”
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This seems reguarded to us, but id bet my left nut (the bad one) there’s a lot more firms out there this weekend going. “Fuk. We are setup just like these guys. Hope our “Hwang” is good for it.”
Hwang
Bill and what they did, absolutely legendary…there will be books written about them
If only we could have a video of their Hwang position as it imploded, with live reactions from the account managers. Y am i getting so excited and hard?
CS Losing $20 billion to 1 man is the same as RH losing $2000 to 1,000,000 Robinhood Users. It’s actually cheaper because RH had to do marketing to acquire those customers and try to service and collect on each account.
I don’t blame them. If you’re not leveraged, are you really even investing?
Bonus points if you’re leveraged in crypto.
That adrenaline rush is how you know you’re about to win massive profits.
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They should just Hwang up when they get a margin call
I member