⭐ Merited by vapourminer (1)
2) There are growing rumors of a major European bank going banrupt. Two are the main candidates:
Credit Suisse Is in Deep Trouble
"The No. 2 Swiss bank and one of the largest banks in the world is in deep trouble and is currently fighting for its survival. A negative outcome is likely to cause a shock similar to that caused by the bankruptcy of the U.S. bank Lehman Brothers in September 2008. This event triggered one of the most serious financial and economic crises since the Great Depression."
'Trading Like a Lehman Moment’ — Credit Suisse, Deutsche Bank Suffer From Distressed Valuations as the Banks’ Credit Default Insurance Nears 2008 Levels
I also saw this news today, it is flooding on twitter as well as other social networks. Although this is just a rumor and there is no further information yet, if this happens, it will be the most terrible thing in the history of world economics and financials. During the 2007 crisis, the bankruptcy of Lehman Brothers led to a domino effect of mass bankruptcies in the financial industry and at that time Lehman Brothers was valued at 600 billion. Currently, the valuation of Credit Suisse and Deutsche Bank is estimated at 2800 billion, 4.6 times higher than Lehman Brothers. If both go bankrupt, then it can be said that nothing will be worse for the current economy.
