Credit Suisse shares fall to all-time low as bank announces it has found ‘material weakness’ – just hours after Wall Street expert predicted that it would be the next to fall after SVB
Credit Suisse shares fall to all-time low as bank announces it has found ‘material weakness’ – just hours after Wall Street expert predicted that it would be the next to fall after SVB
- Robert Kiyosaki claimed yesterday that Credit Suisse would be ‘next’ to fold
- Kiyosaki is a metals investor who predicted the 2008 Lehman Bros crash
- Today, Credit Suisse reported an $8billion loss in 2022 and ‘material weakness’
By CLAUDIA AORAHA and JEN SMITH, CHIEF REPORTER FOR DAILYMAIL.COM
PUBLISHED: 02:00 EDT, 14 March 2023 | UPDATED: 09:12 EDT, 14 March 2023
712shares
Credit Suisse shares fell five percent to an all-time low in early trading on Tuesday after the bank confirmed material weaknesses and an $8billion loss in 2022, just hours after a financial expert claimed it would be the next institution to fall following SVB.
Last night, Robert Kiyosaki – a metals investor and author of Rich Dad, Poor Dad who accurately predicted the 2008 fall of Lehman Brothers – warned during an appearance on Fox Business, that ‘the problem’ is the bond market, and that Credit Suisse – the eighth largest investment bank in the world- was most vulnerable.
‘My prediction, I called Lehman Brothers years ago, and I think the next bank to go is Credit Suisse because the bond market is crashing. The bond market is much bigger than the stock market. The Fed is up and they’re the firemen and the arson,’ he said.
