Headline from 2017 which is relevant again today: Credit Suisse under investigation. Again. For money laundering. Again.
With Credit Suisse expected to get swallowed up into UBS today and thus disappear as an independent entity, I thought it would be a fine time to reprint this article which describes the bank’s legacy.
Pay particular attention to comments at then of the post – – Credit Suisse has a subsidiary whose sole purpose in life is to launder money for clients. They have been laundering money since 1910. Yes, 1910.
(This discussion is cross-posted from my other blog, Attestation Update, because the flagrantly immoral behavior by a major international bank is an attack on the economic freedom of all. As a second order effect, this appallingly bad behavior, which has been an ongoing practice of Credit Suisse for over a hundred years, is a convenient excuse for national regulators in the U.S. and around the world to strip away more of our freedoms.)
Previously posted at Attestation Update on 2/24/17:
Looks like Credit Suisse is in trouble again. The feds and NYDFS have opened another money laundering investigation.
Check out the report on 2/23/17 at Wall Street Journal – Credit Suisse Probe Opens Old Wounds for the following info.(more…)