Market strategist Greg Foss has predicted that Credit Suisse will be the next major bank to collapse, citing capital trouble and a run on the bank. The Swiss banking giant has also identified “material weaknesses” in its financial reporting controls. Its shares plunged on Wednesday after the bank failed to raise capital from its largest investor.
Credit Suisse Next to Fall, Says Strategist
Market strategist Greg Foss warned about the impending collapse of Swiss banking giant Credit Suisse on the Coin Stories podcast, published Tuesday. His warning followed the collapses of several major U.S. banks, including Silicon Valley Bank and Signature Bank.
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Foss is currently executive director at Validus Power Corp. He was a founding shareholder of 3iQ Corp. and previously held the role of
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