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Strategies & Market Trends : The Financial Collapse of 2001 Unwinding
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To: E_K_S who wrote (10606)3/15/2023 11:56:56 AM
From: elmatador1 Recommendation

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E_K_S

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(Credit Suisse) has suffered setback after setback since March 2021 and the bankruptcy of Greensill Capital, a specialized lender with links to former U.K. Prime Minister David Cameron.

The British company, which was founded in 2011 by the financier Lex Greensill, was a supply chain and accounts receivables lender, that specializes in lending money to companies so that they can pay their suppliers. It then packaging the debts of these companies into financial securities, which it resold to investors.

The house of cards began to crumble when these investors, including Credit Suisse, had doubts about the real value of the debts and abandoned Greensill, which then filed for bankruptcy in March 2021.

https://www.thestreet.com/investing/credit-suisse-does-not-want-to-talk-about-government-bailout
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