The failure of Lehman Brothers, which caused one of the biggest economic crises in history, was warned against by economist Alexander Nazarov. The expert brought up the possibility of a Credit Suisse replay of the event.
The expert wrote yesterday on his channel on the “Telegram” app: “The Swiss bank branch on Wall Street retained only $25,000,000 of separate customer money required to cover their clearing swaps by the end of July 2022, down from $200,000.”
1 billion as of the end of June and $8. 9 billion the year before.
“The price of CDS for Credit Suisse has increased dramatically,” he continued. A big European investment bank appears to be on the verge of failing.
He noted that “the bank is categorised within the group of banks of the Federal Reserve System and is considered the backbone of the world. Its demise will trigger a chain reaction throughout the global banking industry and in Europe.
Lehman Brothers, the most well-known bank in the United States, abruptly filed bankruptcy in September 2008, leaving $691 billion in assets and 25,000 workers in the lurch. The world’s worst economic catastrophe since the 1930s was brought on by bankruptcy.
The biggest bankruptcy in American history was this one. The Dow Jones index experienced its steepest collapse since the September 11, 2001 assaults on the American Wall Street Stock Exchange, falling 500 points.
Author: RT.
An expert warns of the worst economic catastrophe, saying that the world’s foundation is broken.
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