TUESDAY FEBRUARY 19
Problems? Blame The Traders

Hey, if SocGen can do it, why can’t Credit Suisse? Just as we catch wind that U.S. banks have quietly borrowed $50 billion from the Fed in recent weeks, we hear CS has a revelation of its own to share: on the heels of better-than-expected earnings, it seems that the bank’s traders aren’t so good with numbers. Specifically, when it comes to valuing certain asset-backed securities. Which may not be so good for first-quarter earnings.

February 2008

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