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Was waiting for someone to post this explainer but nobody did so here's it:
https://www.straitstimes.com/business/cr...went-wrong
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Nothing is wrong. Sg banks all smiley reporting record profits super pay rise.
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(16-03-2023, 03:46 PM)red3 Wrote: Nothing is wrong. Sg banks all smiley reporting record profits super pay rise.
Credit Suisse's problems had been going on for some time. Since 2008, they have been fined billions and was investigated multiple times.
Those stuff are not related to Sg banks.
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Same as SV bank. Loan out big with low rates. Interest rates rise, and they cannot pay out lor. Now, they wish to take back or clear those---floating rates that they cannot pay.
(This post was last modified: 16-03-2023, 03:56 PM by
theold.)
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