Originally published at: Jake Johnson: This Is Scary; Financial Industry Panic Spreads as Credit Suisse Teeters – Progressive Dreamers
Published originally at Common Dreams on March 15, 2023 under Creative Commons CC BY-NC-ND 3.0 license A vanishingly short period of relief in U.S. and global markets was shattered Wednesday after the scandal-plagued Swiss banking giant Credit Suisse announced that its auditor identified “material weakness” in its financial reporting and the firm’s largest investor—the Saudi National Bank—said it wouldn’t…