Banking Crisis Looms as Credit Suisse Faces Collapse, Warns Strategist.
Market strategist Greg Foss has warned that Credit Suisse is the next major bank to collapse, citing capital trouble and a run on the bank. The Swiss banking giant has also identified “material weaknesses” in its financial reporting controls. Its shares plunged on Wednesday after the bank failed to raise capital from its largest investor. Credit Suisse is one of the 30 banks identified by the Financial Stability Board (FSB) as global systemically important banks (G-SIBs).