Bank Fears Go Global

Wall Street is in trouble, Credit Suisse, is in trouble. The banking collapse that started last Friday is continuing today and heading to international banks. Credit Suisse, lost 20% overnight and received notification from its largest shareholder, that they cannot continue to financially support the bank. Thus, leading to very murky waters over the next few days. Only time will tell if the Bank can survive. In the US, Moody downgraded the entire banking system to negative as of yesterday.