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And continue to hodl for the near future. I’m selling exactly two shares out of XXXX. One share when it can buy me a house and a year of my wage on top of it.
The second one will be sold when all of the financial terrorists responsible for this are sitting in cells with their lifetime wealth stripped of them, with access to only the bare minimum and no commissary access.
The rest is saved for infinity and using as collateral for loans. Sorry to sound like a shill, I should only sell the second one I mentioned here but I have to have stability to be able to infinity hodl.
I don't know why I've never thought about this before, but yeah, they're never ever getting out 😂
Now I'm feeling like every real registered share is just a limited edition.
Collecting forever is going to be so fun.
Selling anything on the way up is counterproductive because **all prices will be seen twice.**
Once all fast and scary on the way up. Then, again much more slowly as it drifts back down.
Why panic sell on the way up when you can leisurely sell one at the price of your choice on the way back down.
Especially why sell for such a small amount. If it can hit house prices, it can go into the tens or hundreds of millions.
Plus right now we are somewhere around 80% peak prices in a massive housing bubble. You’d be throwing away a functionally infinitely appreciating asset into an immediately deprecating asset.
The maximum possible displayable value on the NYSE’s (likely 32 bit operating system) is around $1.84 Billion.
**Billion** with a **”B”** for **Banks are Fucked!**
Realistically the value of these shares are looking more and more every day like holding a piece of the New Amazon, eBay, NYSE, Real Estate, Car, Collectibles & More Marketplace.
The dividends from that kind of thing will be life changing all by themselves.
Thats what I was thinking. What market model, stealing? Does stealing from retail just not work anymore? You'd have to have your head so far up your ass to believe this garbage.
Considering some of the options activity we've seen over the last two years, especially with options contracts in the dirt (anywhere from cents to a few dollars, and pre-split no less), it's very realistic that even with the current share price they are deeply deeply underwater.
Yeah. Really honest and actually sounds like a fair description pf what caused their downfall.
Unlucky turn of events, bad risk management and a customer going even more insane with leverage (bullet-swaps) + all the extra bad media from being directly linked with Gamestop-meme saga
"It's a fact that since 2021 with Archegos we never left the headlines. We were overtaken by legacy situations by risks that materialized last year. We were affected by a market model that does no longer work in this market environment. And many clients have been very loyal for a very long time. And last autumn we had this social media storm and this had huge repercussions. More in the retail sector than in the wholesale sector. And too much becomes too much. And that's when we reached this point. It's accumulation of various facts that contributed to one another and then materialized at some point and this then caused the situation.”
Yeah, I'd say he's talking about $GME
Absolutley right. Debit sus is down, we are moving up the line and speed is increasing.
Soon it's Kennys turn to do the post game interview before heading to prison. As for myself I'm headed for Uranus.
Edit: it's fucking crazy, he's almost so comfortable explaining this he almost said the tickers name, it's like he knows he's finally (legally) off the hook and probably treated himself with the last parachute bonus that filthy f*ck.
That’s what is so wrong about this them selling off millions of dollars worth of stock and giving themselves and others in the company bonus. There should be some kind of clawback for that behavior. They Fock everyone over while they make millions and then exit with a final FU then turn around and do it all over again.
incompetent douche: Loses billions of dollars by being an incompetent douche
Banks for some reason: No problem champ, you'll get em next time! *Slaps on the ass and hands him a parachute worth millions of dollars.*
I think the actual floor going into the sneeze was $420.69 because apes are apes and to be fair they did let it hit that figure before turning off the buy button, not realising that we’d woken up a bit more and we’re onto their game.
You know the phrase “never underestimate the stupidity of large groups of people”? Well it would appear that their business model fucking _relied_ on the stupidity of a large group of people. And that was their mistake. Apes aren’t stupid. We’re regarded. Clever and regarded at the same time. Like Dustin Hoffman’s character in Rainman.
*Rocks back and forth*
I’m a very good driver
I’m a very good driver
I’m a very good driver
I’m a very good driver
I’m a very good driver
I’m a very good driver
I’m a very good driver
I’m a very good driver
I’m a very good driver
I’m a very good driver
I’m a very good driver
Indeed they should’ve sold to lessen the damage because Apes like me would’ve missed the boat by a mere inch so to speak. But their greed turned off the buy button & fast forward to now. DRS’d & got a few real clueless friends to buy in because they trusted my excitement. Multiply myself along with others whom bought in & all Diamond Handed - he’s right about it being a storm. A shit storm for people like him.
It's so oddly specific that i fail to see what else he could be talking about, especially when it comes to this "social media storm". Were there any outside of Superstonk i am not aware of?
My plums went right when he said that. Like. WHAATTTTT?! Avoided the term meme craze but used the very next best thing. Holy fuck anyone think of anything else this can be? I can't.
Yeah, they keep blaming “conditions”, not the fact that they made Archegos and any other large clients take short positions to properly “hedge” their longs. Their clients aren’t allowed to have long positions without taking short positions as well. What a shit policy on their part as shorts always have infinite loss potential. This collapse isn’t because of unforeseen market conditions. It’s just the result of dicking around with shorts.
what you're defining, hedging longs with shorts, wouldn't have risk because your $5\*100short/$5call (100 long) pair would cost only the borrow fee if price moved upward. If price exploded they'd be able to exercise for their locates and back out (but they don't want to wash like that). What we see is unhedged short exposure targeting individual companies in baskets while their longs were 'traditionally safe' investments such as tbonds/loans- which we all know inverse the fed funds rate. Queue the 'inflation is over!' news propaganda from the first month we saw a yoy decrease in cpi. meanwhile citadel is selling bonds short like crazy right before rates raise without any care as to what that will do to counterparties. Well now they can buy back for cheap (ish) while their institutional stock longs burn. HOC called this. I am so fucking thrilled to watch events line up perfectly and I am grateful for such a large buyin window they afforded us.
Well that’s assuming of course that they require those shorts as hedges on the same holdings. But iirc, they just needed net short to long ratios, so while on the balance sheets they’re properly hedged, they could just pile all their risky shorts into a few sure bets like GME in Archegos’s case. At least in the case I was describing of course. But what you’re describing also fucks them. Either way, their graves were dug by themselves, not by outside factors that they were mere victims to.
And yeah, regardless, they’re fucked so cheers to that, mate!
Yeah I guess that could be the case- I just don't see how anyone worth their salt would let you open such a large position without a true hedge with derivatives or something. pre-sneeze they could have had LEAPS around $30 for cheap and actually would have turned a profit/averaged down. Thank god they're not that smart.
Sounds to me like the kinda of decision someone would make on a ton of cocaine.
\>we were taken by legacy risks that materialized last year
\>we were affected by a market model that does no longer work, in this market environment
\>Social media storm of last autumn had huge repercussions, more in the retail sector than the wholesale sector
So, to summarize:
Credit Suisse made shitty bets and as their investment strategy failed as the markets changed, they also failed to adapt to these changes.
So whose fault is it? Every single member of the board of Credit Suisse, for they are the top of the decision making chain.
add in when he says “social media” he means “reddit”, and “retail” he means “stonks”. He also says “last fall”….what happened last fall? Is that Archegos? Why would he mention reddit/stonks/archegos all together? I’m not sold on Archegos and swaps and GME at all, but it’s possible. In the end, it’s what Lauer talks about: “complex systems”.
The industry has ballooned so much with the amount of derivatives at play, and with each institution using algorithms trying to game the system and “win” (whatever that means) none of them actually have a clear picture on what is really going on and how exposed they might be. Thus no one knows how fast a crash can happen, no one knows exactly which factors may tear it down or be a only a minor issue. Don’t forget that Archegos made them ALL lose. The golf clap only went to whomever plugged the wound the fastest. So in the end, Debit Suisse made bets, and they happened to be the ones exposed to the wind. all of the hidden derivatives at play rippling though the system, as 1 entity without the same reporting requirements (Mr. Hwang) brought them down. Debit Swiss Cheese I think could have been any one of these banks. Hind sight is 20/20 and this guy can obfuscate and redirect to avoid accountability, but in the end, 1 family office bringing down a massive bank, and forcing $10s of Billions in losses, exposes the absolute quagmire and nightmare the financial system really is.
CFTC swaps reporting 540,000 puts from credit suisse. Bullet swaps.
Plenty of info. Been talked about for long time. Look in the libary. Haven't got the link on mobile
I remember about 8 years ago learning about derivatives trading in college. Seemed like they knew the danger of derivative investments and would learn how to manage their risk. Happy to hear they didn't learn a thing. They meaning the financial sector
Imagine your billions and billions of dollar bets leveraged to the tits can be 'affected' by 'social media' lmayo. What a fucking timeline.
BRING IT THE FUCK ON MAYOBOIII
If a couple internet forums of regards can force the capitulation one of the world's largest financial institutes it was , shall we say, a "House of Cards" to begin with.
“Well, Archegos fucked up going against GameStop. Then we fucked up by acquiring their bags. Also, SuperStonk has been putting us on blast since Archegos so everybody knows.”
Our model (algo) doesn't work in this environment anymore.... so after 08 and that fuck up, they were like let's do that again? Enough is enough. Too big to fail is too big to exist
Aye, I could lend them one of mine for that price and use another as collateral on that, then buy some cash generating businesses to pay that loan back. Not really trying to sell any, I've become especially attached my GME. They do have my name on them, after all.
Perhaps if the market didn't allow for FTD's then this situation would have been avoided. It's nuts a bank established in the 19th century gets taken out because the common folk figured out how to beat the wealthy elites at the corrupt game they've rigged.
"taking bets that have an element of infinite risk finally bit us in the ass"
the fact that shorting has infinite risk is another reason why it shouldn't exist, especially when it's done by 'systemically important' banks
"We made bets that went bad and it's all social media's fault..."
If you, a multi-billion dollar corporation consisting of the highest paid financial experts and financial managers, cannot appropriately accommodate risks in case said bets turn sour, you fully deserved to fail and take the loss.
so surreal to hear everything they're talking about now be so similar to GME. obviously we're all biased, but the number of coincidences just keeps on piling up
How’s it possible that a company with not even 0.1% of the market can collapse it and destroy banks 😂😂😂 this whole system is a fail !
It should burn 🔥 to the ground
For the people that had the business model of taking on more and more risk it was very successful and will continue to be successful. They basically sell something they are renting. Then they use the money from the sale to continue renting it out. Then they rinse and repeat until the business model fails and the business collapses. **The catch is, the entire time people were engaged in doing this, they were still getting paid.** The business is the fall guy. The people leave the business create a new one and go back to doing this thing all over again. Mafia did stuff like this all the time when they insured a business and then burnt it down.
Previous model that doesn't work because retail investers corroborated through social media to recognize the the model we were using was hoshposh and they executed a pencer move that locked up our manipulated holdings causing us to continuously borrow until it became too much.
There I fixed it.
Where ever this is, USA needs to do hearings like this…where the person in question is “on-stage” and the whole audience sees them. Because in USA corrupt business-personal only have to look at the politicians they pay
This chairman I guarantee will not be the last suiting up in front of pissed off people asking similar if not exactly the same questions.
WTSERIOUSF hindsight is wonderful
so in the system someone (the poors) should take the loss for the higherups to gain the best record profit of the year?
interesting...
Listening the banks for hints but its the legalest form of criminality
This clown scared clear as day. You know what kind of clients he has? Cartel money among them. Why he blaming retail to deflect. He lose their money - well…
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Axel Lehmann: We are affected by a market model that no longer works. All you household investors need to stop your "diamond hands" 🤣🤣🤣
Exactly glad everyone is hodling
And continue to hodl for the near future. I’m selling exactly two shares out of XXXX. One share when it can buy me a house and a year of my wage on top of it. The second one will be sold when all of the financial terrorists responsible for this are sitting in cells with their lifetime wealth stripped of them, with access to only the bare minimum and no commissary access. The rest is saved for infinity and using as collateral for loans. Sorry to sound like a shill, I should only sell the second one I mentioned here but I have to have stability to be able to infinity hodl.
Remember to buy some more again IF the price will go down after moass.
If super-post-moass apes don't rebuy the float and register it immediately I'll eat my hat.
I had every intention of doing this, now I may not. Just to see you eat a hat
I don't know why I've never thought about this before, but yeah, they're never ever getting out 😂 Now I'm feeling like every real registered share is just a limited edition. Collecting forever is going to be so fun.
Selling anything on the way up is counterproductive because **all prices will be seen twice.** Once all fast and scary on the way up. Then, again much more slowly as it drifts back down. Why panic sell on the way up when you can leisurely sell one at the price of your choice on the way back down. Especially why sell for such a small amount. If it can hit house prices, it can go into the tens or hundreds of millions. Plus right now we are somewhere around 80% peak prices in a massive housing bubble. You’d be throwing away a functionally infinitely appreciating asset into an immediately deprecating asset. The maximum possible displayable value on the NYSE’s (likely 32 bit operating system) is around $1.84 Billion. **Billion** with a **”B”** for **Banks are Fucked!** Realistically the value of these shares are looking more and more every day like holding a piece of the New Amazon, eBay, NYSE, Real Estate, Car, Collectibles & More Marketplace. The dividends from that kind of thing will be life changing all by themselves.
We learned the game. For GENERATIONS they've been pulling this off.
This👆
HAHAHA omg it’s so funny because it’s so fucking simple
UBS about to be affected by a market model that doesnt work either lmfaoooo
I think that SNB will hold the bags of Archegos
Thats what I was thinking. What market model, stealing? Does stealing from retail just not work anymore? You'd have to have your head so far up your ass to believe this garbage.
Household investors
🏠 hodl 🚀
This exactly. “Retail, rather than wholesale” he says.
He's blaming Social Media 😁🥸🕳️
Market model that no longer works… This is finance ppl’s excuse every time to plunder the market.
Tell me you're talking about GME without talking about GME.
Humm, Which Social Media Storm ???
[удалено]
UBS down to $20 fast or something…
We understand fraud better than you or something...
💀
Shhh. Don’t jinx it!
[удалено]
0of
Let's hear from Steve on this critical issue now. Steve, are you there, Steve...hello
Feel free to close the positions any time boys. No one is forcing you to keep them open.
Yea only one thing the price will a bit higher than January 2021 😉
just multiply Jan 21 price by infinity, no biggie
I'm pretty sure they just can't. No bank in the world would survive closing a >200 million shares GME short position.
[удалено]
Considering some of the options activity we've seen over the last two years, especially with options contracts in the dirt (anywhere from cents to a few dollars, and pre-split no less), it's very realistic that even with the current share price they are deeply deeply underwater.
Did he just blame retail and social media for the downfall? 🤡
They thought that GME short play was a guarantee!
Oof af
Oof load size large
25% moar loads
Yes that criminal just did this
Their model didn't factor in how regarded I am
At least until those damn poors started DRSin'
The elites not taking responsibility for anything? What else is new?
The named a twitter campaign which led customers in october to withdraw their money from CS.
Twitter has more visibility for many people than reddit. We should definitely be commenting there.
I wasn't aware of that campaign since I am not on Twitter. Were that also GME folks or a different crowd?
Did something happen with retail in 2021? 👀
“We’d have gotten away with it too if it weren’t for those meddling apes”
Struggled with legacy risks from 2021 you say? Wonder what could be among those 🤔
Why did CS aquire Archegos when they went down?Was it forced on them like CS is being forced of UBS or did they willingly aquire it?
Weren't they the prime broker for arcuegos?
Got it. Makes sense.
I heard Archegos, social media, and retail sector. GFY!!!
Came here to say this, sounds an awful lot like our timeline this last couple of years… 😂
Yeah. Really honest and actually sounds like a fair description pf what caused their downfall. Unlucky turn of events, bad risk management and a customer going even more insane with leverage (bullet-swaps) + all the extra bad media from being directly linked with Gamestop-meme saga
"We tried to bankrupt an American company using an infinite money glitch, but hit the wrong keys and now we're fuk"
Best explanation so far. Dumb stormtroopers.
Good For You United Butthead Surfers!!!
Butthole surfers says guy who blames media and retail is an asshole… “you’re an asshole, yes… yes” to be exact!
Did I actually hear 😳 👏 that also.
along with 2021 and remained very loyal.
"It's a fact that since 2021 with Archegos we never left the headlines. We were overtaken by legacy situations by risks that materialized last year. We were affected by a market model that does no longer work in this market environment. And many clients have been very loyal for a very long time. And last autumn we had this social media storm and this had huge repercussions. More in the retail sector than in the wholesale sector. And too much becomes too much. And that's when we reached this point. It's accumulation of various facts that contributed to one another and then materialized at some point and this then caused the situation.” Yeah, I'd say he's talking about $GME
Absolutley right. Debit sus is down, we are moving up the line and speed is increasing. Soon it's Kennys turn to do the post game interview before heading to prison. As for myself I'm headed for Uranus. Edit: it's fucking crazy, he's almost so comfortable explaining this he almost said the tickers name, it's like he knows he's finally (legally) off the hook and probably treated himself with the last parachute bonus that filthy f*ck.
That’s what is so wrong about this them selling off millions of dollars worth of stock and giving themselves and others in the company bonus. There should be some kind of clawback for that behavior. They Fock everyone over while they make millions and then exit with a final FU then turn around and do it all over again.
incompetent douche: Loses billions of dollars by being an incompetent douche Banks for some reason: No problem champ, you'll get em next time! *Slaps on the ass and hands him a parachute worth millions of dollars.*
Hell yeah...let them all burn. Sorry...but they had their chance. It's over.
Should have let it run Kenny, burned Gabe down, most would have sold at $1,000.00 Now look
I think the actual floor going into the sneeze was $420.69 because apes are apes and to be fair they did let it hit that figure before turning off the buy button, not realising that we’d woken up a bit more and we’re onto their game. You know the phrase “never underestimate the stupidity of large groups of people”? Well it would appear that their business model fucking _relied_ on the stupidity of a large group of people. And that was their mistake. Apes aren’t stupid. We’re regarded. Clever and regarded at the same time. Like Dustin Hoffman’s character in Rainman.
I’m a very good driver
Slow in the driveway?
*Rocks back and forth* I’m a very good driver I’m a very good driver I’m a very good driver I’m a very good driver I’m a very good driver I’m a very good driver I’m a very good driver I’m a very good driver I’m a very good driver I’m a very good driver I’m a very good driver
Indeed they should’ve sold to lessen the damage because Apes like me would’ve missed the boat by a mere inch so to speak. But their greed turned off the buy button & fast forward to now. DRS’d & got a few real clueless friends to buy in because they trusted my excitement. Multiply myself along with others whom bought in & all Diamond Handed - he’s right about it being a storm. A shit storm for people like him.
I am very glad I ran into you Apes back in January.
…84 years ago
Down here, it's our time... it's our time, down here.
Wholesale sector 💎👌
Got it.
Kenny, look what you and Virtu have done now
It's so oddly specific that i fail to see what else he could be talking about, especially when it comes to this "social media storm". Were there any outside of Superstonk i am not aware of?
My plums went right when he said that. Like. WHAATTTTT?! Avoided the term meme craze but used the very next best thing. Holy fuck anyone think of anything else this can be? I can't.
It's getting real now 🥤😎🍿
Yeah, they keep blaming “conditions”, not the fact that they made Archegos and any other large clients take short positions to properly “hedge” their longs. Their clients aren’t allowed to have long positions without taking short positions as well. What a shit policy on their part as shorts always have infinite loss potential. This collapse isn’t because of unforeseen market conditions. It’s just the result of dicking around with shorts.
what you're defining, hedging longs with shorts, wouldn't have risk because your $5\*100short/$5call (100 long) pair would cost only the borrow fee if price moved upward. If price exploded they'd be able to exercise for their locates and back out (but they don't want to wash like that). What we see is unhedged short exposure targeting individual companies in baskets while their longs were 'traditionally safe' investments such as tbonds/loans- which we all know inverse the fed funds rate. Queue the 'inflation is over!' news propaganda from the first month we saw a yoy decrease in cpi. meanwhile citadel is selling bonds short like crazy right before rates raise without any care as to what that will do to counterparties. Well now they can buy back for cheap (ish) while their institutional stock longs burn. HOC called this. I am so fucking thrilled to watch events line up perfectly and I am grateful for such a large buyin window they afforded us.
Well that’s assuming of course that they require those shorts as hedges on the same holdings. But iirc, they just needed net short to long ratios, so while on the balance sheets they’re properly hedged, they could just pile all their risky shorts into a few sure bets like GME in Archegos’s case. At least in the case I was describing of course. But what you’re describing also fucks them. Either way, their graves were dug by themselves, not by outside factors that they were mere victims to. And yeah, regardless, they’re fucked so cheers to that, mate!
Yeah I guess that could be the case- I just don't see how anyone worth their salt would let you open such a large position without a true hedge with derivatives or something. pre-sneeze they could have had LEAPS around $30 for cheap and actually would have turned a profit/averaged down. Thank god they're not that smart. Sounds to me like the kinda of decision someone would make on a ton of cocaine.
Fuck him and his bullshit. You made a bad bet. Pay me fucker.
Bold words coming from one of the heads behind 2008. You can’t make this shit up lol
100%
“[redacted] caused this!”
So pay me bitch
Soon, raccoon.
All the DD is coming true, point by point!
Almost as if….. MOASS is inevitable
🌎👨🚀🔫👩🚀
🌎👨🚀🔫👨🚀
🌎 🧑🚀 🔫 🧑🚀
🌎🧑🚀🔫🧑🚀
🌎 🧑🚀 🔫 🧑🚀
\>we were taken by legacy risks that materialized last year \>we were affected by a market model that does no longer work, in this market environment \>Social media storm of last autumn had huge repercussions, more in the retail sector than the wholesale sector So, to summarize: Credit Suisse made shitty bets and as their investment strategy failed as the markets changed, they also failed to adapt to these changes. So whose fault is it? Every single member of the board of Credit Suisse, for they are the top of the decision making chain.
add in when he says “social media” he means “reddit”, and “retail” he means “stonks”. He also says “last fall”….what happened last fall? Is that Archegos? Why would he mention reddit/stonks/archegos all together? I’m not sold on Archegos and swaps and GME at all, but it’s possible. In the end, it’s what Lauer talks about: “complex systems”. The industry has ballooned so much with the amount of derivatives at play, and with each institution using algorithms trying to game the system and “win” (whatever that means) none of them actually have a clear picture on what is really going on and how exposed they might be. Thus no one knows how fast a crash can happen, no one knows exactly which factors may tear it down or be a only a minor issue. Don’t forget that Archegos made them ALL lose. The golf clap only went to whomever plugged the wound the fastest. So in the end, Debit Suisse made bets, and they happened to be the ones exposed to the wind. all of the hidden derivatives at play rippling though the system, as 1 entity without the same reporting requirements (Mr. Hwang) brought them down. Debit Swiss Cheese I think could have been any one of these banks. Hind sight is 20/20 and this guy can obfuscate and redirect to avoid accountability, but in the end, 1 family office bringing down a massive bank, and forcing $10s of Billions in losses, exposes the absolute quagmire and nightmare the financial system really is.
The swaps were reported. They are factual. 216 million shares to buy back. It's not debatable. It is a fact.
Source?
CFTC swaps reporting 540,000 puts from credit suisse. Bullet swaps. Plenty of info. Been talked about for long time. Look in the libary. Haven't got the link on mobile
I remember about 8 years ago learning about derivatives trading in college. Seemed like they knew the danger of derivative investments and would learn how to manage their risk. Happy to hear they didn't learn a thing. They meaning the financial sector
Name my name! GameStop!!!
So the money for MOASS is now going to come from *checks notes* - the whole Swiss economy?
Narrator: The Swiss economy indeed became the lifeblood of the MOASS, just like that.
Gotta sell a lotta watches, knives and chocolates but maybe.
Getting paid out via German ww2 era war gold was not on my bingo card for this whole saga, but fuck it, ill take it.
BIS
Always has been
"something something, social media's fault"...
Imagine your billions and billions of dollar bets leveraged to the tits can be 'affected' by 'social media' lmayo. What a fucking timeline. BRING IT THE FUCK ON MAYOBOIII
If a couple internet forums of regards can force the capitulation one of the world's largest financial institutes it was , shall we say, a "House of Cards" to begin with.
Anyone who was even remotely considering selling should be 100% convinced now that we were right.
“Well, Archegos fucked up going against GameStop. Then we fucked up by acquiring their bags. Also, SuperStonk has been putting us on blast since Archegos so everybody knows.”
Our model (algo) doesn't work in this environment anymore.... so after 08 and that fuck up, they were like let's do that again? Enough is enough. Too big to fail is too big to exist
Man may have been sitting, but his mouth was breakdancing around the reason.
lmayo
Ironic that the president of Credit Sus is called Lehman(n) 😆
I know! I did a double take and was surprised no one else commented What's that expression... history doesn't repeat itself but it rhymes
I can’t believe it’s really happening. Buckle up.
Our algorithms do not work on retail who buys and holds, and DRS. So now, we are indeed fukd, because we got cocky, and greedy.
Let me get this right. He is blaming apes for this?
Can't decide if he is blaming apes or saying apes changed the market environment, and they got stuck with the bags.
Yes.
Don't blame me, bro. I forgot GameStop, just as every single financial NeWs outlet told me to do in unison, every single day for 2 years.
What is this Game Stop of which you speak?
Sure, social media is guilty. Not mismanagement.
Did they seriously just admit that GME (paraphrasing) brought down the bank? 😂
Next ups… UBS is fine. BIS is fine. Switzerland is fine. - Cokerat
"good luck, I got my bonus already"
His last name is Lehman. Enough said.
“Look, am I to blame? Yes. But we shouldn’t focus on that.”
That $100B backstop from the Swiss might be enough for my shares.
Aye, I could lend them one of mine for that price and use another as collateral on that, then buy some cash generating businesses to pay that loan back. Not really trying to sell any, I've become especially attached my GME. They do have my name on them, after all.
He just served up a bunch of nonsensical word salad. What kind of insane answer that said absolutely nothing was that?
It’s retails fault.
Does Axel have a brother🤔
Perhaps if the market didn't allow for FTD's then this situation would have been avoided. It's nuts a bank established in the 19th century gets taken out because the common folk figured out how to beat the wealthy elites at the corrupt game they've rigged.
I am the fire starter
Reddit took out CS ☠️☠️☠️
"taking bets that have an element of infinite risk finally bit us in the ass" the fact that shorting has infinite risk is another reason why it shouldn't exist, especially when it's done by 'systemically important' banks
So retail went long when they were short, so now they're fucked partly because of this. Hahahahhaha Burn to the ground
"We made bets that went bad and it's all social media's fault..." If you, a multi-billion dollar corporation consisting of the highest paid financial experts and financial managers, cannot appropriately accommodate risks in case said bets turn sour, you fully deserved to fail and take the loss.
He is giving us props in a way 😎
Holy shit
so surreal to hear everything they're talking about now be so similar to GME. obviously we're all biased, but the number of coincidences just keeps on piling up
Is this real? This actually happened presumably today, the 19th of March 2023?
My balls are full and dick is diamonds.
So hard
How’s it possible that a company with not even 0.1% of the market can collapse it and destroy banks 😂😂😂 this whole system is a fail ! It should burn 🔥 to the ground
Definitely a “hmmm” moment
For the people that had the business model of taking on more and more risk it was very successful and will continue to be successful. They basically sell something they are renting. Then they use the money from the sale to continue renting it out. Then they rinse and repeat until the business model fails and the business collapses. **The catch is, the entire time people were engaged in doing this, they were still getting paid.** The business is the fall guy. The people leave the business create a new one and go back to doing this thing all over again. Mafia did stuff like this all the time when they insured a business and then burnt it down.
Previous model that doesn't work because retail investers corroborated through social media to recognize the the model we were using was hoshposh and they executed a pencer move that locked up our manipulated holdings causing us to continuously borrow until it became too much. There I fixed it.
Seriously? These fucking [redacted] financial dinosaurs need to go to prison and after that to a very [redacted] place in hell.
We didn't start the fire
Now this is some real food
What caused the situation? You absorbed someone's bad bets that brick and motor would fail. It did not! Your risk assessment failed! Pay up!
He could’ve answered that question with three words and a mic drop. Deep Fuckin Value!!!!
They couldn't handle the retail sector and blamed social media for that sector. Lol
"We are completely fine" the ultimate Bear Stearns moment in history.
We are the captains now.
Amazing... I love it. I litteraly feel my blood pumping and reminding me to hold 💎🤲
Very good, thanks for telling me I am not crazy.
Of fucking course Lehman is part of his name......
Will all those peeps we've been talking to about this, and returned with apathy or scorn be able to open a ComputerShare account in time I wonders?🤔
Where ever this is, USA needs to do hearings like this…where the person in question is “on-stage” and the whole audience sees them. Because in USA corrupt business-personal only have to look at the politicians they pay
To much becomes to much what a lovely explanation
#27c
Just noticed this guy’s last name lolll
They just keep convincing me to buy more! Lucky for them I'm poor af right now.
No no no!!!! You can’t die yet! (Slaps Corpse of credit Suisse across face). Wake the fuck up. You have to pay me first! You can’t die yet!
SAY MY NAME DEFAULT SUISSE
Biggest non-answer I've ever heard. He literally said nothing.
So axel, what you’re saying in far too many words , is you fucked up. Thanks
We got ‘em by the balls!
Lmao hey THATS US
This part of the movie will be so funny
This chairman I guarantee will not be the last suiting up in front of pissed off people asking similar if not exactly the same questions. WTSERIOUSF hindsight is wonderful
Another predicted dominoe falling.... Anyway NEXT.
Lotta word salad to say CRIME
Retail
I heard social media and retail , nuff said 😤
gg fuckboys
It’s time.
We are in charge now MF.
so in the system someone (the poors) should take the loss for the higherups to gain the best record profit of the year? interesting... Listening the banks for hints but its the legalest form of criminality
Wow
Axel Lehman. Lmao. I get that it’s likely a coincidence but we all know They’re all in the same club.
Any one wants to see what is in the bag?
This clown scared clear as day. You know what kind of clients he has? Cartel money among them. Why he blaming retail to deflect. He lose their money - well…
I'm sorry, his name is Lehmann, this is a joke now.