/biz/ - Business & Finance

>>53643969
I've got their Gamestop section from CS's original 2021 'we're fucked' report if anybody wants to jerk off real quick to that.

Isn't the most likely suspect for having made these swaps that everyone is speculating about still Archegos? We know CS had a bullet swap with Archegos which is basically a swap that only gets its value and payouts determined at expiration rather than periodically. If Archegos is in a net short position on a security then the swap would be to shift short exposure to the prime brokers until expiration, their prime brokers were Nomura, Credit Suisse, UBS Group, Morgan Stanley, and Goldman Sachs. If the counterparty that the prime brokers were dealing with (Archegos) died before the swap expires, then these institutions would now be stuck in a short position that doesn't expire with the swap. Any subsequent swaps would then be the prime brokers looking for new counter-parties to take on that short-exposure risk, just like what Archegos had done to them.

These funds that are blowing up being tigercubs matters a lot, the mother of all blowups happened last year. Archegos, and those bags are not closed. They all traffic in the same longs and the same shorts. Credit Suisse's repeated credit downgrades are a sign how bad their balance sheet is, and I think I know why. They were operating gamestop swaps for Archegos.