Reuters is reporting this afternoon that:
Swiss bank Credit Suisse plans to tap investors for a "substantial" capital raising to fund a restructuring of the bank under new Chief Executive Tidjane Thiam, the Financial Times said on Thursday.
Last night we had DeutscheBank admitting it was facing major losses.
Credit Suisse is now saying it might need SFr5 billion and the main reason seems to be to pay for losses and a resulting restructuring.
Twice in twenty four hours may just be chance, but this is also the pattern that precedes financial crises.
Yes, I admit I am being a pessimist right now, but any other option looks unwise to me.