Get the best daily market and macroeconomic commentary anywhere for less than $7 per month.
Already have an account? log in
‘Everything Is Fine’: Saudis Suggest Credit Suisse Turmoil Was Misunderstanding
Yesterday, Ammar Al Khudairy was "absolutely not" going to invest another dollar (or riyal or franc) in Credit Suisse.
While dismissing the possibility that the Saudi National Bank might consider upping its 9.9% stake in the besieged Swiss lender, Al Khudairy pointed to regulatory concerns, but said he could "cite five or six other reasons."
Al Khudairy's remarks were the skier's scream that started the avalanche Wednesday, when Credit Suisse saw its stock and bonds plunge in a harrowing sessi
He also caused the price of oil to be affected.
Who did this clown get a phone call from?