{"id":16206,"date":"2014-04-07T19:43:38","date_gmt":"2014-04-07T17:43:38","guid":{"rendered":"http:\/\/www.w-t-w.org\/en\/?p=16206"},"modified":"2014-04-07T19:43:38","modified_gmt":"2014-04-07T17:43:38","slug":"credit-suisse-under-continued-pressure-from-us","status":"publish","type":"post","link":"https:\/\/www.w-t-w.org\/en\/credit-suisse-under-continued-pressure-from-us\/","title":{"rendered":"Credit Suisse Under Continued Pressure from US"},"content":{"rendered":"

Benjamin Lawsky, Ny State’s Financial Services Superintendent<\/a>, \u00a0has Credit Suisse in his crosshairs.<\/p>\n

Our correspondent Andreas Frank calls our attention to Reuters reporting:<\/p>\n

Switzerland\u2019s second-largest lender had raised expectations it was emerging from its long-running American tax controversy when it set aside an extra half a billion dollars last week to deal with a U.S. Department of Justice investigation of its participation in offshore tax evasion.<\/p>\n

But Benjamin Lawsky, New York\u2019s financial services superintendent, is now examining whether the bank lied to New York authorities about creating tax shelters, raising the possibility of another investigation, a source familiar with the matter told Reuters.<\/p>\n

Shares in Credit Suisse dropped 2.6 percent to 28.69 Swiss francs in Zurich on Monday, underperforming the European benchmark <.SX7P>, which was 1 percent weaker, as investors digested the possibility of a costly inquiry.<\/p>\n

\u201cThere is still a lot of uncertainty around all these legal issues at Credit Suisse. Nobody can tell how much it will really cost in the end,\u201d said Peter Stenz, a portfolio manager of Swiss equities at Swisscanto, one of the 50 largest stakeholders in Credit Suisse.<\/p>\n

Testifying before the Senate Sub Committee on Permanent Investigations, Credit Suisse waffled.<\/p>\n

\"Credit<\/a><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Benjamin Lawsky, Ny State’s Financial Services Superintendent, \u00a0has Credit Suisse in his crosshairs. Our correspondent Andreas Frank calls our attention to Reuters reporting: Switzerland\u2019s second-largest lender had raised expectations it was emerging from its long-running American tax controversy when it … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":22,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[22,13],"tags":[],"class_list":["post-16206","post","type-post","status-publish","format-standard","hentry","category-corruption","category-finance"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t