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Credit Suisse sued for $24 billion ski resort "fraud" and "racketeering"
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Poster:
A snowHead
Poster:
A snowHead
The Zurich-based bank Credit Suisse is being sued for $24 billion by 3000 investors in American ski resorts, who claim that the bank lent them money based on inflated valuations, before the property market collapsed.
This report from
Bloomberg/BusinessWeek.com
Quote:
The lawsuit alleges racketeering, breach of fiduciary duty, fraud and negligence. The lawsuit seeks $24 billion in damages, triple the $8 billion in alleged losses for property owners
Obviously
A snowHead
isn't a real person
Obviously
A snowHead
isn't a real person
Think we should have a whip round for all concerned. Don't know about anyone else but I've always kind of known the real value of any property I've bought. You just do. No sympathy.
Well, the person's real but it's just a made up name, see?
Well, the person's real but it's just a made up name, see?
They're not asking for sympathy, they're demanding money. They are clearly very unhappy (greedy) bunnies and they've probably hired the most powerful (expensive) lawyers around. They are, after all, suing a Swiss bank - not some Icelandic circus.
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Subprime mortgage finally hits properties in skiing resorts!
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