What has happened to put these two banks into financial difficulty? Is it that they have been on a decline and are struggling to recover, or is some bad investment about to implode on them?Looks like we are in for a lot more financial misery with credit Suisse and Deutch Bank on the brink.
Credit Suisse and Deutsche Bank on the Brink of Collapse
Credit Suisse and Deutsche Bank are rumored to be in trouble with potentially massive ramifications for crypto and wider marketsbeincrypto.com
2022 mini-budget discussion
- Thread starter Harlequin
- Start date
- Status
TBF, I mainly deal with manual reads and only see that side of things. I would say that though volumes of manual reads requested are dropping, I dont think they're doing so as quickly as expected across the industry. But yes, the Smart roll out has been pretty bad generally across both poor technology solutions in the first place and then overly ambitious targets.
I was actually the Planning Manager for a company that dealt with EDFs calls before this, we had to set up an dedicated team to deal with Smart problems.
Soldato
- Joined
- 4 Aug 2007
- Posts
- 22,510
- Location
- Wilds of suffolk
Doesn't really say anything
My assumption is that there is speculation they would see significant bad debt and asset losses in a global recession and they may not have the funds to cover this.
Cheers all good to know. Totally agree, rushed out gen 1 with no foresight, idiots and even now silly high levels of adoption expected.
As ever the way to make it happen is with peoples wallets. A non SM penalty of 25% per unit would probably help the laggards get switching
Cheers all good to know. Totally agree, rushed out gen 1 with no foresight, idiots and even now silly high levels of adoption expected.
As ever the way to make it happen is with peoples wallets. A non SM penalty of 25% per unit would probably help the laggards get switching
Yep, the number of meter reads that were submitted by customers at Cap changing times were ridiculous, 6-7 times the normal weekly volume. Simply because people saw there was a financial benefit to themselves for doing so. Otherwise they couldn't give a damn. If we got those volumes of COR (customer own reads) regularly then a big chunk of the cost associated with meter reading would disappear.
Permabanned
- Joined
- 23 Apr 2014
- Posts
- 23,553
- Location
- Hertfordshire
Some automated service kept phoning me to book a smart meter install, so I blocked the number. 
Looks like we are in for a lot more financial misery with credit Suisse and Deutch Bank on the brink.
Credit Suisse and Deutsche Bank on the Brink of Collapse
Credit Suisse and Deutsche Bank are rumored to be in trouble with potentially massive ramifications for crypto and wider markets
Yup, won't be Northern rock level I feel but that will ripple across Europe. Could have a significant knock on effect!
Last edited:
Even though my price didn't change in October I always submit last day of the month as it generates a bill on submission.
I'm trying to get bills monthly as they couldn't fit a smart gas meter. Being in that queue was tedious!
Last edited:
Apparently kamikwasi is meeting with banks over mortgage rates.
Kwasi.. Guys why you make me look bad. Base rate is only 2.25. What gives?
Banks.. We have no idea what you're going to crash/tank/ruin next. Pricing in "cluster ****" is is not easy!
Kwasi.. Guys why you make me look bad. Base rate is only 2.25. What gives?
Banks.. We have no idea what you're going to crash/tank/ruin next. Pricing in "cluster ****" is is not easy!
Soldato
- Joined
- 3 Jun 2005
- Posts
- 3,361
- Location
- The South
Wasn't this rumour initially started by some crypto bros on Reddit/Twitter, then people have ran with it with the whole thing spiralling from there?Looks like we are in for a lot more financial misery with credit Suisse and Deutch Bank on the brink.
Credit Suisse and Deutsche Bank on the Brink of Collapse
Credit Suisse and Deutsche Bank are rumored to be in trouble with potentially massive ramifications for crypto and wider markets
Edit - this was from a few days ago, https://www.wsj.com/articles/how-a-...d-credit-suisse-rattled-its-stock-11664978035
Last edited:
Probably overleveraged on a range of financial assets for one, then just weak economic activity over last 2 years mainly due to the COVID lockdown. This is reflected in the current interest and inflation rates. Personally I feel it's a forced crashing of the economy, when Trump was in things were booming. Many are saying the lockdown shouldn't have happened, but you can't lockdown businesses for 2 years while handing out billions in all kinds of benefits including furlough and not expect some heavy future consequences.
Soldato
- Joined
- 4 Aug 2007
- Posts
- 22,510
- Location
- Wilds of suffolk
Erm....
People have been saying Deutsche bank will collapse for many years now... The credit Suisse situation is interesting though and you know when the CEO comes out to reassure everyone that is all is OK then things are very much not OK. Still, the chances of a banking crisis exactly like the last seems slim to me.
It wouldn't even be that. From what i can tell it's just their share price that's fallen, that's got very little to do with how financially viable they are.
e: It's worth saying though that their stock prices have fallen because people are concerned about a string of losses and fines recently. Plus we wouldn't really know how financially viable they are until such a point as they went bang.
Last edited:
Caporegime
- Joined
- 7 Apr 2008
- Posts
- 26,126
- Location
- Lorville - Hurston
Don't forget, we ain't the only country in Europe going to ****
But we’re the only one where our government is actively making it worse…
I do not have the same levels of confidence in the financial system.
The fact that a couple of percent increase in gilt yields caused a cascading situation where pension fund (supposedly the boring, safe, investors) were going to go insolvent in a matter of hours, required the BoE to abandon it's plans to drop QE and start printing money again.....this does not suggest to me that all is hunky dory under the surface.
But you know, apparently we need less financial regulation. Seemingly flying in the face of the fact that the financial markets failed again last week and had to be bailed out.
This in a nutshell. Every time one of these drongos is on tv saying "global crisis", "putin", "covid" I always remember that is all true but we just keep making it worse for us than any other country. We are still the only country not to get back to pre covid GDP levels yet.
And Brexit, by the Govt's departments own admission has dropped our GDP by 4% and the way we mis handled Covid also had a bigger economic effect on use compared with our neighbours and 12 years of austerity and then the current idiots get into power and make it even worse.
- Status