Loading ...Credit Suise may be embellishing their balance sheet. Those “off balance sheet” liabilities always seems to bite somebody. The liquidity crunch may be squeezing somebody a little too tight. Somebody may have some adjustable rate loans or has loans in a different currency and the exchange rate is working them over.
Be very careful if you are leveraged. I was long Swiss francs coming into today. I was a little ahead so my loss was minimal.
Insurance companies have their reserves invested and that little wind on the east coast may have wiped them out and unable to pay claims. General Reinsurance always gets hit hard on catastrophe losses.