Swiss defend $17BN AT1 bond wipeout in Credit Suisse deal as furious creditors including David Tepper vow to sue Switzerland

(NaturalNews)

(Natural News) Amid the justifiably shocked outcry from Credit Suisse junior debtors, who saw their entire AT1 debt tranche wiped out before the equity was fully impaired, violating every conventional liquidation waterfall, on Thursday Swiss financial regulator Finma has defended its decision to wipe out a huge swath of risky subordinated … [Read More...]