And to think that only about six months ago, Credit Suisse fired one of their analysts for predicting that SAir Group were facing a loss of CHF 0.5 billion.
It sounds like a bad joke today, but the background was that in those days, the incestuous Swiss corporate landscape had produced a board at SAir Group that included Credit Suisse boss Lukas Mühlemann, one of the most notorious and prolific collectors of Swiss board seats. This a$$hole could obviously not live with the fact that one of his in-house analysts knew more about SAir Group than its own board (or more than its own board were prepared to admit to).
The effect of all this was that Credit Suisse were still recommending "BUY" on SAir Group stock at a time when CS-Mühlemann would have known the airline and its associated companies were headed for the scrap heap.
So much for Swiss banking ethics. And you can forget about their stock exchange watchdog, too
