Credit Suisse issues a Friday News Dump which the NY Times promoted without adjusting the bank's talking points to properly describe the settlement. The Credit Suisse Friday News Dump needs to be challenged and exposed for what it is.
Published on FridayNewsDump.com:
According to the NY Times, Credit Suisse announced an $885m settlement with the US Federal Housing Finance Agency for selling “questionable” loans to Fannie Mae and Freddie Mac. No one pays $885m for “questionable loans” they pay $885m for deception and illegal loan sales, for selling an unsafe product they knew or thought would fail without disclosing the true risk. It’s understandable that they would word it help improve their image. Considering the NY Times carried their language without properly adjusting it to appropriately describe the settlement is an unfortunate day.