What a wild ride it’s been these past couple of days!
Imagine being inside Credit Suisse, watching the company’s share price get crunched and your CEO try to stare down the doubters, only for the Swiss to step in with emergency funding.
Inside CS, employees couldn’t help but be glued to the action. The bankers were assuring clients everything would be OK, while wishing the First Boston spin-off had come sooner. The private client advisers probably had the most calming to do.
At the end of the day, it was another reminder that governments have the true power. For all the shininess and slick PR spin around the investment banks, sometimes they’re only as good as the bigger institution willing to stand behind them.
The private equity investor is thinking about knocking together a new syndicate of investors to invest in its healthcare staffing business, Healthcare Australia.
