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Bloomberg Trader Arrested as WallStreetBets Phenomenon Finds Echo in Japan (Bloomberg) — A retail investor buys shares in a small company, touts his position on social media and inspires a horde of followers to do the same. The stock price goes to the moon — before crashing back to earth.It’s an all-too-familiar tale to anyone watching the market in 2021, but this wasn’t GameStop Corp. It wasn’t even in America. And it happened in 2018.It was in the Japanese city of Osaka, where a day… Source link

Bloomberg Greensill Says He Warned Credit Suisse Weeks Before Collapse (Bloomberg) — Lex Greensill said he told top Credit Suisse Group AG officials of his difficulties in securing fresh insurance to cover corporate loans underpinning his business for weeks before his supply-chain finance empire’s abrupt collapse.The ex-billionaire “regularly updated” executives including Chief Risk Officer Lara Warner on his problems in finding new cover after Australian insurer Bond and Credit Company… Source link