Evidence reveals Credit Suisse mortgage lapses
Emails show new story during crisis
According to an article in The New York Times, new evidence might destroy Credit Suisse’s (CS) clean name during the financial meltdown. Emails were discovered revealing the bank was well aware that it was giving mortgages to questionable applicants.
The documents are noteworthy because Credit Suisse, unlike many other major banks, has refused to settle large lawsuits stemming from the mortgage crisis. The bank has long maintained that its operations were held to a high standard and that the mortgage investments it sold lost value largely because of the broad housing collapse, rather than its practices.