Keep track of the downfall of Credit Suisse, a Swiss investment bank

Keep track of the downfall of Credit Suisse, a Swiss investment bank
Personally, I think that the U.S. financial authorities and the Swiss financial authorities
I learned a lot about the unimaginable bond.
The Fed, the U.S. central bank, has sent the bank into a liquidity crisis
Since last year, it's been 10 billion dollars a month
I was surprised to find out that they provided us with dollar funding
Credit Suisse's bankruptcy is inevitable, prompting Swiss financial authorities to decide
Even when deciding to merge with UBS in a very short period of time, the U.S
Close consultation with the financial authorities was conducted, and the merger was established
As soon as the announcement was made, U.S. Fed Chairman Powell and Treasury Secretary Yellen
Under the joint name, the U.S. government made the decision of the Swiss financial authorities to the fullest extent possible
I was surprised to see that you released a letter saying that you welcome and support me
The Swiss authorities have been playing tricks against common sense in the financial markets
I wrote about the new capital bonds issued by Credit Suisse ($17 billion)
Instead of ignoring the rights of investors, it is actually a bank that has gone bankrupt
The European bond market's turmoil and financial crunch caused only shareholder profits
in the face of concern for
The U.S. government will preemptively introduce liquidity through dollar SWAP
He explicitly sided with the Swiss financial authorities, saying he would support them
I'm surprised to the point where I'm blacked out once again




검사만도 못한 경제관료들
.
작년에 이복현 검사가 금융감독원장에 발탁되었다는 뉴스를
처음 접했을 때 금융의 문외한이 감독기관의 수장으로써
어려운 시기에 "핵심 방향"을 제대로 잡을수 있을 까하는
의구심을 갖었었다
최근 이복현이 원장취임이후 금융기관의 반발에도 불구하고
금융기관의 대손충당금을 충실히 적립하도록 독려해 왔다는
사실을 뒤늦게 알게 되었다
우리나라 금융기관의 대손 충당금적립 금액은 여신잔액의
0.5%수준으로 미국등에 비하면 3분의 1수준이라고 알려져
있다
개인적으로 보면 "껍값 수준"에 불과하다고 본다
특히, 가처분소득 대비 200%인 가계부채와 부동산거품의
붕괘가능성등을 감안하면 더욱 그렇다
작년에 추경호가 부총리에 취임했을 때 가장 시급한 일은 욕을
처먹더라도 금융기관의 대손충당금을 지금보다 최소 5배는 더
늘리도록 경제부처 수장으로써 관계기관을 독려해야 한다고
주장한 적이 있지만 추경호는 이에 대한 "방향 감각" 조차도
없어 보였다
경제관료 보다 휠씬 할일을 찾아서 하고 있는 이복현원장을
칭찬해주고 싶지만 그 보다는 오히려 검사보다 형편없이 못난스위스 금융당국의 꼼수: 김진태의 부활인가?
작년에 김진태 강원지사가 레고렌드 채권을 상환하지
못하겠다고 생때를 쓰다가 채권시장의 혼란을 초래한 금융에
완전 무식한(?) 자로 여론에 몰려서 개망신을 당하고 나서야
채권을 상환하겠다고 꼬랑지를 내린 적이 있다
최근 사실상 도산한 Credit Suisse 은행을 처리함에 있어서
스위스 금융당국이 법률이나 시장관행을 무시하고 스위스
은행의 사리사욕을 챙기기 위해서 꼼수(?)를 두는 바람에
유럽의 채권시장 전체가 혼란에 빠질 가능성이 지적되고 있다
원래 Credit Suisse 은행이 발행한 신종자본채권이라고 하는
소위 C0C0채권에 대한 투자자의 권리는 최소한 주주의
권리보다는 우선권을 갖도록 설계되어 있었는데
이번에 은행이 사실상 도산했다는 이유로 COC0채권의 원금을
상환하지 못하겠다고 뒤로 자빠졌는데 그러면서도 Credit
Suisse 은행의 주주들의 권리는 사실상 보장해 주는 편법과
꼼수를 두었다는 점에서 많은 국제금융전문가들로 부터
비난을 받고 있다
스위스금융당국은 이러한 비난을 피해가기 위해서 미국의
Fed파월의장과 옐련재무장관으로 부터 협조를 받아서 만일에
유럽의 채권시장이 혼란을 겪을 경우 달러SWAP을 작동하여
자금을 풀겠다는 구두 개입을 얻어냈지만

'9 months from approval of drawings to final production shipment'
"No test car."

This is a phrase that I was shocked while reading an in-depth article by Japanese automobile media about the Daihatsu fraud experiment.

Usually, when a drawing is approved, a test car is used to make a (tentative name) test car. With this, we continue testing in various situations such as roads, climatic environments, and species by country.

There's another thing to make, and it's a (tentative name) collision experiment model.
We have to conduct crash tests in different directions and speeds to meet the country's standards, and pass the standards. We also do rollover tests.

After everything is over, we start production management, lay a line in the factory, and start preparing for mass production.
Even if the car is completed, the mass production preparation process is also easy, so production and final shipment are possible only after a considerable period of time.
Usually, it will take two years from the approval of the drawing to the final mass production. Until the 1990s, this process took four to five years.

But these days, Daihatsu has finished it in nine months.

As you know, Japanese compact cars are in extreme competition in their shrinking domestic market.
You can feel it as soon as you get in the car that you are suffering from the extreme margin that you try to save on a single yen basis.
Whole plastic, dramatically simplified instrument panel, thin, hard sheets, sound insulation almost none, hide cheap melancholy with bright colors and patterns...

It is also evident in the final production that consumers can feel, but how tight is the production process in-house.

As a result, there is usually only one test car, and even that car is turned into a simulator and sometimes it is not made at all.
You don't do actual driving tests.
As such, it is usually finished within a year, or as early as 9 months, from the approval of the drawing to the final factory mass-production.
Time is a cost.

Of course, safety regulations are becoming stricter every year, so the number of models manufactured for dispatch tests is increasing,
In order to reduce the increased costs elsewhere, we are moving toward not making test cars for driving in various environments at all.

Oh,
Since the crash test was also conducted on a very tight schedule, the airbag-related processor could not be developed on time, so there was a crash test while bursting the airbag with a timer. ㅎㄷㄷ
There have been times when the left collision test results were applied to the right without experiment and passed.

In any case, since the development period and cost were reduced to such an extreme extent, 174 cheating cases were accumulated in 64 models.

No matter how much Daihatsu models are for the domestic market, they are often sold to emerging countries such as Southeast Asia, and it is amazing how they can go to the final mass production without making just one or any driving test vehicle.
Whether you can virtually simulate all kinds of situations in different environments and your sense of driving, or just ignore them...

Anyway, it was amazing news in many ways, so I moved on.

When something grows, it's bound to create extra space, margins, holes, where the range of motion and new possibilities sprout.

But...
In a shrinking market/environment/country, where the slope is downhill, there is pressure from everything.
The tightness and depression spread in great detail, so they tighten people everywhere they come in contact. It accelerates the lethargy. It's not just a home or a company, but you never know the very bad sense of when it happens on a grand national level.

I've been thinking for decades that I wish I wouldn't follow him, but I think it's stronger than ever. We're also not in a good situation in the future…

More than.

#Daiats