Credit Suisse sacks mispricing traders
The bank said that its internal review had found the writedown of asset-backed securities positions held by its collateralised debt obligation trading business was only $2.65 billion, less than the $2.85 billion it originally announced on February 19.
"The pricing errors were, in part, the result of intentional misconduct by a small number of traders. These employees have been terminated or suspended and are being disciplined under local employment law. The review also found that the controls put
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