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Bank Runs, Bank Failures and How Safe Is My Money
Maximus: Credit Suisse had its own problems before any of this banking business boiled over. The bank did not issue its 2022 annual report last week citing serious errors discovered on its books from 2021 and 2022. Shares plunged 23% last week and were halted for trading on Friday. Moody's, the credit rating agency, downgraded the entire US banking sector to negative.