European banks don’t understand the new rules. 10x leverage on vast positions that can’t be unwound without crashing the share price?
And they think there are no predators who will hunt your liquidation? Such long positions just beg to be shorted.
The new landscape is one where algos, quants and wallstreetbets-type groups have access to vast troves of information looking to drain someone’s ill thought out investment. Hwang & CS are the ideal target; old fashioned and full of ego, certain of their superior abilities.
A feast on the platters of the smart money today.
The CS losses pay for the lambos of script kiddies.