March 13, 2023 2:07pm EDT
Investor who called Lehman collapse predicts the next big US bank failure
Credit Suisse will be next investment bank to declare bankruptcy, Robert Kiyosaki predicts
By Kristen Altus FOXBusiness
The Wall Street analyst and investor who called the 2008 Lehman Brothers’ collapse has revealed what bank he thinks will hit insolvency next amid Silicon Valley Bank (SVB) closure shockwaves.
"The problem is the bond market, and my prediction, I called Lehman Brothers years ago, and I think the next bank to go is Credit Suisse," the Rich Dad Company co-founder Robert Kiyosaki said on "Cavuto: Coast to Coast" Monday, "because the bond market is crashing."
Just days after SVB, the California-based bank primarily used by tech industry companies and startups, declared bankruptcy, New York-based Signature Bank announced it would be shutting down to protect consumers and the financial system.
Similarly to SVB, Signature Bank was popular among crypto companies. The institution provided deposit services for its clients’ digital assets but did not make loans collateralized by them.
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https://www.foxbusiness.com/markets/investor-called-lehman-collapse-predicts-next-big-us-bank-failure
