Tabloid Headline In Main Stream Media Leads To Credit Suisse Bank Downfall
We thought tabloid press wreak havoc in celebrity lives. At least celebrities have something to tradeoff. Who would have thought a tabloid like headline would create havoc to a swiss bank?
Before digging in — what’s my definition of tabloid headline? take a normal looking line somebody said, take a part of it and make it a headline with the sole goal of making it sensational.
In other words, the celebrity screams — I was taken out of context!
Same happened to the chairman of the Saudi bank.
The tabloid headline, across the world, reads: Credit Suisse’s biggest backer, Saudi National Bank, has said it won’t provide further financial help for the bank.
The headline should have read: Credit Suisse’s biggest backer, Saudi National Bank, has said it won’t provide further financial help for the bank because they hit the regulatory limit of how much Saudi National Bank can hold at Credit Suisse.
Honest line which is factually correct but not sensational enough to make money: Credit Suisse’s biggest backer, Saudi National Bank, has hit the regulatory limit of how much they can hold at Credit Suisse limiting their ability to provide further financial help — if needed.
