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MarketFoolery

MarketFoolery: 05.20.2014

MarketFoolery

The Motley Fool

Money, Business, Motley, Business News, Stocks, News, Investing, Market, Fool

4.71.7K Ratings

🗓️ 20 May 2014

⏱️ 17 minutes

🧾️ Download transcript

Summary

Will Credit Suisse’s Criminal Record Hurt its Bottom Line?
The guys discuss how Credit Suisse is going to handle having a criminal record, and if other big banks will fall in line now. Plus today’s a grab-bag of retail earnings, but which company is our analysts’ favorite?

Transcript

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0:00.0

It's Tuesday, May 20th. Welcome to Market Foolery. I'm Mark Reith and joining me in studio from Motley Fool 1, Morgan

0:08.6

Housle and from Million Dollar Portfolio Mike Olson. Gentlemen, how's it going?

0:12.8

Hello?

0:13.8

Things are well.

0:14.6

How are you?

0:15.6

I'm glad to hear things are well with you.

0:17.4

It's always nice to see a smiling Mike Olson in my life.

0:20.0

It feels great.

0:21.0

It does.

0:22.0

Everyone's happy.

0:24.0

We've got a lot going on today in the world of earnings.

0:26.7

Maybe not everybody is happy as we look across the board here.

0:30.9

And we start with Credit Suisse.

0:34.3

In an announcement on Monday, Credit Suisse pleaded guilty to conspiring to aid tax evasion.

0:40.8

That's a new one for a big bank.

0:42.2

In fact, isn't this the first time a big bank has admitted guilt to anything since about the 90s?

0:47.0

Yeah, big corporations get to do something that people can't, which is pay a fine that is the equivalent of about 30 cents for them and then admit

0:55.9

and then either admit or deny wrongdoing that's how it normally works so you

1:01.6

just pay a miniscule fine and then everyone is happy and everyone goes away.

1:05.0

But they actually forced Credit Suisse to plead guilty in this case, which is extremely rare.

1:09.7

What does that do though?

1:10.7

I mean, it's so pretty interesting, shares were up about 1% this morning the

...

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