Credit Suisse will have to let an independent monitor keep an eye on it, but that's a minor inconvenience at worst. No wonder the share price went up..
Pleading guilty to criminal charges is proving so harsh and damaging to Credit Suisse that its stock price is only up 1 percent Tuesday morning. Must be nice to be too big to truly prosecute. The Swiss bank pleaded guilty Monday evening to conspiring to help U.S. customers evade taxes, the first such guilty plea by a major financial institution in years. Not long ago, prosecutors, regulators, banks and shareholders all feared that having a major bank like Credit Suisse plead guilty could have catastrophic consequences for the bank and the global economy. Now they know better -- everything will be just fine.