Credit Suisse Group admitted fraud today, the first company to do so since 1999. What does this mean for investors?
On today's Investor Beat, host Chris Hill and Motley Fool analyst Morgan Housel discuss the repercussions of Credit Suisse's pleading guilty of conspiring to aid tax evasion. Morgan explains that, while the company has pleaded guilty, besides a paltry $2.6 billion in fines and penalties, the impact of the fraud will probably not affect the company much. In fact, Morgan points out that the company's stocks were up today.
Big banking's little $20.8 trillion secret
There's a brand-new company that's revolutionizing banking and is poised to kill the hated traditional bricks-and-mortar banks. That's bad for them, but great for investors. And amazingly, despite its rapid growth, this company is still flying under Wall Street's radar. To learn about about this company, click here to access our new special free report.