The news purveyors are reporting that Credit Suisse is ready to give it up -- including admitting wrongdoing and giving up $1 billion. The actual details are not known, but the speculation is that the template for the deal will be the UBS arrangement with a deferred prosecutions agreement.
I will amend or supplement this blog entry as I become aware of additional material details.
Articles:
See David Voreacos, Credit Suisse May Settle U.S. Probe by Admitting Wrongdoing, Paying Fine (Bloomberg 8/14/11).
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