Gundlach Blames Credit Suisse’s Bondholders for Being Wiped Out
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DoubleLine Capital’s Jeffrey Gundlach has berated Credit Suisse Group AG’s bondholders for being angry after the takeover by UBS Group AG wiped out about 16 billion Swiss francs ($17.3 billion) of risky notes.
For Gundlach, the blame lies with debt owners who “foolishly kept holding Credit Suisse’s bail-in bonds,” he said in a tweet. “Learn how to manage risk!”