High profits in 2006 and 2007 are likely to be unsustainable, as they are based largely on the strength of the overall market. There is no reason to believe that revenues will continue to rise, especially given the weak U.S. housing market.
The bank's trading desk has been undertaking more significant investment risks, which could pose a problem if the market turns sour. Since Credit Suisse is exposed to great volatility, they could stand to lose a lot of money extremely quickly if market conditions prove unfavorable.
Credit Suisse is in the middle of a massive reorganization campaign, which includes the One Bank initiative as well as internal consolidation within the asset management and private banking divisions. So far, CS has been making great progress through this restructuring program; however, this progress depends on management remaining committed to the reform, even if results may take years to be fully realized.