“Credit Suisse was the poster child for banking screwups.”
History of CS and Swiss banking. Useful and thorough overview, although a bit one sided at times. While the red thread of scandal and cultural failures guided the narrative, CS had a strong client franchise and was respected for their thought leadership and advice, even as they were taking outsized risks that led to the final result. That part of the history was missing. Banking is built on trust. In the end, depositors and regulators lost faith the bank could be fixed. 3.5 stars rounded down.
History of CS and Swiss banking. Useful and thorough overview, although a bit one sided at times. While the red thread of scandal and cultural failures guided the narrative, CS had a strong client franchise and was respected for their thought leadership and advice, even as they were taking outsized risks that led to the final result. That part of the history was missing. Banking is built on trust. In the end, depositors and regulators lost faith the bank could be fixed. 3.5 stars rounded down.