Failure of oversight: how a great bank was brought to its knees

From 2010, Credit Suisse was fined more than US$15 billion by various governments. (Image: Mariia Shalabaieva, Unsplash)

The Wall Street Journal

Sun, 23 Mar 2025

By Edward ChancellorSwitzerland’s two global banks suffered very different fates as a result of the 2008-09 financial crisis. While UBS was forced to go cap in hand to the Swiss Government for a bailout, its rival Credit Suisse deftly sidestepped the subprime debacle. Nearly 15 years later, however, Credit Suisse would find itself on the brink; its reputation sunk so low that it could be brought down by a single tweet.In Meltdown, Duncan Mavin, a financial journalist who has worked for the Wall Street Journal and other newspaper...

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