From Bear Stearns to Credit Suisse: Crises, Mergers and Bailouts

Dark days for Swiss banking veteran Credit Suisse. (Image: Getty)

Mon, 20 Mar 2023

From as much as US$96 billion (NZ$110b) to around US$3b: Credit Suisse Group is poised to join the historic ranks of finance giants sold at fire sale prices in the grip of a market crisis.As UBS Group looks all set to snap up the once-storied Swiss institution, the emergency government-brokered deal over the weekend bears soft echoes of the 2008 banking crash as Wall Street preps for fresh volatility today.A reminder: during the global financial crisis, JPMorgan Chase paid about US$240 million for Bear Stearns – an investment bank that on...

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