Credit Suisse: Chronicle of a Heralded Decline – Economy
From
Isabel PfaffBerne
It once looked as if one major Swiss bank could swallow the other. It was 2008, the financial crisis triggered by the US bank Lehman Brothers had reached Europe. But at that time it wasn’t her that stumbled CreditSuisse, but UBS. She was sitting on a mountain of US junk paper, she was threatened with insolvency, and in the end she had to be rescued by the National Bank and the Swiss government. shortly before, according to the Tages-AnzeigerCredit Suisse is said to have checked whether it could take over UBS – but the authorities quickly rejected the plan.
