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SouthBayDem

(32,517 posts)
Wed Jan 29, 2025, 01:27 AM Yesterday

Why Credit Suisse Was a Magnet for Scandals - In the City



Jan 2, 2025

In 2023, Credit Suisse collapsed, shaking the foundations of the global banking establishment. But for onlookers who were aware of the lender’s numerous afflictions, it’s sudden demise was no surprise at all. From one perspective, the bank’s succession of scandals arguably started as early as its founding some 167 years ago.

One of those observers who saw it coming was Bloomberg editor Duncan Mavin, author of Meltdown: Greed, Scandal, and the Collapse of Credit Suisse. Mavin has covered banking malfeasance for more than a decade, which in Europe necessarily involved Credit Suisse on an almost regular basis. In this episode of In The City, Mavin sits down with hosts Francine Lacqua and David Merritt to discuss his book and some of the lesser-known crises at the Swiss bank that led to its downfall.

Is London having another moment? Shaken by Brexit, decimated by the pandemic, threatened by new ways of working and a worsening cost-of-living crisis, the city remains Europe’s (and arguably the world’s) beating heart for finance and for culture. In the wake of turmoil, The City of London is reinventing itself. Every week on In The City, Bloomberg’s Francine Lacqua and David Merritt go behind the scenes in the Square Mile and the wider metropolis, uncovering the stories and speaking to the people that matter.
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