Credit Suisse, one of Switzerland’s most storied banking institutions, collapsed in March 2023 after years of compounding scandals — from the Archegos Capital blow-up and the Greensill Capital collapse to a string of money-laundering convictions and billions in losses. Despite repeated promises of reform, confidence in the bank evaporated within days when its largest shareholder publicly refused to inject further capital. In a government-engineered emergency rescue, UBS acquired Credit Suisse for approximately $3.2 billion — a fraction of its peak value — ending the independent existence of a 167-year-old institution that had survived two world wars but could not survive its own management.
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