Wolf Review(Meltdown. Scandal, Sleaze and The Collapse of Credit Suisse by Duncan Mavin)
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(Contents) This title by Duncan Mavin detailed the events that lead to the collapse of one of the most iconic Swiss banking giant. The book gathers information from insiders who share the inner workings and culture of Credit Suisse(CS). The history of CS is a tale of fortunes won and lost, of controversy and disagreement, of dispute and accusations. The events that led to the demise of the banking giant were a concoction of failure in epic proportion which ultimately bought down the 167-years-old bedrock of the Swiss financial industry. Credit Suisse was founded in 1857 by Alfred Escher. He saw a need for a bank to finance Switzerland’s ever growing need for infrastructure in the mid 1800s. His clout in politics and in business propelled CS as the go-to bank. Switzerland’s banking industry didn’t take off till the Great War. Due to Switzerland’s neutrality, it became a safe place for wealthy individuals and families to place their money. Occupied countries placed huge sums of money wi...