Credit Suisse Details Painful Final Days Before Rescue
Wall Street JournalAPR 2023
As shown by its rapid-fire asset sales, Credit Suisse is finally dying out and is in need of a stronger business to take over. While UBS can take on this role, the next few years of integrating the two banks need to be taken with caution. UBS needs to rid the company of Credit Suisse's outdated risky business tactics and prioritize wise banking management.
With a bank such as Credit Suisse to be bailed out in a manner horribly reminiscent of 2008, it's time for a radical rethinking of central bank policy. Such crises are the product of the central banks' policies and failure to supervise. Bankers cannot continue to attempt to serve both society and themselves — they must make the right decision or these poorly regulated markets are at risk of falling off a cliff.