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Losses, mismanagement, failed strategies; how Credit Suisse reached crisis point

Losses, mismanagement, failed strategies; how Credit Suisse reached crisis point

Mar 18, 2023, at 10:07 am

The crisis in Credit Suisse had been brewing since 2021, but the Swiss lender rattled investors on Tuesday by revealing that it had discovered "material weaknesses" in its 2021 and 2022 financial reports. On Wednesday, its stocks tumbled to an all-time low, stoking concerns over the overall heath of the banking sector, especially after the collapse of two banks in the U.S.