The 167-Year-Old Empire Destroyed In One Weekend: Credit Suisse

The 167-Year-Old Empire Destroyed In One Weekend: Credit Suisse. Founded in 1856 by Alfred Escher to finance Switzerland's railways, Credit Suisse grew into a global financial juggernaut managing over $1.6 trillion in assets. Yet, after 167 years of banking dominance and extreme client secrecy, a mountain of scandals eroded the public's trust, causing the entire institution to completely collapse in the span of a single weekend in March 2023.

Discover the unbelievable true story of the dirty money, catastrophic investments, and historic bank run that destroyed Credit Suisse:
- The Tuna Bonds & Cocaine Scandals: The bank faced massive backlash for ignoring obvious red flags to launder $146 million for a Bulgarian cocaine trafficking ring. Additionally, they orchestrated $475 million in hidden loans that plunged Mozambique into a severe debt crisis.
- The Suisse Secrets: In February 2022, leaked data revealed that Credit Suisse's fortress of discretion had been used to manage over $100 billion for corrupt politicians, human rights abusers, and sanctioned criminals across 120 countries.
- Two Bombs in Three Weeks: The bank's credibility shattered following the collapse of Greensill Capital, which forced them to freeze $10 billion in client funds. Just three weeks later, the implosion of Archegos Capital Management cost Credit Suisse $3.5 billion—the single largest trading loss in the bank's history.
- The Leadership Circus: The bank cycled through four chairmen and CEOs in a matter of years. This included Antonio Horta-Osorio, who was brought in to clean up the company's culture but was forced to resign less than a year later for repeatedly breaking COVID-19 quarantine rules.
- The 72-Hour Bank Run: After their largest shareholder, the Saudi National Bank, refused further investment, panicking clients withdrew over $110 billion. Over a single weekend, the Swiss government orchestrated an emergency rescue, forcing rival bank UBS to buy Credit Suisse for a mere $3.25 billion. The controversial deal wiped out $17 billion in AT1 bonds and erased the 167-year-old brand forever.

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0:00 The Rise of a Financial Empire
3:11 When Success Becomes Dangerous
6:27 The Cracks Begin to Show
9:13 Two Disasters in Three Weeks
11:04 The Leadership Circus

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