Business
It’s a little bit of history repeating in Credit Suisse’s litany of losses – Sydney Morning Herald
Credit Suisse has been embroiled in a series of financial disasters that could have been avoided had it learned from its compatriot, UBS.
Credit Suisse could perhaps have avoided the scandals and losses it has experienced over the past year had it learned from history that it should have been very familiar with, given its geographic proximity to UBS.
In the late 1990s the Union Bank of Switzerland merged with Swiss Bank Corp to create UBS. Swiss Bank had acquired British investment bank S.G. Warburg in the mid-1990s and US investment bank Dillon Read in the late 1990s, just ahead of the merger.
The enlarged and aggressive UBS then…
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