How SVB Triggered Credit Suisse’s Latest Mess—and Sparked Fears of a Financial Crisis
Credit Suisse #CreditSuisse
Welcome to the great financial crisis of confidence.
It started last week with the collapse of crypto lender Silvergate (ticker: SI), and spread to venture-capital favorite SVB Financial (SIVB), parent of Silicon Valley Bank, before taking down Signature Bank (SBNY), which also had crypto connections. Now, the crisis of confidence has spread to Switzerland’s Credit Suisse a “global systemically important bank” that has been in the midst of a turnaround for several years without much to show for it.