Credit Suisse is BIGGER than Lehman Brothers
According to some rumors, a major European investment bank is about to collapse, and eyes are turning to Deutsche Bank $DB and Credit Suisse $csgn.zu . These two banks combined have 4.6 times more assets than Lehman Brothers had when it filed for bankruptcy in 2008 during the financial crisis.
Credit Suisse is one of the two major Swiss banks along with UBS $ubsg.zu , and it currently has over $800 million in assets across diversified businesses. The main reason why the company is in such trouble today is because of the low-interest rates in Switzerland and printing of Swiss Francs $usdchf , which led to the bank taking unnecessary risks.
Will it collapse? Will this collapse lead to another financial crisis?
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