<p>On Bubble Trouble, we are never short of subject matter: from the metaverse, NFTs and Chinese real estate, to Silicon Valley Bank and er… that small issue of a former global powerhouse Credit Suisse. Remember them? Well our guest, Duncan Mavin, knows their story better than anyone, and he’s documented them in the wonderfully titled Meltdown: Scandal, Sleaze and the Collapse of Credit Suisse. </p><br><p>For more on Bubble Trouble, including transcripts of the show, visit us online at <a href="http://bubbletroublepodcast.com/" rel="noopener noreferrer" target="_blank">http://bubbletroublepodcast.com</a></p><p>You can learn more about Richard at <a href="https://www.linkedin.com/in/richard-kramer-16306b2/" rel="noopener noreferrer" target="_blank">https://www.linkedin.com/in/richard-kramer-16306b2/</a></p><p>More on Will Page at: <a href="https://pivotaleconomics.com/" rel="noopener noreferrer" target="_blank">https://pivotaleconomics.com</a></p><p>(Times below correspond to the episode without considering any inserted advertisements.)</p><br><p>Credit Suisse: A Rolling Crisis in Banking Scandals</p><br><p>In this episode of Bubble Trouble, hosts Will Page and Richard Kramer discuss the collapse of Credit Suisse with journalist and author Duncan Maven. They delve into Maven's book 'Meltdown: Scandal, Sleaze, and the Collapse of Credit Suisse,' exploring the myriad of crises that plagued the bank. They touch on scandals ranging from rogue traders and sanctions busting to laundering Nazi gold and funding corrupt projects in Mozambique. The conversation also highlights the rapid acquisition of Credit Suisse by UBS over a tense and decisive weekend. Duncan Maven provides insights into the bank’s culture, the broader implications for the banking sector, and why people should care about the ethics in banking. The episode concludes with the discussion of warning signs (or smoke signals) that indicate deeper issues within financial institutions.</p><br><p>00:00 Introduction</p><p>01:00 Part One</p><p>01:09 Guest Introduction: Duncan Maven</p><p>02:31 The Rise and Fall of Credit Suisse</p><p>03:32 The Impact of White Collar Crime</p><p>05:08 Cultural Issues at Credit Suisse</p><p>09:56 Historical Context of Swiss Banking</p><p>15:21 The Mozambique Scandal</p><p>19:49 The Role of Social Media in Credit Suisse's Collapse</p><p>23:00 The Bulgarian Mafia and Credit Suisse Scandal</p><p>23:47 Part Two</p><p>23:54 The Collapse of Credit Suisse</p><p>24:32 UBS Absorbs Credit Suisse</p><p>26:41 The Aftermath and Lingering Scandals</p><p>28:57 The Swiss Financial Crisis</p><p>32:58 The Future of Swiss Banking</p><p>40:05 Reception of the Book</p><p>42:08 Smoke Signals and Final Thoughts</p><p>46:37 Credits</p><p><br></p><br /><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>
