The Swiss claim the U.S. banking crisis ultimately toppled Credit Suisse. But are they right?

The Swiss claim the U.S. banking crisis ultimately toppled Credit Suisse. But are they right?

From cnbc.com

Following Credit Suisse ’s “emergency rescue” by rival UBS , Swiss authorities placed a heavy emphasis on the role of U.S. regional banking collapses in pushing the stricken Swiss lender to the brink. Credit Suisse’s most recent share price plunge began with the collapse of U.S.-based Silicon Valley Bank, but was compounded when the 167-year-old Swiss institution announced that it had found “material weaknesses” in its financial reporting procedures. Confirmation from top investor the Saudi National Bank that it could not provide any more funding to Credit Suisse then provided the final blow, prompting ... (full story)

Nope. Their own corruption, deeply rooted in greed and self-deception that they could get away with their evil forever, is what toppled them.

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