![]() ![]() It's had a bunch of scandals and fines and reputational damage, that kind of thing. And also, Credit Suisse has been troubled for a while. And he said the failure of Silicon Valley Bank had investors and depositors feeling pretty panicky. He also used to work as a bank examiner for the Federal Reserve. He's a professor of finance at Boston University. And it was basically on the brink of failure this weekend. It is considered one of the most important banks in the world. So Credit Suisse is Switzerland's second-largest bank. HUANG: So how did all this start? Why did Credit Suisse find itself in crisis? Here to talk more about the deal and what it means is NPR's Stacey Vanek Smith. It comes just days after turmoil hit the banking market after the fall of Silicon Valley Bank. The emergency deal today cost about $3 billion, and it likely saved Credit Suisse from going bust. We begin tonight's program by looking into the purchase of Swiss bank Credit Suisse by rival UBS.
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