Credit Suisse and the Death of Swiss Banking

RIP Credit Suisse. Photo I took when I went to Zurich this past Christmas. Credit Suisse HQ in Zurich (soon to be UBS HQ II). UBS HQ is right across the street from the Credit Suisse HQ

It is truly an end of an era in Swiss Banking. The once venerable Swiss Banking institution, Credit Suisse, is being taken over by UBS for less than a $1/share. This of course comes with help from the Swiss National Bank, which provided $100 billion in liquidity to UBS to acquire Credit Suisse.

Credit Suisse, the storied institution, started in 1856 mainly to finance the…