The Meltdown of Credit Suisse w/ Duncan Mavin

https://is1-ssl.mzstatic.com/image/thumb/Podcasts116/v4/79/12/2b/79122bde-b1d1-9b8c-f802-176274edc707/mza_5549684609263267600.jpeg/600x600bb.jpg

Bubble Trouble: Laying Out Inconvenient Truths About How Business and Financial Markets Really Work

Magnificent Noise x Richard Kramer x Will Page

185 episodes

8 months ago

Bubble Trouble features conversations between economist and author Will Page and independent analyst Richard Kramer that lay out some inconvenient truths about how financial markets really work. Like the “boy who cried wolf,” financial markets have a peculiar tendency to repeat past mistakes and get themselves into “bubble trouble.” They party hard, drink too much of the Kool Aid, and wake up with a pounding hangover...only to do the same thing the next day. With tech dominating daily headlines and teenage traders driving stocks to unprecedented valuations, you might be asking “What’s really going on?” “What am I missing?” Imagine having a set of tour guides to tell you the “story behind the story” of the world’s largest tech companies, and how they bend - or break - the rules of economics.

Hosted on Acast. See acast.com/privacy for more information.

All content for Bubble Trouble: Laying Out Inconvenient Truths About How Business and Financial Markets Really Work is the property of Magnificent Noise x Richard Kramer x Will Page and is served directly from their servers with no modification, redirects, or rehosting. The podcast is not affiliated with or endorsed by Podjoint in any way.

Hosted on Acast. See acast.com/privacy for more information.

The Meltdown of Credit Suisse w/ Duncan Mavin

Bubble Trouble: Laying Out Inconvenient Truths About How Business and Financial Markets Really Work

47 minutes 3 seconds

11 months ago

The Meltdown of Credit Suisse w/ Duncan Mavin

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.

For more on Bubble Trouble, including transcripts of the show, visit us online at http://bubbletroublepodcast.com

You can learn more about Richard at https://www.linkedin.com/in/richard-kramer-16306b2/

More on Will Page at: https://pivotaleconomics.com

(Times below correspond to the episode without considering any inserted advertisements.)

Credit Suisse: A Rolling Crisis in Banking Scandals

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.

00:00 Introduction

01:00 Part One

01:09 Guest Introduction: Duncan Maven

02:31 The Rise and Fall of Credit Suisse

03:32 The Impact of White Collar Crime

05:08 Cultural Issues at Credit Suisse

09:56 Historical Context of Swiss Banking

15:21 The Mozambique Scandal

19:49 The Role of Social Media in Credit Suisse's Collapse

23:00 The Bulgarian Mafia and Credit Suisse Scandal

23:47 Part Two

23:54 The Collapse of Credit Suisse

24:32 UBS Absorbs Credit Suisse

26:41 The Aftermath and Lingering Scandals

28:57 The Swiss Financial Crisis

32:58 The Future of Swiss Banking

40:05 Reception of the Book

42:08 Smoke Signals and Final Thoughts

46:37 Credits

Hosted on Acast. See acast.com/privacy for more information.