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Financial Meltdown: What the Recent Collapse of US Banks and Credit Suisse Means for Investors
By The Asia Report  •  March 26, 2023
I have been following the recent collapse of several banks with great interest. We had the largest US bank failure since the Global Financial Crisis (GFC) in the late 2000s. Silicon Valley Bank (SVB), Signature Bank, and Credit Suisse have all experienced significant setbacks, leading to increased concern for the global banking industry. In this article, we’ll break down the events leading to these failures. Recent Bank Failures: On March 10, SVB was closed by regulators, marking the second-largest bank failure in US history. Soon after, on March 12, state regulators in New York closed Signature Bank. And on March 19, the Swiss National Bank helped facilitate the purchase by UBS—Switzerland’s largest bank—of Credit Suisse. Credit Suisse Troubles: Credit Suisse, Switzerland’s then second-largest bank, had been showing worrisome signs for some time. A myriad of scandals and issues, including frequent management turnover, massive investment losses, regulatory changes, and an increasingly difficult environment for banks, brought Credit Suisse...
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By The Asia Report
Richard is passionate about teaching the principles of value investing to people from all walks of life. Richard is also a frequent guest speaker on investing and financial markets at institutions such as University College London and the London School of Economics, and at investment conferences held in Singapore ...
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