Swiss Regulator Deflects Blame for Credit Suisse Debacle usnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from usnews.com Daily Mail and Mail on Sunday newspapers.
The Swiss financial regulator Wednesday defended the rescue of Credit Suisse through a controversial takeover by rival bank UBS as the best solution with.
Switzerland's financial regulator deflected blame for the collapse of the country's second-biggest bank, Credit Suisse, saying it had been quick to respond, calling instead for more powers to take lenders to task.
Credit Suisse's chairman apologised for taking the Swiss bank to the brink of bankruptcy, as he faced shareholder fury over the demise of the once proud flagship.
Credit Suisse will face shareholder anger on Tuesday at what will be its final annual general meeting after the bank was rescued last month by Swiss rival UBS.