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The documentary "Game Over - The Fall of Credit Suisse," directed by Simon Helbling, explores the bank's downfall, highlighting a pervasive lack of accountability among its leaders. Interviews with influential figures, including Swiss Confederation President Karin Keller-Sutter and UBS CEO Sergio Ermotti, reveal insights into the culture of denial that contributed to the bank's failures. The film also addresses the bank's controversial role in the Mozambique loans and the ongoing plight of a former employee facing legal repercussions.
Richard Chandler expresses deep disdain for Rainer E. Gut's leadership at Credit Suisse, criticizing the shift in culture and the prioritization of quick profits over loyalty. He reflects on the bank's decline, particularly after the Archegos and Greensill crises, and calls for Switzerland to hold UBS accountable as it integrates Credit Suisse. Chandler, who retired at 68, remains critical yet loyal to the banking sector, emphasizing the need for responsibility in the new banking landscape.
A Credit Suisse veteran, Richard Chandler, is calling for the return of bonuses awarded to executives despite significant losses, expressing his frustration over their negligence. Having worked at the bank for 53 years, he highlights a culture of prioritizing quick profits and criticizes past leadership for their role in the bank's decline. Chandler, who praised former CEO Oswald Grübel for his understanding of banking, began to lose faith in the institution following the Archegos and Greensill scandals.
Richard Chandler, the longest-serving employee at Credit Suisse, reflects on his 53 years with the bank, expressing anger at former executives for their negligence and the culture shift towards profit over loyalty. He highlights the detrimental impact of investment banking on the bank's values and calls for accountability as Credit Suisse faces its decline. Chandler's career, marked by scandals and crises, culminated in his retirement as he could no longer witness the bank's downfall.
The documentary "Game Over - The Fall of Credit Suisse" premiered in Zurich, showcasing the bank's dramatic collapse. Directed by Simon Helbling and based on investigative work by Arthur Rutishauser, it features exclusive interviews and insider accounts, revealing the depths of a major financial scandal. The film will hit Swiss cinemas on March 27, 2025, accompanied by a book and a round-table discussion featuring notable figures from the banking sector on April 2, 2025.
"Game Over" premiered in Zurich, detailing the downfall of Credit Suisse, starting from the Chiasso scandal in the 1970s. The film critiques a series of greedy managers, highlighting their role in the bank's collapse while also showcasing the victims of its corrupt practices, including the Mozambique Tuna bonds scandal. Richard J. Chandler, a long-time employee, defended the bank's Swiss operations, suggesting not all was negative.
"Game Over," a film about the collapse of Credit Suisse, premiered in Zurich, showcasing the dramatic downfall of the bank and its executives. While the movie highlights the greed and mismanagement of CS leaders, it leaves unanswered questions about the lack of accountability and the role of Swiss authorities during the crisis. The film, financed by Netflix, combines thrilling historical insights with a critique of the banking sector, yet rushes through key events leading to CS's demise.
Oswald Grübel, a prominent figure in Swiss banking, criticizes the idea of capping banker salaries, arguing it undermines market dynamics and could lead to less competent leadership. He praises the swift merger of Credit Suisse with UBS as a necessary move for the financial center, while expressing concern over the public's lack of awareness regarding the importance of Switzerland's financial sector. Grübel also comments on geopolitical issues, including Donald Trump's tariff policies, and warns against closer ties with the EU, emphasizing the need to maintain Switzerland's neutrality.
A fine must be proportionate to the offense and signal potential leadership changes at UBS, which may need a thicker capital base to maintain market confidence. The rise of artificial intelligence poses cost pressures and job losses in banking, while younger clients may prefer AI for investment advice. Concerns about Switzerland's financial center stem from its proximity to the EU, risking the loss of significant foreign assets and weakening the Swiss franc. Effective risk monitoring and accountability in bank management are crucial to prevent future crises, with calls for stronger regulatory powers for FINMA to protect the financial sector.
Credit Suisse's management faced turmoil as it attempted to restructure amid significant financial losses and a massive cost-cutting program. CEO Axel Lehmann and Ulrich Körner aimed to transform the investment banking division into an advisory service, but internal conflicts and a lack of transparency led to a plummeting share price and fears of a bank run. Key figures, including Michael Klein and Blythe Masters, were embroiled in conflicts of interest, complicating the bank's recovery efforts.
Oswald Grübel
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the fall of credit suisse a documentary on mismanagement and accountability
United States Dollar
Credit Suisse Strategic Income I
Deutsche Bank Money Market PP
MOZ
USA
CHE
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FIFAX Abp
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documentary explores the rise and fall of credit suisse in zurich premiere
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documentary exposes downfall of credit suisse and its greedy management
Mozambican Metical
Swiss Franc
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Credit Suisse Strategic Income I
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Netflix, Inc.
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Matthew Jordan
Lukas Mühlemann
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banking leader critiques wage cap and highlights importance of financial center
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credit suisse faces turmoil amid leadership changes and strategic failures
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Ulrich Körner
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07:09 16.03.2025
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