Law professor Peter V. Kunz criticizes the Parliamentary Investigation Commission's (PUK) report on the Credit Suisse crisis, stating it failed to provide meaningful insights or solutions after 1.5 years of investigation. He argues that the report's 20 recommendations are superficial and that political reluctance to hold authorities accountable has delayed necessary reforms, leaving the banking system vulnerable to future crises.
The ICC report on Credit Suisse has been criticized as uncritical and ineffective, with expert Peter V. Kunz labeling its 20 recommendations as useless. He argues that the report absolves authorities of responsibility, particularly highlighting the failures of the Swiss Financial Market Supervisory Authority (FINMA) while acknowledging the Swiss National Bank's professionalism. Overall, Kunz believes the report wasted valuable time without exerting necessary pressure on policymakers.
Bern business law professor Peter V. Kunz has sharply criticized the PUK report on the Credit Suisse bailout, deeming its nearly 600 pages "useless and pointless." He argues that the report fails to hold authorities accountable, particularly the Swiss Financial Market Supervisory Authority (Finma), which he claims allowed mismanagement to persist. Kunz believes the report's recommendations lack pressure on politicians and suggests that the PUK's efforts were ultimately a waste of time.
The long-awaited report on Credit Suisse's collapse reveals that responsibility lies more with management than authorities. Experts argue that UBS, now too big to fail, must also be allowed to fail, emphasizing the need for better crisis management and preparation for orderly liquidation to protect the Swiss economy.
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