Credit Suisse and the Dance Around the Golden Calf

Credit Suisse and the Dance Around the Golden Calf: An important chapter in Swiss business comes to an end when the bank's shares are delisted on Tuesday. Very few institutions have weaved themselves into the country's very social… cs responsibility

Very few people know how UBS came to be. The same can't be said for Credit Suisse. The bank's founding 167 years ago by Alfred Escher, a Swiss entrepreneur, business leader, and politician, is common knowledge. Among other things, there is a large statue of him in front of the main train station in Zurich .

The large scandals of the past decade were also the result of reckless risk-taking with no sense of any kind of responsibility. It had a great deal to do with the culture −or more accurately, the complete lack of one. «The fish stinks from the head down» is a common thought that has been expressed in the past few weeks when trying to understand why Credit Suisse failed. That head not only had no competence or skill.

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