After the turmoil of 2020, 2021 was supposed to be a year of super-sized numbers, as banks benefited from a global economic bounce. For most, it was. For Credit Suisse, it was assuredly not.
First came the collapse of Greensill Capital. Credit Suisse ran $10 billion worth of funds that invested in notes issued by the supply-chain finance specialist, which filed for insolvency in March.
Then came the shocking implosion of Archegos Capital Management.
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