How did Credit Suisse become the most scandal-ridden bank of all time?

Swiss banking has long been synonymous with secrecy, a harbinger of two things in the financial world: opportunity and risk. And Credit Suisse struggled to handle this balancing act for years, leading to its spectacular implosion in 2023. Switzerland’s second largest bank had long been unscrupulous about housing ill-gotten wealth. Its bankers looked after Nazi loot and did business with “kings of kickbacks,” even collapsing the economy of Mozambique and employing private investigators to spy on its own employees. Joining us on this week’s Whale Hunting is investigative reporter Duncan Mavin, who sits down with Bradley to discuss the long string of scandals that preceded Credit Suisse’s collapse, the surprising touch paper for its disintegration, and a well-hidden industry secret: that bankers and hedge-funders do very little actual banking.Mentioned in this week’s episode: Duncan Mavin’s new book, Meltdown: Scandal, Sleaze and the Collapse of Credit Suisse His book about the collapse of Greensill: Pyramid of Lies: The Prime Minister, the Banker and the Billion-Pound Scandal Rob Copeland’s book, The Fund: Ray Dalio, Bridgewater Associates, and the Unraveling of a Wall Street Legend Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://brazen.fm/plus/

Om Podcasten

This is WHALE HUNTING, a weekly podcast that pulls back the curtain on the hidden worlds of money and power, hosted by investigative journalists Tom Wright and Bradley Hope. Previously long-time reporters for the Wall Street Journal, Tom and Bradley now run Project Brazen, a journalism studio that’s published stories on everything from US Navy corruption to spycraft in Silicon Valley and embezzlement at the heart of Spain’s royal family.  Now, on the Whale Hunting podcast, you can join them as they share what’s got them talking this week, from the headlines to underworld gossip. Each episode will offer something different, but you can expect obscene tales of corruption, insights on the bizarre habits of billionaires, and conversations with reporters, spies, hostage negotiators, cops, authors, and the occasional criminal. Think of it as dropping in on the watercooler chat at Project Brazen’s office.  So join us. Subscribe to Whale Hunting, and find out how the world really works.  For more, or to sign up to our newsletter, visit whalehunting.projectbrazen.com. Support our show by becoming a premium member! https://brazen.fm/plus/