How Swiss authorities bungled Credit Suisse oversight

Reuters exclusively reported that about six months before Credit Suisse was sold to rival UBS in a weekend rescue, the head of the Swiss central bank wanted to inject 50 billion Swiss francs ($57.6 billion) into the lender and nationalise it. But Switzerland’s financial regulator FINMA and the finance ministry opposed the idea, as did Credit Suisse’s management, the sources said. Unable to agree, Swiss authorities decided the best solution was to let the company find its own way.