The classic Christmas movie, It’s a Wonderful Life, is the easiest way to understand the concept that otherwise solvent banks can be destroyed by a crisis of confidence. The likely eventual happy ending does not mean there won’t continue to be particular pressure on some banks and the markets.
Saudi National Bank Chair Quits After Comments Helped Push Credit Suisse Into Tailspin
March 27, 2023
The chairman of Credit Suisse’s largest shareholder helped trigger a calamitous drop in share price
