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Meltdown

Scandal, Sleaze and the Collapse of Credit Suisse

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Meltdown

By: Duncan Mavin
Narrated by: Charles Armstrong
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About this listen

'This is more than a richly detailed story about the hubris, corruption and incompetence that doomed Credit Suisse; it's a stark warning to all of us about what happens when we let bankers do what they like' - Oliver Bullough, bestselling author of Butler to the World

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For centuries, Swiss banks have served the globe's wealthiest individuals, employing a strict culture of anonymity and gaining massive wealth in the process. But when Credit Suisse collapsed, the veil of secrecy came down and the world was suddenly privy to the corruption, scandal and empty hubris that keep our biggest banks alive.

It was a 166-year-old bastion of Swiss banking, amongst the most important and influential financial institutions in the world – but a veneer of high-class service disguised a darker, dirtier reality. From its sterile Zurich headquarters, the bank catered to a clientele that included dictators, drug dealers and former Nazi officers, and helped fleece its own clients out of billions of dollars. This continued for decades, even as Credit Suisse continued to expand, acquiring smaller banks and granting its own executives lucrative bonus contracts.

Meltdown is the story of how the house of cards fell apart. Bloomberg investigative journalist and bestselling author of Pyramid of Lies Duncan Mavin takes readers inside the bank’s hushed marble corridors, detailing its secretive culture and the series of increasingly selfish decisions, made by a handful of men at the top, which ultimately led to disaster.

This is the fascinating history of one of the biggest financial institutions of our times - and a thrilling exposé of the wider financial services sector - which promises to give readers a shocking and brutally honest look into a previously-unknown world of greed, lies and unrelenting human ambition.

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"A riveting autopsy of how one of banking's titans gradually, then suddenly, crumbled under the weight of its own misdeeds" - Bradley Hope, New York Times bestselling author of Billion Dollar Whale and Blood and Oil

"This financial thriller of a book offers a tantalising glimpse into the rot at the heart of one of the world's most powerful banks" - Parmy Olson, bestselling author of We Are Anonymous and Supremacy

"We're used by now to bankers behaving badly, but Duncan Mavin takes it to another shocking, anger-inducing level. Credit Suisse stood for propriety, but he shows this to be a total fabrication" - Chris Blackhurst, former editor of The Independent and bestselling author of Too Big to Jail

"A gripping story of power, greed and panic, and a humbling reminder of the enormous cost of capitalism going awry" - Josie Cox, author of Women, Money and Power

Banks & Banking Corporate & Public Finance True Crime White Collar & Corporate Crime Banking Exciting

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Critic reviews

This isn’t just a richly detailed story about the hubris, corruption and incompetence that doomed Credit Suisse, it’s a stark warning to all of us about what happens when we let bankers do what they like (Oliver Bullough, bestselling author of Butler to the World )
A riveting autopsy of Credit Suisse's dramatic downfall, Mavin's Meltdown expertly dissects decades of scandal and hubris. This meticulously researched exposé reveals how one of banking's titans gradually, then suddenly, crumbled under the weight of its own misdeeds (Bradley Hope, New York Times bestselling author of Billion Dollar Whale and Blood and Oil)
We’re used by now to bankers behaving badly, yet Duncan Mavin takes it to another, shocking, anger-inducing level. Credit Suisse stood for propriety, but starting with the Holocaust and ending with the vast bank’s sudden collapse, he shows this to be a total fabrication (Chris Blackhurst, bestselling author of Too Big to Jail and The World's Biggest Cash Machine )
Meltdown offers a gripping and meticulously researched account of Credit Suisse's downfall. Mavin uses vivid storytelling and deep insider knowledge to unravel the long history of scandal, hubris, and mismanagement that ultimately led to the bank’s collapse. This financial thriller of a book offers a tantalising glimpse into the rot at the heart of one of the world's most powerful banks (Parmy Olson, bestselling author of We Are Anonymous and Supremacy)
Through deep meticulous reporting and compelling storytelling, Mavin chronicles the gradual, quiet demise—and then shockingly sudden collapse—of what was once one of the world’s most trusted financial institutions. A gripping story of power, greed and panic, and a humbling reminder of the enormous cost of capitalism going awry (Josie Cox, author of Women, Money and Power )
Pulling no punches and naming names, Mavin lays out an almost comically scandalous story with dry humour, connecting the granular details of how it happened to the big picture - a decades-long saga of corporate folly. Swiss bank secrecy laws emerge as the villain, protecting over-rated, unaccountable executives from scrutiny of their actions until it was too late for anyone to save them from the consequences (Andy Verity, BBC Economics correspondent and author of Rigged)
Duncan Mavin’s engaging, authoritative indictment of Credit Suisse is a cavalcade of scandals, crises, and chronic management failures fueled by a pervasively rotten culture. Meltdown is a sensational page-turner, even if you sometimes feel like looking away in disgust from the illegality, amorality, depravity and greed that defined this pillar of global high finance for decades until its collapse. (Sean Silcoff, author of Losing the Signal)
All stars
Most relevant
A very interesting and detailed review of the rise and fall of one of the biggest financial behemoths in modern memory. Also a stark reminder that the phrase “too big to fail” doesn’t always ring true.

Melt Down

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straightforward and easy to understand a very interesting depiction of the characters involved and their personalities

clarity

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Superbly written and read. Sheds a whole new light on Swiss banking and the Swiss

Sheer size of the scandal and how these bankers are completely amoral in the pursuit of abject greed

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I hesitated listening to this book due to lots of poor reviews. However, it didn't disappoint and I greatly enjoyed the listen. Chronological order makes sense and ties things together neatly. Not too many lessons or takeaways but time well spent.

Brief, clear, captivating

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Fine and doubtless well researched, but it's just a bit dull...

I'd easily believe this was the unofficial history or Wikipedia history for Credit Suisse...

Reads like the wikipedia page of Credit Suisse

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