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Credit Suisse Pleads Guilty in Felony Case
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Prof. Brandon Garrett of the University of Virginia, School of Law, says the $2.6 billion settlement of Credit Suisse with the U.S. Justice Department does not provide accountability for the financial crisis. The settlement comes with an agreement to protect Credit Suisse from U.S. regulatory agencies such as the S.E.C. The Swiss bank will be allowed to conduct business as investment advisor, something not allowed if it is indicted for a criminal offense. And the focus of the investigation on secret Swiss bank accounts is unresolved, as the names of these account holders will continue to remain a secret for Swiss banks. Protess and Greenberg say if this was intended to burnish the image of the Justice Department and Attorney General Holder, after its lack of prosecution to hold individuals accountable following the 2008 financial crisis, it is not clear how long this will happen. A separate editorial by the WSJ raises the same questions.
Credit Suisse
10/22/2010
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Credit Suisse Helped U.S. Clients Hide Billions in Assets, U,S Senate Report Finds
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Credit Suisse is Facing Double-Barreled Inquiries
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Credit Suisse's CEO is Called the 'Teflon Man'
New York Times 05/19/2014
In Tax Case, Credit Suisse is Denied Milder Penalty
New York Times 05/19/2014
Wall Street Journal 05/21/2014
Credit Suisse Pleads Guilty in Felony Case
New York Times 05/19/2014
Credit Suisse and Swiss regulators
07/18/2012
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Swiss Politicians Push for Stricter Bank Capital Rules
Wall Street Journal 11/04/2013
Credit Suisse Helped U.S. Clients Hide Billions in Assets, U,S Senate Report Finds
New York Times 02/25/2014
Credit Suisse is Facing Double-Barreled Inquiries
New York Times 04/06/2014
Credit Suisse Pleads Guilty in Criminal Tax Case
Wall Street Journal 05/20/2014
Credit Suisse's CEO is Called the 'Teflon Man'
New York Times 05/19/2014
In Tax Case, Credit Suisse is Denied Milder Penalty
New York Times 05/19/2014
Credit Suisse lawsuits and legal settlements
09/20/2011
Grouped Articles
Credit Suisse Helped U.S. Clients Hide Billions in Assets, U,S Senate Report Finds
New York Times 02/25/2014
Credit Suisse Settles Mortgage Litigation for $885 Million
Wall Street Journal 03/22/2014
Credit Suisse is Facing Double-Barreled Inquiries
New York Times 04/06/2014
Credit Suisse Pleads Guilty in Criminal Tax Case
Wall Street Journal 05/20/2014
Credit Suisse's CEO is Called the 'Teflon Man'
New York Times 05/19/2014
In Tax Case, Credit Suisse is Denied Milder Penalty
New York Times 05/19/2014
Credit Suisse performance
07/29/2011
Grouped Articles
Credit Suisse Helped U.S. Clients Hide Billions in Assets, U,S Senate Report Finds
New York Times 02/25/2014
Credit Suisse Settles Mortgage Litigation for $885 Million
Wall Street Journal 03/22/2014
Credit Suisse is Facing Double-Barreled Inquiries
New York Times 04/06/2014
Credit Suisse Pleads Guilty in Criminal Tax Case
Wall Street Journal 05/20/2014
Credit Suisse's CEO is Called the 'Teflon Man'
New York Times 05/19/2014
In Tax Case, Credit Suisse is Denied Milder Penalty
New York Times 05/19/2014
Former Credit Suisse and UBS CEO, Oswald Grubel, and Swiss banking
09/24/2011
Grouped Articles
Former UBS Official Is Arrested in Tax Probe
Wall Street Journal 10/21/2013
Credit Suisse Settles Mortgage Litigation for $885 Million
Wall Street Journal 03/22/2014
Credit Suisse is Facing Double-Barreled Inquiries
New York Times 04/06/2014
Credit Suisse's CEO is Called the 'Teflon Man'
New York Times 05/19/2014
In Tax Case, Credit Suisse is Denied Milder Penalty
New York Times 05/19/2014
Wall Street Journal 05/21/2014
The Credit Suisse $2.6 billion settlement for wrongdoing with no individuals held responsible and the bank protected from action by other regulatory agencies
05/19/2014
This WSJ editorial says justice and accountability are not being well served in this case and that it is proper to hold individuals responsible. The SEC agrees not to bar Credit Suisse from acting as investment advisor and Credit Suisse is protected from action by other regulatory agencies. Brad Dugan continues to be described in the media as the "Teflon-CEO" who does not have to take personal responsibility for the Swiss bank's behaviour.
Grouped Articles
Wall Street Journal 05/21/2014
Credit Suisse Pleads Guilty in Felony Case
New York Times 05/19/2014
Credit Suisse CEO Brady Dougan Nearly Lost Job During Tax Probe
Wall Street Journal 05/21/2014
The End of the Swiss Bank Account As We Know It
BusinessWeek 05/22/2014
In Credit Suisse Settlement A Question of Justice
New York Times 05/21/2014
BNP Shows Banks Whistle Past Prosecutorial Graveyard
Wall Street Journal 07/02/2014
Credit Suisse and a U.S. Senate investigation
02/25/2014
Grouped Articles
Credit Suisse Helped U.S. Clients Hide Billions in Assets, U,S Senate Report Finds
New York Times 02/25/2014
Credit Suisse Settles Mortgage Litigation for $885 Million
Wall Street Journal 03/22/2014
Credit Suisse is Facing Double-Barreled Inquiries
New York Times 04/06/2014
Credit Suisse's CEO is Called the 'Teflon Man'
New York Times 05/19/2014
In Tax Case, Credit Suisse is Denied Milder Penalty
New York Times 05/19/2014
Wall Street Journal 05/21/2014
Credit Suisse credit ratings
06/22/2012
Grouped Articles
Credit Suisse is Facing Double-Barreled Inquiries
New York Times 04/06/2014
Credit Suisse's CEO is Called the 'Teflon Man'
New York Times 05/19/2014
In Tax Case, Credit Suisse is Denied Milder Penalty
New York Times 05/19/2014
Wall Street Journal 05/21/2014
Credit Suisse Pleads Guilty in Felony Case
New York Times 05/19/2014
Credit Suisse CEO Brady Dougan Nearly Lost Job During Tax Probe
Wall Street Journal 05/21/2014
Credit Suisse management
07/29/2011
Grouped Articles
Wall Street's Giants Try 'Flow Monster' Formula
Wall Street Journal 05/20/2013
Credit Suisse is Facing Double-Barreled Inquiries
New York Times 04/06/2014
Credit Suisse Pleads Guilty in Criminal Tax Case
Wall Street Journal 05/20/2014
Credit Suisse's CEO is Called the 'Teflon Man'
New York Times 05/19/2014
In Tax Case, Credit Suisse is Denied Milder Penalty
New York Times 05/19/2014
Wall Street Journal 05/21/2014
Credit Suisse strategy
07/29/2011
Grouped Articles
Wall Street's Giants Try 'Flow Monster' Formula
Wall Street Journal 05/20/2013
Credit Suisse is Facing Double-Barreled Inquiries
New York Times 04/06/2014
Credit Suisse Pleads Guilty in Criminal Tax Case
Wall Street Journal 05/20/2014
Credit Suisse's CEO is Called the 'Teflon Man'
New York Times 05/19/2014
In Tax Case, Credit Suisse is Denied Milder Penalty
New York Times 05/19/2014
Wall Street Journal 05/21/2014
Swiss bank Credit Suisse's $2.6 billion settlement with the U.S. Justice Department in 2014
05/19/2014
Grouped Articles
Credit Suisse's CEO is Called the 'Teflon Man'
New York Times 05/19/2014
In Tax Case, Credit Suisse is Denied Milder Penalty
New York Times 05/19/2014
Wall Street Journal 05/21/2014
Credit Suisse Pleads Guilty in Felony Case
New York Times 05/19/2014
Credit Suisse CEO Brady Dougan Nearly Lost Job During Tax Probe
Wall Street Journal 05/21/2014
The End of the Swiss Bank Account As We Know It
BusinessWeek 05/22/2014
Lack of individual accountability for banks in legal settlements- (1) the Credit Suisse and other legal settlements
05/19/2014
Linked Articles
Economist 06/13/2015
Credit Suisse Pleads Guilty in Felony Case
New York Times 05/19/2014
Questions about whether justice and accountability were accomplished in the U.S. Justice Department's settlement with Credit Suisse
05/19/2014
A WSJ editorial and a separate piece in the NYT question the assumption that justice and accountability were achieved in the U.S. government's settlement with Credit Suisse. The nagging question- is Attorney General Holder simply burnishing his image after failing to establish accountability and justice following the 2008 global financial crisis, which dealt a serious blow to America's middle class. Collective wrongdoing starts with individual actions, and holding individuals responsible establishes accountability, so that the public is protected from future actions of this nature. Somewhere since the crisis this principle has been lost in the Obama administration. A churn in management for failures is considered healthy for other American companies, and healthy for free enterprise, readers are likely to wonder why this is not so for the banks.
Linked Articles
Credit Suisse Pleads Guilty in Felony Case
New York Times 05/19/2014
Wall Street Journal 05/21/2014
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