Questions and Answers about
Bank Fail
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in HistoryWho was known as King Alfred I?
Answer: Alfred Escher helped build Switzerland’s railways and founded Credit Suisse. He was affectionately known as King Alfred I. In 2023, UBS saved Credit Suisse in a deal worth 3 billion Swiss francs ($3.25 billion). As much as the rescue would “secure financial stability and protect the Swiss economy,” it centers additional risks on one…
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in BusinessSilicon Valley Bank went bust in 2023, becoming the second-largest bank failure in US history. Which bank was the largest?
Answer: Washington Mutual, or WaMu, was a savings and loan association that collapsed in 2008 at the height of the global financial crisis. It had $307 billion in assets and was sold to JPMorgan Chase for a bargain price of $1.9 billion. The bank’s failure was the largest in US history, surpassing the previous record…
