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A traffic light signals green in front of the logos of the Swiss banks Credit Suisse and UBS in Zurich, Switzerland, March 19, 2023. Michael Buholzer/AP hide caption

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Michael Buholzer/AP
Karen Bleier/AFP via Getty Images

A Great Recession bank takeover

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Photo taken on December 6, 2008 shows the logo of Credit Suisse at one of the Swiss bank branches in Zurich. FABRICE COFFRINI/AFP via Getty Images FABRICE COFFRINI/AFP via Getty Images hide caption

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FABRICE COFFRINI/AFP via Getty Images

The demise of Credit Suisse

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The First Republic Bank sign is shown in Oakland, Calif., in front of one of the lender's offices on March 16, 2023. First Republic shares continued to fall on Monday amid concerns about its financial health. Justin Sullivan/Getty Images hide caption

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Justin Sullivan/Getty Images

Traders work on the floor of the New York Stock Exchange in New York City on Tuesday. Stocks tumbled on Wednesday amid fears that worries about the banking system were widening to other parts of the world. Timothy A. Clary/AFP via Getty Images hide caption

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Timothy A. Clary/AFP via Getty Images

Stocks drop as fears grow about the global banking system

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A Credit Suisse bank branch seen in Geneva. Three former bankers have been arrested in connection with accusations of fraud in Mozambique. Igor Golovniov/SOPA Images/LightRocket via Getty Images hide caption

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Igor Golovniov/SOPA Images/LightRocket via Getty Images