Switzerland's 2008 Banking Crisis: The Fall of UBS

In this episode, Lucas and Luna explore the 2008 financial crisis that nearly brought down UBS, Switzerland's largest bank. They discuss the aggressive expansion under CEO Marcel Ospel, the toxic subprime mortgage exposure, and the unprecedented government bailout orchestrated by Finance Minister Eveline Widmer-Schlumpf. The conversation covers the political fallout, including the 'Lex USA' agreement that allowed UBS to hand over client data to American authorities, cracking Swiss banking secrecy. They also touch on the aftermath: the 'too big to fail' regulations, the resignation of Philipp Hildebrand, and the long-term damage to Switzerland's reputation as a discreet financial haven. Specifics include the role of the Swiss National Bank, the creation of a bad bank, and the cultural shift in Swiss banking. #Switzerland #UBS #2008FinancialCrisis #MarcelOspel #EvelineWidmerSchlumpf #PhilippHildebrand #LexUSA #SwissBankingSecrecy #SubprimeMortgage #TooBigToFail #SNB #BankingCrisis #Finance #SwissNationalBank #GlobalFinancialCrisis #History #FexingoHistory #Banking #SwissHistory #RTlischwur Keep every episode free: buymeacoffee.com/fexingo