Meltdown

Scandal, Sleaze and the Collapse of Credit Suisse

Duncan Mavin

$46.99

Hardback

Forthcoming
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English

Macmillan Business
11 February 2025

Political corruption; Corporate finance; Banking

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

By: Duncan Mavin
Imprint: Macmillan Business
Country of Publication: United Kingdom
Dimensions: Height: 234mm, Width: 153mm,
ISBN: 9781035037469
ISBN 10: 1035037467
Pages: 336
Publication Date: 11 February 2025
Recommended Age: From 18 years
Audience: General/trade , College/higher education , Professional and scholarly , ELT Advanced , Primary
Format: Hardback
Publisher's Status: Forthcoming

Duncan Mavin is the author of Pyramid of Lies: Lex Greensill and the Billion Dollar-Scandal and a journalist at The Washington Post, based in the UK. He was previously a reporter for The Wall Street Journal, working in Asia, the US and across Europe, and a chartered accountant in the City. His previous book, Pyramid of Lies, was a critically acclaimed bestseller. It was one of Waterstones' political books of the year for 2022 and an Observer book of the week. It was excerpted in The Times, the Mail on Sunday and the Australian media. He has appeared on several radio and television shows, as well as at literary festivals, to discuss the book and the fallout of the Greensill scandal it describes. The book has been optioned for both documentary and dramatic rights.

Reviews for Meltdown: Scandal, Sleaze and the Collapse of Credit Suisse

Unputdownably delicious . . . the British version of Bad Blood . . . [but] better -- The Sunday Times, on Pyramid of Lies Terrific . . . shows the emptiness behind the bombast -- Nick Cohen, The Observer, Book of the Week A meticulously researched and enjoyably lively account -- The Daily Telegraph, on Pyramid of Lies Forensic and riveting -- The New Statesman, on Pyramid of Lies An incredible book, transforming a complex financial scandal into a rich character drama -- Bradley Hope, co-author of New York Times bestseller Billion Dollar Whale, on Pyramid of Lies Quite simply, one of the best books of investigative journalism I have ever read. Duncan Mavin is a natural story-teller and a brilliant sleuth -- Matthew d’Ancona, author of Post-Truth, on Pyramid of Lies Leaves little doubt that much is indeed wrong in the excessively close relationship between some financiers and politicians . . . [who] stood to gain millions of pounds -- Simon Clark, author of The Key Man, on Pyramid of Lies Mavin expertly demystifies the rise and fall of Greensill Capital and weaves an intriguing tale at the cross section of sleaze, power and greed at the heart of UK politics and global finance. A fascinating - and prescient - read -- Karl Holbrook, Executive Editor, Daily Express, on Pyramid of Lies The extraordinary story of Greensill’s rise and collapse is a microcosm of global finance in the last decade . . . a keen eye for the colourful - and at times absurd - human drama -- Peter Thal Larsen, EMEA Editor Reuters Breakingviews, on Pyramid of Lies The definitive account of the Greensill Capital’s rise and spectacular meltdown . . . and a searing inquisition into the political connections that make it all possible -- Mary Childs, cohost of NPR's Planet Money and author of The Bond King, on Pyramid of Lies A classic cautionary tale, as fun to read as it is disturbing. Meticulously reported and brilliantly narrated -- Katherine Bell, formerly Editor in Chief, Quartz and Barron’s, on Pyramid of Lies Mavin expertly unfolds a searing, unflinching, incisive, and definitively reported narrative on one of the great financial scandals of our time and the wreckage left in its wake . . . a must-read cautionary tale -- Sean Silcoff, co-author, Losing the Signal: The Spectacular Rise and Fall of BlackBerry, on Pyramid of Lies A keen eye for the colourful and at times absurd human drama -- Reuters, on Pyramid of Lies Powerful -- Money Week, on Pyramid of Lies Mavin knows how to keep you hooked . . . gripping -- Financial World, on Pyramid of Lies