£55bn withdrawn from Credit Suisse before collapse

This is so far from true. CS stock value has been in a consistent severe downtrend since 2007, the failure of CS has been in discussion for years. Their earning reports have been severely negative for quite a while as well.

Est. Peak CS Share Values by date:

5/07 - $77 9/09 - $58 2/11 - $46 10/13 - $33 07/15 - $29 01/18 - $20 01/20 - $14 01/22 - $10 followed by a consistent decline to the end of 02/23 closing the month at $3.

Bank run and collapse didn't even happen until March.

The government stepped in because CS is a Globally Important Bank, meaning the failure could have a severe economic impact across the globe.

The failure of credit suisse was by no means solely caused by a bank run. This has been coming for a long time.

/r/worldnews Thread Parent Link - bbc.co.uk