Credit Suisse and Deutsche Bank are reportedly on the verge of collapse. They have 2.7 trillion in assets under management between them. It’s three times the assets of Lehman at the time of the collapse.
On 15 September 2008, Lehman Brothers, a bank considered ‘too big to fail,’ filed for insolvency. It was the single largest bankruptcy filing in the history of the US. At the time, the bank had $639 billion in assets and $619 billion in debt.
Credit Suisse and Deutsche Bank are too big to fail. Some say Deutsche Bank will be okay, but Credit Suisse is the one that is in big trouble.