Swiss Banking Industry Shaken by Credit Suisse Fallout.

The UBS takeover of Credit Suisse has raised concerns about Switzerland's identity as a global financial center and its dependence on a single banking behemoth. The merged bank could be too big to fail and take more risks, knowing that the Swiss state cannot abandon it. Switzerland's reputation as a secret haven for ill-gotten or laundered money has also been a concern. The federal government's hands-off approach to banks like Credit Suisse has been criticized, and the Credit Suisse rescue is a stain on regulators and the idea that Swiss banks are rock solid and safe.