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"Between January and March, people did nothing because of the banking collapse.
Partly because of the banking crisis, Britain had fallen not merely into a recession but a longer-term depression.
"The country is still functioning, and it's largely because of the banking sector," said Hisham Ezz Al-Arab, chairman of the Commercial International Bank headquartered in Cairo.
"All of them left prematurely, all of them left in circumstances which they didn't want and all of them left because of the banking fiasco".
Wealthy families from Europe are looking to set up shop in Asia because of the banking situation in Switzerland, Luxembourg and Liechtenstein, said Donald Riegger, an expert on family offices at Deloitte & Touche in Singapore.
The Federal Reserve was created, in part, because of the banking panic of 1907 and unease that the crisis was solved only through the intervention of a private financier, J. Pierpont Morgan.
Similar(48)
"The Fed is concerned because of the banks' exposure.
"This is because of the banks' need to recapitalise," says Mr Roskilly.
Mr. Mack did not take a bonus because of the bank's mortgage losses.
Bank stocks tend to fall when investors are concerned about Europe because of the banks' investments there.
Still, she said she rated Credit Suisse shares at accumulate because of the bank's "extraordinary private banking operation".
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com