And even then. Little reported: Switzerland's largest private bank was forced by the government to take over its rival's assets. Why "forced"? Something something Archegos. The truth is that we don't know what UBS saw and didn't like in Credit Suisse's files, and we won't know for a long time, as the report for the investigation into what actually happened during the acquisition has been sealed for 50 years.

Suffice it to say that the debacle presents circumstantial evidence that "rich with not too much effort" might encourage dangerously laissez faire behavior.