The financial, if not more broad socioeconimic, issues arent particularly Swiss. I dont understand what is different to between the Swiss and any other countries finance industry. "Too big to fail" is a systemic issue. Letting the "whales" die would provide skilled workers for other industries. The Swiss should transition to an economy much less dependent on the financial sector. They have high average of talent and skill and can demonstrate to make money with "true" innovation. Most of fintech isnt really impressive to be honest, I seen more sophisticated engineering in other industries.

Without having much clue about the financial sector, I wouldnt say its sure we can blame Credit Suisse failure on internationalization and high risk apetite. We live in different times than 1900, likely one of the most turbulent ones to come with further digitalization, AI, (anti-)globalization and populism.

Btw one of the biggest conundrums to me as a Swiss citizen is how we can sustain this high price (&salary) levels depite market pressure from bordering countries. Will probably never understand it.