Credit Suisse investors slam failures as chairman apologizes

Shareholders of Credit Suisse have upbraided its leadership for years of mismanagement, scandal and obfuscation that sent its stock price into the gutter. Executives at the annual shareholder meeting Tuesday apologized and insisted the only way forward was a government-engineered takeover by rival UBS. A largely polite but sometimes boisterous, emotional and angry mood pervaded at what's likely the last annual meeting in the bank's 167-year history. One shareholder wore a red tie “to represent the fact that I and plenty of others today are seeing red.” Credit Suisse Chairman Axel Lehmann acknowledged the shock and anger people felt and said “the bank could not be saved.”