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Credit Suisse First Boston

9 bytes removed, 21:57, 4 November 2009
{{Infobox Midpage Need Sponsor}}
== Rise History ==
CSFB had its roots in a co-operation agreement between Zurich-based [[retail]] [[bank]] [[Credit Suisse]] and Boston-based [[securities]] [[broker]] [[First Boston Corporation]] forged in 1978.<ref>{{cite web|url=http://www.workazoo.com/Employers/ViewWiki.aspx?cid=30|name=Credit Suisse Group|org=Workazoo.com|date=April 24, 2008}}</ref> CS gained a controlling stake in FB a decade later and renamed the new brokerage Credit Suisse FB. CSFB prospered during the 1990s Internet boom and in mid-2000 paid a staggering $11.5 billion for rival brokerage [[Donaldson Lufkin & Jenrette]] (DLJ), [[pricing]] DLJ [[share]]s at three times [[book value]].<ref>{{cite web|url=http://www.thedeal.com/dealscape/2006/08/this_date_in_deal_history_csfb.php|name=This date in deal history: CSFB buys DLJ|org=TheDeal.com|date=April 24, 2008}}</ref>
 
== Fall ==
CSFB's problems began soon after, in early 2001, when lead technology [[banker]] [[Frank Quattrone]] became the subject of a federal investigation into the way CSFB allocated IPO shares.<ref>{{cite web|url=http://www.lawyershop.com/news/practice-areas/criminal-law/white-collar-crimes/securities-fraud/lawsuits/credit-suisse/|name=Credit Suisse First Boston Company Profile|org=LawyerShop.com|date=April 24, 2008}}</ref> In January 2002 CSFB settled with the [[U.S. Securities and Exchange Commission]] (SEC) for $100 million over complaints brought by the SEC stemming from the probe,<ref>{{cite web|url=http://www.sec.gov/litigation/litreleases/lr17327.htm|name=SEC sues CSFB for IPO violations; CSFB will pay $100 million|org=Securities & Exchange Commission|date=April 24, 2008}}</ref> and ended further SEC probes in 2003 at a [[cost]] of another $200 million.
== References ==
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