Credit Suisse reveals $7 billion loss for 2008

Credit Suisse's fourth-quarter earnings confirmed the picture of a tough end to last year -- particularly within investment banking -- with a loss on the high side of expectations of SFr6 billion ($5.2 billion) in the final three months, leading to a full-year shortfall of SFr8.2 billion ($7 billion). The fourth quarter loss was more than four times as large as the third quarter loss of SFr1.3 billion and compared with a SFr540 million profit in the fourth quarter of 2007 and a profit…