The Sunday paper did a little research and calculated that since 2007, the market value of Credit Suisse has fallen from almost 100 billion Swiss francs to 10 billion Swiss francs. During the same period, members of the board of directors and management of the group of a large bank received about 1,600 million francs in salaries and bonuses.
A nurse in Switzerland earns CHF 85,000 a year, as does a neurosurgeon.
700,000 francs.
What relation does one have to the other? The salaries of a nurse and a neurosurgeon shed light on the salaries of members of the board of directors and the executive committee of Credit Suisse. Yes, they make the CS figures three-dimensional, so to speak: in their excess and in their entrepreneurial and social significance.
The management elite managed to get lucky with big money – and at the same time plunge the bank entrusted to their skills into entrepreneurial trouble. CS should urgently seek help from the National Bank of Saudi Arabia and make it a co-owner with a 10 percent share. In the Zurich Tages-Anzeiger, banking expert Bernhard Bauhofer described the decision as “essential for survival” as Credit Suisse was “a hot potato that no one wants to touch” because “the big bank’s image is already (…) scratched in every way “.
Credit Suisse is no longer Suisse. With its roots deep in an 1848 state that is only eight years younger than modern-day Switzerland, the bank is the historic financial institution of the globally radiant Swiss Republic, now largely owned by foreigners, including the gas sheikh of Qatar.
What raises the social significance: the “Swissness” of the bank. Switzerland is proud of it – Switzerland was proud of it: a flagship bank that, along with UBS, allows the light of the Swiss financial center to shine irresistibly around the world – as a benchmark for global finance
CS, the pride of globalized Switzerland, was stolen from Switzerland, and Switzerland didn’t say a word: managers on golden parachutes drove her to embarrassment.
Should they be called criminals?
Responsibility is a big word that justifies millions and millions of salaries. But what is responsibility? The caregiver is responsible because what he does or does not do can have fatal consequences – and therefore very specific consequences for him personally. The neurosurgeon is liable because negligence can have deadly consequences – and therefore very specific consequences for him.
Do the failures of bank managers have consequences for these bank managers? You leave the executive floor unhindered – generously and super-richly rewarded.
Responsibility is a small word!
Is Credit Suisse’s recent history related to darkrooms? no The bank was ruined by devoted husbands, sweet uncles, generous godparents, good friends: people with whom you can have a good time.
The people of our world and time are from another world and time: the world and time of the global market of managers. People from a reality beyond the real reality – the reality of a nurse and a neurosurgeon.
It’s time for society to bring these otherworldly financial affairs back to the responsibility of the here and now. On what?
With the requirement to at least return illegally collected bonuses? Through and through a moral appeal – to the morale of the bankers of the COP.
But he aspires to nothing. Where the laws of world finance prevail, there is no morality. People who share our morality, in everyday life, enjoy the air of the wide financial world as managers, in which you can hardly guess morality.
The world of global money is immoral – beyond morality. Untouchable by morality.
The Credit Suisse disaster is ultimately only a symptom of this unleashed capitalism. But capitalism is existential for the freedom of society. He should not be left to himself. Politicians should set limits.
Unlimited capitalism is anti-capitalism.