Credit playful

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Terms and names ring in our ears: SNB and Jordan and ECB and Lagarde and Finma and of course again and again: Credit Suisse is the term and name that everything revolves around, on the front pages of the press, in the international headlines about the Swiss fiasco that makes the financial world tremble.

Credit Suisse – that is, Suisse.

Our country. In a whirlpool Attracted by a bank bearing the world-famous Swiss Seal of Approval, thus marking its business as trustworthy.

But aren’t some names missing from this confusing list? Here they are added. For more clarity.

For example, Brady Dugan or Urs Rohner, then Tijan Thiam, Thomas Gottstein and Antonio Orta-Osorio are magic names from recent CS history, each of which was larger than life at the head of the bank just a few years ago, and, above all, big on ball:

Over a decade and a half, CS bosses have raised 1.6 billion francs.

The bank is now due to be “stabilized” by the Swiss National Bank for 50 billion francs, which is said to be encouraging. The appropriate word would be “saved.”

From whom exactly? From the Swiss nation! So from the people!

Shareholders in America and Arabia breathed a sigh of relief.

It will be a very, very, very long time before the second largest bank in the Swiss financial center can again claim a first-class international reputation. Even if there is enough money in the cash register:

Credit is playful.

Miss Credit Suisse.

But perhaps UBS will choke on the venomous bite.

What worries about all this and what is connected with all this is the appointment: Suisse – Switzerland!

Yes, Switzerland also suffered from the fiasco caused by the top management in CS: the Confederation – to avoid the shabby term Suisse – was greatly damaged by financial managers.

money manager? Wouldn’t a mercenary leader be more appropriate? They led the once noble bank to adventurous battlefields. They dragged the former conservative financial institution into risky skirmishes. They went for easy wins. They assumed. They failed to control the dubious business. And even criminally significant operations are allowed.

And then they left, pockets full of millions of salaries and bonuses.

1,600,000,000 francs.

leading leaders. This is their claim. Bank executives transfer unimaginable amounts of money. And they justify the huge sums that they collect themselves. To justify their terrible actions, they keep trying to add a term to the terms and names that are buzzing in our ears:

Responsibility!

But where are they responsible for the collapse of the financial institution they “manage”? Shouldn’t they be called in to explain what they are doing, which is basically letting go?

The state retains the COP. That is why it is now up to him to find out how it could have come to this. From the lips of responsible persons. For example, before a parliamentary commission of inquiry.

Anyone who damages the name of Switzerland must answer questions before Switzerland.

Source: Blick