Politicians should keep bankers on the short end of the stick

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The top bankers have done a great job. Negative headlines have followed negative headlines in recent years. But the collapse of Credit Suisse ended Mr. and Mrs. Swiss: confidence in the Swiss financial center is gone.

This is the conclusion of a representative survey by the opinion research institute Sotomo, commissioned by SonntagsBlick, with 7407 participants from French-speaking Switzerland and German-speaking Switzerland. According to this report, no less than 71 percent of the Swiss no longer trust bankers. Women are slightly more suspicious than men, young people even more skeptical than the older generation.

Freisinn has completely lost confidence in banks

The political camps are astonishing: the loss of confidence was greatest among voters of the FDP, traditionally close to the banks, at 75 percent. The values ​​for supporters of the centre-left are lower. The loss of confidence is then greater in the SVP. Outgoing SVP finance minister Ueli Maurer (72) had just pitted himself against the CS bankers to the end.

Enough is enough. Now politicians must act and put an end to the activities of the top bankers. For legal reasons, CS bankruptcies cannot be held financially liable – even though 96 percent of all respondents would like to see this. Politicians should at least work up the bank’s quake neatly. True to the motto: something like this must never happen again!

Politicians must tighten the screw

86 percent of those questioned advocate a parliamentary committee of inquiry (PUK). Here, too, approval runs across all party lines, with supporters of the already bank-skeptical Social Democrats and Greens being a bit stricter than those of the Conservatives.

But it is already clear to the survey participants who is responsible for the disaster: they do not see the primary responsibility with politicians or the regulators, who only intervened at the last minute. On the contrary, the behavior of the CS managers angers them: 77 percent of those surveyed cited the mismanagement of the CS management as a cause for anger, as they were able to answer multiple times.

A large majority advocates a ban on bonuses

Numerous demands have also been made in parliament to put a stop to the risk culture of banks. There is a lot of support for this from the population: two thirds of the Swiss advocate a ban on bonuses for local systemically important banks.

With 83 percent, most approval comes from the ranks of SP voters. But 68 percent of SVP supporters are also in favor of it. Less than half belong only to the FDP sympathizers: 38 percent.

“I have never seen such unanimous answers,” says Sotomo director Michael Hermann (51). “Especially the unanimous demand for financial liability of those responsible is impressive. It shows the stark contrast between the self-perception of those responsible for CS and the mood of the population.”

Top bankers in Switzerland will have to dress warmly in the future. The days of empty political threats are probably over.

Source:Blick