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Monday, 9 January 2012

Swiss National Bank Chairman, Philipp Hildebrand, resigns with immediate effect

This news come together with a news of  another shakedown of yet another Swiss private bank by US officials. This time it is the oldest Swiss bank Wegelin.  Apparently this was the leverage US used against the bank,and  the private Swiss bank sector had enough.

Until recently, Swiss banks were famous for their banking privacy. US managed a shakedown of UBS bank last year, and continue to use all means, legal and barely, to gain insider information.

This hurt Swiss banking sector enormously and they showed the person who was suppose to protect them on exit.

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