Something Is Rotten in Schmutzig Switzerland, by Natasha Wright

There are still a lot of unanswered questions concerning Swiss banks and the Nazis. From Natasha Wright at

Some well-informed analysts tend to say that Switzerland is a schmutzig country. Now we probably know why.

In a ‘business deal of the century’ brokered by the Swiss government, Switzerland’s largest bank and its financial pride and joy was acquired by its smaller rival USB for a meagre $3.2 billion.

The current affairs sections of the leading news agencies have recently been populated by the breaking news that Credit Suisse had to be sold but to the lowest bidder this time or so it seems. Though this takeover deal, brokered in such a frantic haste over the course of just a few days by the Swiss government stands in silent testimony of this colossal collapse, there is a question hovering in mid air, why did Credit Suisse have to be sold so suddenly ‘at such short (banking) notice’, given that the giant bank has existed for 166 years with a superb banking tradition among other cutting-edge world banks?

If we want to answer this question, we need to bear in mind that the bank at the moment of its acquisition had more than $100 billions in its assets so its financial balance was rather sound and particularly because it had more than $500 billion in passive capital such as real estate. Yet, recently it was sold for an obscenely low amount at about $3, 7 billion. But the real reason appears to have been the heavy pressure that the U.S. government exerted on the government of Switzerland that Credit Suisse, this steam engine of credit and paragon of superb banking reputation, had to be sold inexplicably urgently, sending shockwaves across the financial sector. A direct cause for this seemingly sudden decision was the previous collapse of two other banks: Silicon Valley Bank and Signature Bank (oddly enough, not many ordinary people had heard of those before their collapse) and an additional reason: a financial turmoil in the U.S. stock exchange.

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