The Importance of Secret Banking in Switzerland

The Swiss National Bank, Swiss Central Bank, bailing out the creditries was just extraordinarily stupid, especially creditries. They should have been clamping down on creditries a long term back or making sure there's an extra deposit. The other aspect which will really hurt the externality is to the brand image of Switzerland. And I would believe that this is being done with some sort of nudging by the central bank and it not out of, you know, pure volitions, if I may say so.