Thursday, October 04, 2001

Remora
Interesting article about the fall of SwissAir from a Swiss point of view:
Largeur.com [ Article - ATTACK ON SWITZERLAND - Les banques et la fin de Swissair ]

Last graf, explaining that Swiss banks, even though profitable, decided to pull the plug on their nation's airline, sounds an interesting premonitory note:

A la place des banques (grandes et petites, al�maniques ou genevoises), je ne me r�jouirais pas trop. Le flinguage de Swissair �tait pratiquement achev� quand est intervenue la catastrophe du 11 septembre. On sait qu'elle a d�clench� chez les Am�ricains une crise de phobie du secret bancaire. On a vu vendredi le Conseil de s�curit� de l'ONU voter au pas de course et � l'unanimit� une r�solution demandant la transparence des op�rations bancaires pour lutter contre le terrorisme. Si cette fureur inquisitoriale ne retombe pas comme un souffl� � ce qui est possible �, la banque suisse sera appel�e � vivre des heures tr�s sombres.

If I were in the banks' place (the small ones and the great ones, german or genevan), I wouldn't be celebrating. The wasting of Swissaire had practically been achieved when the catastrophe of the 11th September happened. As we all know, that launched, among the Americans, a veritable phobic reaction to banking secrecy. Friday the UN Security council voted as an agreed upon item, unanimously, a resolution demanding transparency in banking operations for fighting against terrorism. If this inquisitorial furor doesn't pass like a breath of air -- which is possible -- the swiss banking establishment will be called upon to lives some pretty dark hours.

No comments:

Pasts that could have been - the Marxist who helped found the Republican party

  The Trajectory of the Republican party is a sad thing. It is now Trump's plaything. But did you know - kids out there - that one of th...