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  #21  
Old 09.01.2012, 16:34
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Re: SNB chief resigns...

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One who doesn't do insider trading?

I wonder if he will now donate the profits to some charity. That will be the decent thing to do.
Keep up will ya? Hildebrand donated his CHF 75K currency gain to Schweizer Berghilfe just before Christmas. He obviously sensed the crap that was about to hit the fan.
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  #22  
Old 09.01.2012, 16:35
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Re: SNB chief resigns...

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Ok, different question - who is there who is better to replace him?

Regarding the allegations - having been in close contact with some of the wives of such "high flyers", I for one can totally believe his story about the wife having made the decision and understand that he did not reverse the transaction. He didn't want to have a a fight at home. For a Swiss guy to describe his wife as having a "strong personality" in public is pretty unusual and "Swiss privacy speak" for "if she doesn't get her own way, there is hell to pay". He also immediately forbade her from making any further transactions like that.

This whole thing was about Mr. Blocher wanting to have another stint in the limelight and make it seem like they have the people's interests at heart. That is utter BS, if anyone was to look at the personal finances of those guys, all hell would break loose. But we don't get to see those things because, oh, yes, there is such a thing as bank secrecy, something that Mr. Blocher preaches about ALL THE TIME.

About "having been in close contact with some of the wives of such "high flyers" How close

I used to have a friend in banking who delighted in driving his Porsche into his garage at high speed & braking heavily at the last minute; he used a tennis ball hanging from the ceiling on a string to time his braking.

He had a row with his wife & she moved the tennis ball nearer the end wall....
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  #23  
Old 09.01.2012, 16:36
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Re: SNB chief resigns...

I wonder how much will he be paid by RAV for 18 months
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  #24  
Old 09.01.2012, 16:38
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Re: SNB chief resigns...

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I wonder how much will he be paid by RAV for 18 months
RAV doesn't have the golden-parachute option
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  #25  
Old 09.01.2012, 16:42
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Re: SNB chief resigns...

In other news - how many of you could hold a press conference in three languages?
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  #26  
Old 09.01.2012, 16:43
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Re: SNB chief resigns...

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i wonder how much will he be paid by rav for 18 months
chf 151,200.00
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  #27  
Old 09.01.2012, 16:43
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Re: SNB chief resigns...

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In other news - how many of you could hold a press conference in three languages?
I can...in 4. Can I get the position at BNS?
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  #28  
Old 09.01.2012, 16:44
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Re: SNB chief resigns...

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I can...in 4. Can I get the position at BNS?
Maybe, please just answer this one question:

Will you put the financial well being of the state before your own greedy needs....?
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  #29  
Old 09.01.2012, 16:46
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Re: SNB chief resigns...

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I can...in 4. Can I get the position at BNS?
You need to send your application to the federal council.
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  #30  
Old 09.01.2012, 16:46
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Re: SNB chief resigns...

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Maybe, please just answer this one question:

Will you put the financial well being of the state before your own greedy needs....?
Err...let me first ask my wife before giving you an answer.
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  #31  
Old 09.01.2012, 17:04
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Re: SNB chief resigns...

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Exactly right.
When you take a job like that you have to be cleaner than clean.
The guy was a dork for either doing it or letting his family do it.
I'd be fine if only he also told me about the incoming peg-euros thing...
Not that I would have made much profit but maybe close to 1000chf
That would have been enough for closing the eyes on his wrong doings...

Yeah he's out- well deserved-
And the "charity thing" I'm quite laughing at the excuse...

If that cook who stole cheese and stuff from tesco is offering them to a charity, does that also clear him???



We should all try it: sneak the border with some undeclared goods, and, when caugh, propose to offer the profit made to a charity...


Ok good riddance, now it's the turn to firing many politicians...
Who^'s next?
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  #32  
Old 09.01.2012, 17:09
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Re: SNB chief resigns...

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Maybe, please just answer this one question:

Will you put the financial well being of the state before your own greedy needs....?
You'd have to pay me first before I would tell you my secrets of how to fix the world's economy...
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  #33  
Old 09.01.2012, 17:17
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Re: SNB chief resigns...

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Maybe, please just answer this one question:

Will you put the financial well being of the state before your own greedy needs....?
:
Not being Swiss, or always very honest (not too fussy about rules), I'm quite sure I would actually put the financial well being of the state first, if I had his position....

Simply because the salary would be high (probably well above the EF POVERTY dream line of 120K chf/year) and because that would be the responsibilities I would have accepted to get in exchange of the salary and other advantages...

I guess I have integrity and that's why im a stupid peon, a medium worker with low salary....

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  #34  
Old 09.01.2012, 17:29
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Re: SNB chief resigns...

Well the proof that people were scared shitless of his incompetence and Von Havenstein Policies, the CHF immediately shot up on value vs. the Euro. It then went straight back down, because of the SNB purchases. But I think this tells us what the world thought of this particular central banker.

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  #35  
Old 09.01.2012, 17:32
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Re: SNB chief resigns...

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Well the proof that people were scared shitless of his incompetence and Von Havenstein Policies, the CHF immediately shot up on value vs. the Euro. It then went straight back down, because of the SNB purchases. But I think this tells us what the world thought of this particular central banker.


Errr the opposite is actually true: Because people believed that the SNB would use unlimited funds to hold the peg, they did not test it (making this intervention rather cheap). Now these people think that the SNB will blink.
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  #36  
Old 09.01.2012, 17:50
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Re: SNB chief resigns...

The two SNB howlers were recommending and paying for the UBS bail out and purchasing billions of Euros back in 2010 for losses that will never be recouped.

It will be an interesting time in the Bundesrat figuring out who's next in line to run our gold reserves down even further ......
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  #37  
Old 09.01.2012, 18:53
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Re: SNB chief resigns...

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The two SNB howlers were recommending and paying for the UBS bail out and purchasing billions of Euros back in 2010 for losses that will never be recouped.

It will be an interesting time in the Bundesrat figuring out who's next in line to run our gold reserves down even further ......
I predicted he would resign - even before his silly speech on Friday.

When you look at the alternatives it doens't bode well. If we're not careful each Kanton will have its own currency - and will have custom controls at each border - roll on 1827!!
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  #38  
Old 09.01.2012, 18:55
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Re: SNB chief resigns...

The SNB says the deal, along with two other Hildebrand transactions totaling over $1.6 million, were within the rules set for senior bank officials to prevent them profiting from insider knowledge.

Makes me think . . .
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  #39  
Old 09.01.2012, 19:05
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Re: SNB chief resigns...

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The guy was a dork for either doing it or letting his family do it.
In other words, you claim to know what your wife is doing at all times. Can you get her over here, please, we'd like to talk to her. Thanks dear.

Mind you: I don't mind the resignation that much. I'm just pissedoff who profits from the manipulation.
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  #40  
Old 09.01.2012, 19:07
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Re: SNB chief resigns...

If you have a closer look at swiss law, insider trading concerns transaction on securities, options, shares.....but not operations on currencies!

With respect to swiss law there was no criminal act from ex-SNB chief.

What do you think?
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