Are bankers outside of any law?

January 13th, 2010

As we all know, our big UBS – resp. the autority of the Swiss Financial Market Supervision FINMA (bankers) – had given 255 client’s names to American autorities, this against our constitutional law about Swiss banking secret. Now a Swiss court sentence stated, FINMA resp. UBS have definitively broken Swiss law, the responsible persons are guilty.

Besides the discussion around banking secrets, UBS clients have now a legal tool against UBS.

We normal Swiss had always learned: law is law, for all. No exception.

But now the FINMA chief tells these days: we would do it again, as our bank was in difficulty and would had lost the American business.

I as a normal citizen understand: during the next bank robbery when gangsters are in difficulty against the police, it’s totally ok to shoot back for killing, as these gangsters are only protecting their prey. Or a youngster having stolen some stuff in the next market was right, as he managed / looked for / (protected) only his ’small wealth’.

The Swiss judge named this mentality as ‘very special’.

And we the normal people know now for sure: these bankers feel themselves outside of any other law than the one of big business.

So, what about the rest of this planet’s money elite?

Again, this besides all discussions around our banking secret.

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