Are Swiss banks in trouble?

This video aged like wine!

One of the saddest things in this video is that the gentleman who was a whistleblower on Swiss banks had to serve time in a u.s. jail simply because he made an error in his testimony. His whistl blowing garnered BILLIONS for the u.s. government. Talk about biting the hand that feeds you.

What irony that US is ranked number 2 in the Financial Secrecy Index ahead of Switzerland who is number 3

That is a tiny fraction of the story, I like how US governments and financial institutions point fingers while they have a shitload of dirt on their own!

Most global tax evasion is now occurring in Deleware and Nevada who apparently don't have the same reporting requirements as Swiss banks

Nice video!❤️ But my mentor would always say; Desire + Motivation + Action = Success

Switzerland’s standing as a financial center is shattered. “The country will now be viewed as a financial banana republic"

Now we created a new giga bank while rescuing credit suisse. The total assets of this new bank will be somewhere around 3 times the GDP of Switzerland. European Union and the US better be prepared to help rescuing this monster next time, I seriously doubt we will be able to do it ourselves.

"Swiss bankers are going to work a whole lot harder to justify holding your cash!" Yes, they will do that to survive!!!

As a software engineer working for the financial industry in Zürich it doesn't look like this sector is in much trouble. It still pays the highest salaries here and invests a lot in modernization and digitalization.

5:45 Financial secrecy index: US world's second. They fine Swiss banks for secrecy in the bank sector but they're in second place in the same index? So it's not about secrecy, problem is "others" secrecy. They just want to take out competition, as USA is a safe haven itself.

Jean- "From a financial standpoint, you are now in heaven." Jordan- "Did you just say what I thought you said? Yes, yes!"

after that US act to force the Swiss to reveal the clients' information, the banks stoped opening accounts for Americans. The US does ride its citizens, even abroad.

fantastic report, thanks!

This aged well.

"One man's stash is many other's come up." - Swiss Banks Story As far as regulations go, they came much later as a face saver. Many new tax havens and more innovative options had already hit the business by then.

Here in northern Italy, a huge chunk of wealthy families used to put their money in Switzerland. Some to dodge taxes, some for how solid Swiss banks were and some because of the non-existent capital gains taxes, thus making it very convenient to invest through a Swiss bank account. 10 Years ago, Switzerland was pressured into abolishing bank secrecy with Italy, forcing the banks to disclose the identity of Italian nationals with accounts over there. The golden days of Europeans stashing their cash in Swiss banks are pretty much over. Nowadays everybody's pulled out of Switzerland, and headed to other safe heavens like Luxemburg of Lichtenstein.

The CEO of CS didn't have this video I guess.

well made and informative.

This video was made a year BEFORE the the current crises that is happening as of,October 8,2022..the stock of Credit Suisse is Down about 60 percent and there is talk about a pending bankruptcy......