Credit Crunch

This is the crisis of the moment. Here I review how financial institutions have dealt with it, and I’ve thrown my own wisdom in to the pot.

Categories: Credit Crunch / Trust and reputations / Zurich

8 November 2008


If waiters can say sorry, why can’t bankers?

It’s Saturday morning. I’m sitting in the Movenpick drinking coffee. I’ve been shopping in the Bahnhofstrasse. Beneath my feet is one of the biggest hordes of gold bullion in the world. Out of the window I observe the quiet orderliness of Zurich’s Paradeplatz, the hub of Swiss banking. It takes the waiter to bring my attention inside. He’s charged me for a “Gipfeli” I didn’t order. He apologies. Why, it occurred to me then, have the world’s bankers not said sorry for the credit crunch and their part in creating the mess we’re in? Read on ›