Camp was already parked in his seat by the window in our seaside pub, focused on his small screen like a teenager. Maybe his bookstore is financed by Credit Suisse?
‘Hey Camp what do you think of the implosion and subsequent acquisition by its rival of one of Switzerland’s and indeed the world largest banks? Was Credit Suisse Too big to fail?’
‘That’s an oxymoron right there my friend. It should be: too big to function, too big to trust, too big to protect, too big to be responsible. As it turns out the Swiss taxpayers are on the hook for billions of dollars of unconditional bailout money and guarantees.’
‘You nailed it: Too big to trust. On the other hand, I have to trust my bank teller who knows everything about my financial situation at the click of a mouse. They know more than my family and sometime even myself, like: Are you aware that your account is overdrawn or your term deposit needs to be renewed?’Continue reading