Democracy Gone Astray

Democracy, being a human construct, needs to be thought of as directionality rather than an object. As such, to understand it requires not so much a description of existing structures and/or other related phenomena but a declaration of intentionality.
This blog aims at creating labeled lists of published infringements of such intentionality, of points in time where democracy strays from its intended directionality. In addition to outright infringements, this blog also collects important contemporary information and/or discussions that impact our socio-political landscape.

All the posts here were published in the electronic media – main-stream as well as fringe, and maintain links to the original texts.

[NOTE: Due to changes I haven't caught on time in the blogging software, all of the 'Original Article' links were nullified between September 11, 2012 and December 11, 2012. My apologies.]

Monday, January 09, 2012

Swiss National Bank Head Philipp Hildebrand Resigns In Wake Of Public Uproar Over Private Deals

GENEVA (AP) — Switzerland's central bank says its chairman Philipp Hildebrand has stepped down in the wake of a public uproar over his private currency deals.

The Swiss National Bank says the resignation takes effect immediately and Hildebrand would make a statement and release documents to the public.

His departure coincided with a Swiss parliamentary committee hearing, to be held Monday behind closed doors, to get answers about the deals he engaged in while leading efforts to soften the Swiss franc.

Hildebrand broke weeks of silence Thursday to deny breaching central bank rules.

Swiss media have been awash with reports about public unease over the dollar swaps that netted Hildebrand tens of thousands of dollars last year. He said he has since donated the profits to charity.

Original Article
Source: Huff 
Topics: , , ,

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)