March 03, 2009

Classy Solidarity

Oswald Grübel, the new CEO of UBS, the Swiss bank that, like many of its Atlantic peers, exists today only thanks to generous public assistance that pays for its former recklessness, earned ca. $20,000 on his first two days on the job. His pre-bonus annual "compensation" is CHF 3 million. Some Swiss politicians toy with the idea of capping Grübel's salary at the subsistance level annual sum of CHF 850,000 (ca. $650,000). Asked why he wouldn't accept such a modest deal, Grübby explained.
I could have worked for free. I don't need these millions. But I can assure you that it would have offended even more people if I worked without a salary. (Le Matin)
The sacrifices rich people sometimes make for the sake of their class are humbling!

In case you're wondering why this news item, that has nothing to do Palestine, three reasons. First, because it is interesting. Second, it has a lot to do with Palestine, even if the connection is indirect. Swiss banks manage, according to the interview, a third of the private wealth of the world. These fortunes, oil fortunes, armament fortunes, mining fortunes, real estate fortunes, etc. are made with blood, and Palestine is one of indirect "theaters" of that bloodletting.

And third, we believe all bankers ought to be Jewish. This Grübby guy with his snot-nosed Umlaut rubs us the wrong way. Indeed the whole Swiss banking industry rubs us the wrong way. Why can't they appoint Elisha Wiesel, the son of Elie Wiesel, to run UBS? That takhshit has on his resume working as a managing director at Goldman Sachs, a job he secured because of his deep understanding of all things financial, nothing to do with his father's name. Elisha proved his acumen by investing all of daddy's Holocaust ra-ra foundation monies with Bernie Madoff. It was hard work getting Madoff to take the money, rubbing elbows until the suit had to be patched, days of inane golf playing, munching sushi way beyond the onset of nausea. What more qualifications do they want? The Swiss show their rank antisemitism by not letting their banks be run by Jews!

(PS. apparently the Wall Street Journal decided that information about poor Elisha was too touchy. But Google cache still has it.)


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