Yesterday, Credit Suisse lost 7% on Nasdaq. The bank, based in Zurich, reported a net income fall of 24 percent, to 5.1 billion francs, compared with 2009. Other Swiss banks are also in a bad situation. Having revealed the names of their foreign clients to the tax authorities, they have nothing to offer. British banks have problems with new regulations. Israeli banks are not exploiting this opportunity.
Friday night Update: Mubarak left Cairo and the next minute, the Swiss announced that they are freezing all accounts of Mubarrak and his relatives and friends. I recommend to all Arab dictators, kings, ministers or just corrupt officials to deposit their savings with Israeli banks.
We are most discrete and never, never, never betray our friends and allies.