Joining the staff of Elizabeth Warren (Doonesbury)

(We normally don't do senior citizen jokes, but there you have it:) 

(We may need glasses to read that, don't we?)

Pure speculation (Swiss for beginners)

Philipp Hildebrand, the CEO of the Swiss National Bank,  had traded on the foreign exchange markets a few days before his bank had forced a peg of the Swiss Frank with the EUR that would guarantee an enormous profit to himself personally. No, wrong. It turns out, it was only his wife Kashya  --- nice name, boobs, attractive, a former model perhaps, no, just a former foreign exchange (FOREX) trader, running an art gallery now, Kashya, who knew nothing of her husband's plans to peg the Swiss Frank to the EUR at 1.20, and who, by exchanging enormous amounts of Swiss Franc at the right time, would make an enormous trading profit. Note that we don't use the word "speculation", the word "speculation" has been defenestrated, even here in France it's "trading" now (imagine the French pronunciation), since "speculation" triggers the wrong instincts --- instincts that were already abrogated by Queen Victoria, her of the Victorian age, the woman who famously informed her cabinet that a "wife knows everything her husband knows." So it was only Kashya, and it was only a matter of convenience that she did use her husband's account since the poor thing did not have a trading account in her own name, but it's clear that it was her, and not Hildebrand, who did the trade, since she, as a FOREX trader, knows the future.

Kashya and Philipp Hildebrand, note the plant in the background

And the press of the Free World is eating this up as if it were Yorkshire pudding.

Imagine you're writing a movie script. What's next?

A missing email perchance, that one particular email mysteriously absent from the records that the Swiss National Bank supplied to some thorough investigator who had been instituted to go to the bottom of this and who went there, and could not see anything wrong since the missing email was missing? Or was it somebody else, a highly-payed person (he/she) from a worldwide accountant firm with an interminable name? Like PriceWaterhouseCoopers? Yes, that's it, PwC. PwC, which failed to spot an accounting error of 54.5 billion EUR in the accounts of the Deutsche Hypobank only 6 weeks ago?  The largest accounting error in the history of the planet? That's the ticket if we need somebody to go Santorum.

And now what? Somebody's dropping a glass, it shatters, and Colombo has a heureka moment? Somebody's whispering in the dark? Somebody's impersonating the dog that didn't bark in the dark?

We don't know. What we do know, however, is that the missing email resurfaces, reappears as mysteriously as the account of Hildebrand's trading account itself had resurfaced (which it should not have, since there's the Swiss banking secret, and furthermore, it was sheer coincidence that Hildebrand's wife did trade in her favor on the FOREX market etc etc, it's so unfair).

Queen Victoria

Now, it is now that the script writer reaches the delicate point where he has to go into the finer points of the matter, for which he has the internet here.

You get the gist. Everything is OK. Hildebrand's story is consistent. There's just one minor problem. There was another email, or phone call, or whatever, from Hildebrand, to his bank, to the effect that the last trade was OK (it will never happen again, but the last trade was OK), and that it was OK to "augment" this trade (so as to enlarge the position that led to the profit).

Sarcasm is the lowest form of wit, some wit once observed, but that's the best we can do. Hildebrand stepped down yesterday. Life's unfair.

 Relax. Here's a picture from a better Swiss scene:

View of the Valais (Wallis) valley, Switzerland, 2012

A lesson in bureaucratology (Sacha)

Senior moment - A 98 year old woman in the UK wrote this to her bank:

Dear Sir,

I am writing to thank you for bouncing my cheque with which I endeavoured to pay my plumber last month. By my calculations, three nanoseconds must have elapsed between his presenting the cheque and the arrival in my account of the funds needed to honour it. I refer, of course, to the automatic monthly deposit of my Pension, an arrangement, which, I admit, has been in place for only thirty eight years. You are to be commended for seizing that brief window of opportunity, and also for debiting my account £30 by way of penalty for the inconvenience caused to your bank.

My thankfulness springs from the manner in which this incident has caused me to rethink my errant financial ways. I noticed that whereas I personally attend to your telephone calls and letters, but when I try to contact you, I am confronted by the impersonal, overcharging, pre-recorded, faceless entity which your bank has become. From now on, I, like you, choose only to deal with a flesh-and-blood person. My mortgage and loan payments will therefore and hereafter no longer be automatic, but will arrive at your bank by cheque, addressed personally and confidentially to an employee at your bank whom you must nominate. Be aware that it is an offence under the Postal Act for any other person to open such an envelope.

Please find attached an Application Contact Status which I require your chosen employee to complete. I am sorry it runs to eight pages, but in order that I know as much about him or her as your bank knows about me, there is no alternative. Please note that all copies of his or her medical history must be countersigned by a Solicitor, and the mandatory details of his/her financial situation (income, debts, assets and liabilities) must be accompanied by documented proof. In due course, I will issue your employee with PIN number which he/she must quote in dealings with me. I regret that it cannot be shorter than 28 digits but, again, I have modelled it on the number of button presses required of me to access my account balance on your phone bank service. As they say, imitation is the sincerest form of flattery. Let me level the playing field even further. When you call me, press buttons as follows:

1. To make an appointment to see me.
2. To query a missing payment.
3. To transfer the call to my living room in case I am there.
4. To transfer the call to my bedroom in case I am sleeping.
5. To transfer the call to my toilet in case I am attending to nature.
6. To transfer the call to my mobile phone if I am not at home.
7. To leave a message on my computer (a password to access my computer is required.
A password will be communicated to you at a later date to the Authorized Contact.)
8. To return to the main menu and to listen to options 1 through to 8.
9. To make a general complaint or inquiry, the contact will then be put on hold, pending the attention of my automated answering service. While this may, on occasion, involve a lengthy wait, uplifting music will play for the duration of the call.

Regrettably, but again following your example, I must also levy an establishment fee to cover the setting up of this new arrangement.

May I wish you a happy, if ever so slightly less prosperous, New Year.

Your Humble Client

History of the world, part I — the couch

When I was young we would spend the evenings at the central table of the living room and listen to the radio.

Then TV came. It arrived in Germany in 1956. We did not get one immediately, but were invited by richer friends to admire theirs. Joint TV watching became very popular, and very cosy, since everybody got a couch.

The couch appeared in the showrooms together with the TV. We went window-shopping a lot and always spent some time gawking at couches. My parents would teach me about good taste. Scandinavian style, that was good taste. We never really got a couch, just some sort of bench that could double as a bed. But the central table disappeared anyhow.