Swiss National Bank chief Hildebrand resigns amid uproar over private dollar trades

[muriel_volestrangler]

Swiss National Bank chief Philipp Hildebrand resigned Monday, acknowledging he could not prove his innocence amid a public uproar over his private currency deals.

Hildebrand’s resignation took effect immediately, Switzerland’s central bank said in a brief statement. Vice chairman Thomas Jordan stepped in as chairman.

The move came just before a Swiss parliamentary committee was to grill him behind closed doors about currency deals that raked in fat profits while his own central bank was actively working to lower the soaring value of the Swiss franc.
...
Switzerland has been in an uproar since news broke of the dollar swaps that netted Hildebrand and his wife Kashya, a former currency trader, tens of thousands of dollars in profits last year.

http://www.washingtonpost.com/business/industries/swiss-national-bank-says-chairman-hildebrand-resigns-amid-uproar-over-private-forex-trade/2012/01/09/gIQAMEUKlP_story.html

[catnhatnh]

1. "tens of thousands of dollars..."

...takes down the head of the National Bank of Switzerland. Here in the US that would be a laughably poor take for a small-town mayor...USA, USA, USA...