Anders Bouvin is the boss of the most successful bank you've probably never heard of.
And he, like the bank he runs, will challenge your preconceptions.
BBC News
The Swedish bank boss who likes to do things differentlyMatthew Wall | Business reporter
(h/t Ralph Musgrave via email)
2 comments:
Handelsbanken always promote itself as better than other banks, being more solid and not in any need of government bailouts.
But according this Swedish article Handelsbanken got $5,9 billions from the FED during the period 2008 to August 2009.
http://www.realtid.se/ArticlePages/201012/02/20101202114556_Realtid654/20101202114556_Realtid654.dbp.asp?sAction=lk
Sims,
Probably part of the FOREX swaps that the Fed did back then to just about all of the Foreign CBs...
Provided temporary liquidity to Institutions in the Swedish system that had arranged liabilities for themselves in USDs, this with no access to the US Fed (other than these FOREX swaps which were hastily arranged....)
These types of operations between the finance ministers of separate nation-states have a history in the west going back over 2,000 years, here is Plato on this process back in c. 360 BC:
"Wherefore our citizens, as we say, should have a coin passing current among themselves, but not accepted among the rest of mankind; with a view, however, to expeditions and journeys to other lands-for embassies, or for any other occasion which may arise of sending out a herald, the state must also possess a common Hellenic currency.
If a private person is ever obliged to go abroad, let him have the consent of the magistrates and go; and if when he returns he has any foreign money remaining, let him give the surplus back to the treasury, and receive a corresponding sum in the local currency." Plato "Laws"
So nothing new here... rsp,
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