While negative news on Credit Suisse have gone viral, the chief executive of the Credit Suisse Group expressed deep regret on aiding U.S. tax evasion. Then again, this remorse became a bit stained when he said that the misconduct was only committed by a number of “rogue” employees.
Well, I may be jumping a little too far when I said “…a bit stained” but interestingly.. isn’t Credit Suisse among the banks that takes in “ill-gotten” wealth (like the Marcos wealth) from politicians around the world? Yes? No??
See, how come these misconducts have only gotten attention when the United States got involved? Other countries must have suffered even more.
Okay, there may be just a handful of employees who were engaged in helping some U.S. customers open Swiss bank accounts and evade taxes – but that’s expected. Hey, you don’t tell everybody that you’d be going “under the table”?!
This means, could there be bigger fishes involved here? How about extending the investigation to all heads and money laundering possibilities as well? Hmm… well, just wondering.
As it is, Credit Suisse CEO Brady Dougan is simply sowing disenchantment among his men by blaming and calling those caught by the net as “rogue” employees, when he should even have been on top of the situation. A good Leader takes responsibility.
And so, if the “damage” is quite big, shouldn’t he be resigning?
What’s your take?