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Credit Suisse, Switzerland's second largest bank, posted a $7 billion loss in 2008 and slashed thousands of jobs. But so far it has not suffered from the loss of client confidence that UBS faces. The biggest winners are small banks because "they keep their noses clean and stay out of the United States," Bretholz says. "The Swiss want their money to be safe, and they can no longer find security in big banks that operate internationally and are exposed to global risks...

Author: /time Magazine | Title: The Swiss Question Their Once Proud Banks | 3/5/2009 | See Source »

Prompted by the tax evasion scandal, the Swiss are now in the middle of a national re-examination of banking industry regulations. An increasing number of voices are speaking up against banking secrecy, which, under the current law, can only be lifted if a client is suspected of defrauding tax authorities, rather than merely not declaring all assets. Recent polls show that 56% of Swiss now support helping foreign countries identify tax evaders, up from just 20% last year. Even some ministers and bankers agree that changes to the 75-year-old law might be necessary to avoid continued pressure...

Author: /time Magazine | Title: The Swiss Question Their Once Proud Banks | 3/5/2009 | See Source »

...pieces by a highly unlikely mix of artists ranging from Pablo Picasso to Rosie O'Donnell, Stanley's presence was a boon. By the time the show closed on Saturday evening, roughly three dozen works of art had sold, including a $10,000 bronze sculpture to a longtime Wentworth client who had never before acquired a piece by the artist formerly known as Starchild. Despite prevailing concerns about the flaccid economy, it had been a very good day. Stanley, however, says the rewards are more than monetary. "I like the idea that the snobbism is taken out of it here...

Author: /time Magazine | Title: From Kiss Front Man to Gallery Artiste | 3/4/2009 | See Source »

...consulate will serve as the client for four groups of students—up from just one last year—in the Masters in Public Policy program at the school as the students work on their Policy Analysis Exercise, a two semester project that marks the capstone of their studies...

Author: By Shambhavi Singh, CONTRIBUTING WRITER | Title: HKS Expands Consulate Program | 3/3/2009 | See Source »

...recognize that serving 500,000 new families per year will take time." But it's an investment that self-propagates. Once the nurses have educated new moms, says Ballard, the mothers start educating one another. "It's so neat to watch," she says. "We give information to our clients, and they share with neighbors. One client was the go-to person for everything. She'd say, 'Talking to your babies makes them smart.' And the other moms would always come...

Author: /time Magazine | Title: Nurse Home Visits: A Boost for Low-Income Parents | 3/2/2009 | See Source »

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