Even the Swiss are joining in the bank bailout game. The two biggest banks, UBS (NYSE:UBS) and Credit Suisse (NYSE:CS), have taken dramatic steps to offload toxic debt and raise working capital. But Bob Bauman says investors shouldn’t worry about the country’s banking system. It is still the place to safeguard your assets from the financial meltdown.

In the latest chapter of government intervention, Switzerland absorbed $60 billion of distressed debt from UBS’s books. The government also took a 9% stake in the bank. Meanwhile, Credit Suisse called upon key shareholders (including the government of Qatar) to raise capital.

But Bob says the only Swiss banks in trouble are those that abandoned their traditional banking principles and “Americanized” their business. Thankfully, the

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Financial News at Sibos September 16, 2008A series of setbacks has raised questions over whether Moscow could rival other centres and whether the rouble could become a reserve currency, writes Jason Corcoran The credibility of Moscow's ambition of becoming a global financial centre within five years has been called into question following a summer of systemic shocks to investor confidence and the arrested development of its market institutions.Highly liquid domestic markets, strong economic growth and a position at the heart of a booming region have contributed to the rapid growth of Russia's capital markets over the past decade.The dual government of President Dmitry Medvedev and Prime Minister Vladimir Putin have a blueprint in place for building Moscow's position as a financial hub. Some institutions, especially the Federal Anti-Monopoly (FAS) commission, have grown in stature due to its recent ...

Financial NewsJason Corcoran24 June 2008 Renaissance Investment Management's leading wealth management executive is leaving the Russian fund manager to join Swiss private bank Lombard Odier Darier Hentsch in Geneva.Alexander Kotchoubey, who joined Renaissance Investment Management as wealth management head and deputy chief executive, is the fourth senior executive to leave the Moscow firm in six months and follows the departure of its president Ilkka Salonen in May, chief investment officer Daniel Broby in March and the head of its Swiss operation Philippe Magistretti last December.Kotchoubey will join Lombard Odier in the next couple of weeks as head of international development for Russia and Eastern Europe.He said: "We are in the process of building a team for the region based in Geneva. Lombard Odier recognises the opportunities of expanding its franchises in emerging markets. They have a very aggressive view ...