Living On The Default Line

Living on the Default LineUntil september tenth of 1970, I was a banker, head of a group of banks in Basel, Zurich, Geneva, Lugano and Luxembourg, with joint ventures brewing in Scandinavia and the Far East, all affiliated with the eighth-largest banking entity in the U.S. Heady stuff for a 38-year-old fellow. By noon of that day, it was all over. The Swiss police had arrested me. The charge—at least the eventual charge: My bank had lost $50 million in unauthorized speculation in precious metals...