Yesterday, it was reported that Philipp Hildebrand, the Chairman of the Swiss National Bank, voluntarily resigned his position following allegations that his wife had engaged in a transaction which netted her a significant profit upon the SNB’s pegging of the Swiss Franc to the Euro. The former Chairman said that because he could not disapprove his assertion that he was unaware of the transaction before the fact, that he was resigning with immediate effect. Today we learn that the resignation may not have been quite as “voluntary” as Mr. Hildebrand has led us to believe. Read more