Medical Tuesday Blog
A Swiss Shot Heard ‘Round The World
Removing the government cap unleashed free enterprise – hidden value re-appeared
Deutsche Bank suffered about $150 million in losses Thursday after the Swiss National Bank abruptly removed the cap on the Swiss franc’s value, sparking a massive franc rally, said a person familiar with the matter. Barclays also racked up tens of millions of dollars in losses, although they totaled less than $100 million, another person said.
Shares in FXCM, the biggest retail foreign-exchange broker in the U.S. and Asia, didn’t open Friday for trading on the New York Stock Exchange . . .
A U.K. retail broker entered insolvency, and a New Zealand foreign-exchange trading house collapsed. . .
Can you imagine if the caps on HMO and Medicare medicine were removed, how health care would flourish on the open market? Who would benefit and who would go bankrupt?
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