>> the head of the swiss national bank -- bank philip hildebrand, has been brought down, anand inlvesighly controversial and profitable currency exchange deals carried out by his wife. the trades were made just before and just after he took steps to weaken the swiss franc. while he denies providing his wife with inside information, he acknowledged that he cannot prove his innocence and has reside with immediate effect. >> in the end, philip hildebrand bowed to bring pressure. he joined the central bank it thousand three and became president two years ago. but, recently, he made headlines due to his wife's currency transactions. she runs an art gallery in zurich. in mid-august, the former currency trader purchased over half a million u.s. dollars. she profited handsomely after the swiss national bank intervened to lower the value of the franco a short time later. >> after thoroughly checking the documentation and careful consideration since the press conference, i have come to the conclusion that it is not possible to provide conclusive evidence that my wife initiated the foreign curre

bruce crafting a hedge for former hedge fund manager and he's noting that cassia the wife of philip hildebrandthe head of the swiss national bank sold swiss francs just a few days before the swiss national bank initiated exchange controls and devalued the franc the timing of the transactions was nearly perfect the suggestion is that pillow talk between husband and wife led to the trades now however max he says don't expect has thrown because there's been an investigation and they've cleared the couple because they only made fifty thousand dollars in the month and philip hildebrand makes nine hundred fifty thousand is the head of the swiss national bank so he wouldn't possibly do this because he has so much money and he wouldn't want to jeopardize his career you know this brings up a lot of it's a story wealth equals moral superiority that's an interesting byproduct of this economic system that has engulfed the globe is that the more money you have the more morally virtuous you are and you become a ball vul law that's why people like you run these banks believe that they're above the law they'r

and they've cleared the couple because they only made fifty thousand dollars in the month and philip hildebrand makes nine hundred fifty thousand is the head of the swiss national bank so he wouldn't possibly do this because he has so much money and he wouldn't want to jeopardize his career you know this brings up a lot of interesting story wealth equals moral superiority that's an interesting byproduct of this economic system that has engulfed the globe is that the more money you have the more morally virtuous you are and you become a ball vul law that's why people like you run these banks believe that they're above the law they're doing god's work as blankfein would say because he has a lot of wealth therefore he's closer to god and i've got the wife of some swiss central banker saying well if fifty thousand dollars we make much more of that per year so it's not a crime because we have enough money we have more money than god therefore we determine what's legal what is moral and therefore we're innocent that's the first point that should be made the second point that should be made is that if