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From Dan Drezner, who’s currently teaching a summer course along the banks of the Rhine in lovely Basel:

If you think the bank bailouts are unpopular in the United States, try the Swiss reaction to the Swiss federal government’s bailout of UBS.  It’s to the Voldermortian point where they asked me not to say “UBS” because it’s so embarrassing.  We have compromised — I can now say “UBS,” but must then spit three times over my right shoulder to ward off evil spirits.

Basel, of course, is the home of the famous Basel Capital Accords, which did approximately nothing to stop our late financial meltdown.  In fact, Basel II probably made things worse.  So Swiss students have every right to be embarrassed, even if they were only renting their city out to the world’s central bankers, so to speak.

OTOH, Basel is also the birthplace of Roger Federer.  So they’ve got something to cheer for too.

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DEMOCRACY DOES NOT EXIST...

without free and fair elections, a vigorous free press, and engaged citizens to reclaim power from those who abuse it.

In this election year unlike any other—against a backdrop of a pandemic, an economic crisis, racial reckoning, and so much daily crazy—Mother Jones' journalism is driven by one simple question: Will America will move closer to, or further from, justice and equity in the years to come?

If you're able to, please join us in this mission with a donation today. Our reporting right now is focused on voting rights and election security, corruption, disinformation, racial and gender equity, and the climate crisis. We can’t do it without the support of readers like you, and we need to give it everything we've got between now and November. Thank you.

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