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Published on Mar 24, 2013
Following an interview on Fox Business during which I discussed the situation in Cyprus and the potential broader implications of the crisis, Lou Dobbs, apparently now more optimistic about the U.S. economy, was very dismissive of my comments. But instead of just countering my arguments, he also impugned my character. He effectively accused me of being a charlatan, stating that my real objective was to scare people into opening accounts at my offshore bank. As I am often the bearer of bad economic news, I understand the tendency to shoot the messenger. Of course, Mr. Dobbs had no way of knowing that my offshore bank does not accept accounts from U.S. citizens or residents (Fox Business does not have an international audience yet) and therefore for this particular interview the only purpose for my bringing up my bank was to illustrate how the crisis was affecting the offshore banking industry; from the unique perspective of the owner of such an institution.