To what extent was the Swiss banking system responsible for empowering the Nazi regime?

To what extent was the Swiss banking system responsible for empowering the Nazi regime?

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A: Plan of Investigation
The purpose of this investigation is to analyze the extent of the support of Swiss banks towards the Nazi regime. In the analysis, the role of Swiss banks during World War II as well as the legal action that those banks faced in recent years will be examined. An evaluation of the origin, purpose, value and limitation of two sources used for research will also be provided in this investigation: “How Swiss Bank Accounts Work”- by Lee Ann Orbinger, and “Swiss Banks Settlement: In Re Holocaust Victim Assets Litigation”, an official online version of a settlement issued by Judge Edward R. Korman of the United States District Court for the Eastern District of New York.
B: Summary of Evidence
Swiss Code of Secrecy
The Swiss banking system has been renowned for its code of secrecy, which was established over 300 years ago. This policy was created for the French kings, at the time, which required large sums of financial support under utmost secrecy. In 1713, the Great Council of Geneva founded a set of regulations prohibiting bankers from revealing any account information with anybody other than the client, unless the Great Council itself agreed upon the disclosure of information. This allowed Swiss banks to be seen as a safe haven for those with illegal possessions, or even abnormally large bank accounts. Most notably, the noblemen and aristocrats that fled France during the Revolution sought refuge in Switzerland, due to the financial security that was offered. Although the disclosure of account information was frowned upon by the Swiss government, it was not considered a criminal offence. This was until the Banking Act of 1934 was established.
Foreign Pressure
Switzerland’s Banking Act of 1934 was a fede...


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..." HowStuffWorks.com. HowStuffWorks, Inc., 08 June 2007. Web. 03 Mar. 2012. .
"Swiss Banks Settlement: In Re Holocaust Victim Assets Litigation - Overview." Swiss Banks Settlement: In Re Holocaust Victim Assets Litigation. Web. 03 Mar. 2012. .
"Switzerland's Role In World War II." Switzerland's Role in World War II. Ed. Markus G. Jud. http://history-switzerland.geschichte-schweiz.ch. Web. 03 Mar. 2012. .
"U.S. and Allied Efforts To Recover and Restore Gold and Other Assets Stolen or Hidden by Germany During World War II." United States Holocaust Memorial Museum. May 1997. Web. 01 Apr. 2012. .

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