"Although I have great esteem for Fischer, he can do stupid things," Strauss Holdings chairman Michael Strauss told “IDF Radio" (Galei Zahal) today. He added, "At a time when many enterprises were closing, he brought the shekel-dollar exchange rate down to three shekels and change."
Most of Strauss's criticism was leveled at Governor of the Bank of Israel Prof. Stanley Fischer's demand for the ouster of Bank Hapoalim (TASE: POLI; LSE:80OA) chairman Dan Dankner.
Strauss criticized Fischer for being a gentleman. Had any other Bank of Israel governor made such comments of a bank executive, the chairman of that bank would have resigned immediately.
Strauss said, "I'm no expert about financial matters at the banks. I am, however, an expert in management. There's a way of running a business in the US and in Israel, and there's a way that creates a certain situation. There's a lot of dirt, and the public asks, 'What's going on here?' It's as if everything is going into a black box and concealed. That's not acceptable in the business world."
"Galei Zahal: To the point that you say this is character assassination of Dan Dankner?
Strauss: "Obviously. To release conclusions, when in the world there were much greater problems that those at the bank? There has never been such a response or comment, and which was said in such an irrelevant way. I strongly hope that if something unacceptable was done, in my opinion the company's shareholders and directors should make that conclusion."
Do you see an end to the crisis by the end of 2009?
"No, I really don’t see the end. The situation is better in terms of banking activity in some countries. The second level, jobs, I don’t see any improvement."
Strauss Holdings owns the 73% controlling stake in food company Strauss Group Ltd. (TASE:STRS), whose chairwoman is Ofra Strauss.
Published by Globes [online], Israel business news - www.globes-online.com - on May 6, 2009
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