USA to UBS: Hand Over Tax Evaders, Or Else!

[formercia]

Source: business.Yahoo


USA to UBS: Hand Over Tax Evaders, Or Else! Swiss Bank's American Assets at Risk
Posted Jul 10, 2009 07:00am EDT by Aaron Task

As the war over alleged U.S. tax evaders and Swiss banking secrecy laws heats up, UBS is at risk of losing both its banking license and U.S. assets, says Ken Rubinstein, senior partner at Rubinstein & Rubinstein, and a specialist in areas of estate and tax planning.

This week, the Swiss government said it would seize UBS data in order to prevent the Justice Department from obtaining the identities of 52,000 American account holders.

But Rubinstein doesn't believe that will shield UBS, since the bank earlier this year admitted it send private bankers to the U.S. with the express intent of helping wealthy Americans avoid U.S. taxes. In February, UBS paid a $780 million fine and gave U.S. officials the names and data of 250 individuals.

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Read more: http://finance.yahoo.com/tech-ticker/article/277644/USA-to-UBS-Hand-Over-Tax-Evaders-Or-Else!-Swiss-Bank%27s-American-Assets-at-Risk

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There's blood in the water....

[Hello_Kitty]

1. I got into a heated argument with a DUer about this a couple months ago

He described it as a "witch hunt" against the poor little rich tax evaders. I tried pointing out to him, repeatedly, that the U.S. does not have to grant UBS a license to do business here and that UBS was complying voluntarily.

[pleah]

2. Can't wait to see what happens next.

:popcorn:

[ProgressiveProfessor]

9. Swiss Government has told UBS it is illegal to give up the data and has threatened to sieze the

records. The US has no leverage over the Swiss either.

[Hello_Kitty]

10. UBS has no inherent right to a license to do business in the U.S.

That's the leverage.

[ProgressiveProfessor]

11. Not to the Swiss Government

This is not a case of big bank vs the US, its Gov to Gov at this point.

[Hello_Kitty]

12. And one of the governments can yank the license of the largest bank of the other country.

This is why the Swiss have been remarkably (for them) willing to give up some names thus far.

[sabbat hunter]

3. Good for our government

go after those bastards. Next up hopefully will be those accounts in places like the Cayman islands.

[formercia]

7. Your wish is granted

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102x3962996

[Soylent Brice]

4. i wonder

how many senators/congresscritters may have some of these swiss accounts, and it will be interesting to see who fights to prevent such information from being released.

[bertman]

5. A good first step.

[pattmarty]

6. Don't hold your breath. This is what I have come to believe is Obama's...........

..........philosophy and political operating procedure. Talk all high and mighty (Bill Clinton's operative) and then "compromise" with opponents to make it "bipartisan". It's total bullshit. He has the Presidency, both houses of Congress, PLUS a filibuster proof Senate. So I have to ask, "what the fuck is the problem"?

[sabbat hunter]

13. it is not fillibuster proof

due to Lieberman and the "Blue dog" democrats

[pattmarty]

15. Oh, c'mon. Look at Bush thru his two terms, the Dems caved to.............

...........give him all the bullshit legislation that he wanted. We have majorities, and still have NO Republicans that will side with us. What you ought to do is climb all over your rep and senator (if Dems) to support progressive legislation.

[windowpilot]

8. Let's Roll n/t

[Democrats_win]

14. Boycott Swiss Cheese!

[KansDem]

16. Also their hot chocolate and knives!

I say it's time to KICK SOME SWISS BUTT!!!
:woohoo::woohoo::woohoo:

[Odin2005]

17. How sad that the little bastion of neutrality and peace has become a fortress of evil.

:puke: