Posted on 03/04/2009 6:17:58 PM PST by ninonitti
WASHINGTON (Reuters) - Switzerland's largest bank held its ground on Wednesday in a dispute with the U.S. government, refusing to disclose the names of tens of thousands of rich American clients suspected by U.S. authorities of using secret Swiss bank accounts to dodge U.S. taxes. A senior executive for UBS AG said at a Senate hearing that the bank regrets breaking U.S. tax laws, but it does not intend to hand over the client names being sought in a U.S. Internal Revenue Service lawsuit. "UBS has now complied ... to the fullest extent possible without subjecting its employees to criminal prosecution in Switzerland," said Mark Branson, chief financial officer of UBS Global Wealth Management and Swiss Bank. The hearing convened hours after UBS announced that Swiss politician Kaspar Villiger will replace
(Excerpt) Read more at reuters.com ...
I support UBS in telling the Feds to cram it up their bums.
Good for them.
He should say “We will give you the names starting with every senator past and present, their balances, and PIN numbers.”
Big dittos to what you said!
oooh... catfight.
Why should UBS give a sh!t about the IRS. The Secretary of the Treasury doesn’t.
“But...but I won! You HAVE to do what I say! Even outside the US...right?”
That would unkink a lot of colons.
Why would any respectable corporation do business or be HQd in the USA... Go Off-shore like Stanley Tools did.
Last I heard, last week, was that UBS already turned all these names over to the IRS. Now they’re saying all these fightin’ words. Which is it??
Or maybe UBS and its agents and employees here in the States could be charged with criminal RICO Act violations.
I believe that the clintons, for one, have several billion dollars in Swiss accounts.
Vince Foster was their bag man, until he committed Arkancide in Fort Marcy Park.
Then hillary acted as bag lady, using a diplomatic pouch to carry the cash over each year. That’s the main reason why she attended all those economic conferences over there. It gave her a good excuse to take the money over herself.
When you get down to it, UBS is aiding people who are trying to avoid paying taxes. I don’t like taxes, but this isn’t the way to avoid paying them. So this does bother me. I’m still coming down on UBS (actually the citizens that deposit in UBS) side here. Good for them. I hope they tell the feds to cram it.
If the federal government is going to force ever increasing basically non-representative taxation on people, then they are going to see tax evasion skyrocket.
The way to avoid paying taxes, is to vote out tax and spend people from both parties, and reduce government spending on things that is not its mandate.
She would not do anything like that....yeh right!
And after the winged-monkeys evacuate my butt, we'll all skip down to watch kaleidoscope people eat marshmallow pies ;-)
Finally....a bank with balls.
For me, it is about privacy. Sure, some people use the foreign banks to avoid taxes. I am pleased to see someone telling the Feds to keep their noses out of client records.
that would be a real quick way of ridding us of the IRS wouldn’t it? LOL.
I agree. Still, allowing folks to hide funds in foreign owned banks is somewhat suspect IMO. I’ve come down on that side of things for now, but I do think there is something more important to be done about high taxation.
What we need here is a march on Washington, D.C. by every able bodied adult in the nation who possibly can.
Just stand in the streets and freeze the nation’s capital until it gets religion.
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