On Demand
Holes Found in Swiss Banking
Friday, June 20, 2008
An ex-UBS banker plead guilty this week to helping his wealthy clients cloak their assets and evade taxes. David Henry, senior writer at BusinessWeek, discusses the fallout of this white collar crime.
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We have a growing difference between the haves and have-nots in the US. I think this one case is probably the tip of the iceberg in the US. I often ask myself why are cities and states so often having financial problems when the US is supposed to be the richest country in the world? How are we to really deal with larger problems such as poverty, climate shift, and so forth if our most successful citizens refuse to do their part?
wow! the same UBS that Phil Gramm, John McCains' economic advisor was working for? [and the same Phil Gramm that put through the Enron Loophole legislation thus deragulating energy and housing markets?]
think there's a connection between that and say, how much McCain says he doesn't know anything about the economy? Shocking!
Yes, sir. Phil Gramm is Vice-Chairman of UBS AND is McCain's chief economic advisor. How's that for sleaze?
Well j, interesting that Phil Gramm--who should go to prison--had to have help in the congress to get these things passed. We HAVE TO exam our candidates much more closely, the media aren't doing it. We have the internet now and we have to get the info out on everyone before we put them in office and we've got to get the disengaged/disenchanted re-enchanted and re-engaged in the total voting process to because it is they (we) who are the majority.
what exactly is the difference betwn his activities and those of the big 4?
usually with these scandals the real outrage -- untreated -- is not which laws were broken but which ones did not exist.
(such as enron and its offshore entities, which were legal and remain so).
Common folk use also have Swiss bank account too, Brian, lots of common folk have them.
nothing this guy has described is remotely illegal.
quick example:
deloitte and touche's creative tax strategies dept:
http://tinyurl.com/4luqde
missing the story here somehow...
The internet is a "public space" you're fooling yourself if you think it isn't.
i don't know if i want to waste anymore of my taxpayer money on phil gramm, to be honest, but if he and the wife had to pay back all they made from those deals WITH INTEREST, and then go on with their lives not being able to work as lobbyists or in gov't ever again, including as contractors, i could live with that.
as for help in congress, sure - but gramm did insert that legislation for the enron loophole written BY enron, in a midnight session of congress, and by way of neglect, and not reading the whole bill and not knowing it was there [much like the so-called patriot act], he had 'help' from the rest of congress.
finally, most people in this country are basically mathematically and scientifically illiterate, almost as a badge of honor - and most members of congress are mathematically and scientifically illiterate as well.
i got a college level science degree, my father worked as a high-level mathematician, and we're both dyslexic, so what's everyone else's excuse?
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