Switzerland Tells the U.S. to Screw Itself

There are 4,450 Americans still holding secret bank accounts at UBS AG. In August of 2009, UBS AG agreed to turn over the names of those Americans to U.S. authorities. On January 27, 2010 the Swiss government said UBS AG did not have to turn over those names.

Who are these 4,450 Americans? They could just be evading taxes. The Swiss could just be following the rule of law. But there are concerning issues here. The 4,450 Americans could be politicians, involved with criminal organizations, or funding terrorist organizations. We don’t know. This concerns tax evasion at a minimum. There could be national security issues. The U.S. authorities are allowing the wealthy to commit crimes. The U.S. authorities aren’t doing their jobs.

Here is an idea. If UBS AG doesn’t provide the names, pull their charter to operate in the U.S. In February of 2009, UBS AG agreed to pay $780 million to avoid criminal prosecution. I have not found documentation that UBS AG paid this fine.

What does this mean to you? Realize that many of the wealthiest Americans are evading taxes. The best and the brightest have no problem with committing financial crimes to enhance their wealth. There were 15,000 Americans that turned themselves in for tax evasion under an amnesty program. Realize also that the U.S. authorities are unable to deal with the level of financial corruption in America.

If you want to evade taxes in your country you know where to go – UBS AG.

Is anyone in America angry about the rampant corruption in the financial world? Of course not. This is how business in now done in America.