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UBS may reveal U.S. clients' names in probe: report

Discussion in 'Political Discussion' started by weswelker#83, Jun 6, 2008.

  1. weswelker#83

    weswelker#83 In the Starting Line-Up

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    http://news.yahoo.com/s/nm/ubs_probe_dc
     
  2. otis p. driftwood

    otis p. driftwood Experienced Starter w/First Big Contract

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  3. weswelker#83

    weswelker#83 In the Starting Line-Up

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  4. otis p. driftwood

    otis p. driftwood Experienced Starter w/First Big Contract

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    How is it tax fraud? If you've got the money there...Look up how much Kennedy family money is in accounts overseas.

    I'm not saying it's right, I'm not even saying it's legal, what I am saying is that there are an awful lot of really wealthy people doing it, so why would they do it if it was illegal?
     
  5. weswelker#83

    weswelker#83 In the Starting Line-Up

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    Having an account overseas and not paying your taxes are 2 different things ! ;)
     
  6. otis p. driftwood

    otis p. driftwood Experienced Starter w/First Big Contract

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    Ted Kennedy has fought for the estate tax and spoken out against tax shelters. But he has repeatedly benefited from an intricate web of trusts and private foundations that have shielded most of his family's fortune from the IRS.

    One Kennedy family trust wasn't even set up in the U.S., but in Fiji.

    Another family member, environmentalist Robert Kennedy Jr., has said that it is not moral to profit from natural resources. But he receives an annual check from the family's large holdings in the oil industry.


    In "Do As I Say (Not As I Do): Profiles in Liberal Hypocrisy," Hoover Fellow Peter Schweizer reveals the glaring contradictions between the public stances and real-life behavior of prominent liberals including Michael Moore, Ted Kennedy, Al Franken, Hillary Clinton, Nancy Pelosi and Ralph Nader – among others.
     
  7. Holy Diver

    Holy Diver Pro Bowl Player

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    #80 Jersey

    UBS advised many of its employees not to travel to the US, for fear of arrest....that should tell you if what they were doing was considered legal, or illegal....

    here....read:

    http://lawprofessors.typepad.com/trusts_estates_prof/2008/05/ubs-tells-emplo.html

    To reduce the chance of its employees being arrested in connection with tax evasion schemes, UBS has recommended that travel to the United States be curtailed.

    Here is an excerpt from a report by Haig Simonian, UBS tells unit staff to avoid US visits, FT.com, May 27, 2008:

    UBS has told members of its former private banking team responsible for rich US clients not to travel to America.

    The Swiss bank has also made lawyers available to the more than 50 bankers involved, many of whom have left UBS since it decided last November to wind down its cross-border private banking business for US *customers.

    The move follows the recent indictment of one of the unit’s former senior executives, Bradley Birkenfeld, who US authorities have accused of helping a billionaire client evade taxes. Mr Birkenfeld has pleaded not guilty and his lawyers have made no public statement on the matter.
     
    Last edited: Jun 6, 2008
  8. Real World

    Real World Moderator Staff Member

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    People put their money in other countries to save cash all the time. What's funny is when activists are doing it. U2 for example, is one of the worse for registering everything in the Netherlands (might be a different Scandanavian country), so as to avoid high taxes in their native nation.
     
  9. Real World

    Real World Moderator Staff Member

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    Found what you're looking for? U2 inspire Irish ire by avoiding tax
    http://www.guardian.co.uk/world/2006/aug/09/artsnews.ireland

    Rolling Stones follow U2 tax haven trail to the Netherlands - home to 20,000 mailbox companies
    http://www.finfacts.com/irelandbusinessnews/publish/article_10008939.shtml

    Dang, 1.5%?
     
  10. Harry Boy

    Harry Boy Look Up, It's Amazing PatsFans.com Supporter

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    Who Gives A Sh!t
     
  11. Holy Diver

    Holy Diver Pro Bowl Player

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    #80 Jersey

    do you like paying for other people to NOT pay taxes? or think that people should pay what they owe?
     
  12. otis p. driftwood

    otis p. driftwood Experienced Starter w/First Big Contract

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    Actually I think the current tax system encourages people to do things like this. I also think it would be a shame if other countries forced Switzerland to change how it's done business for a few hundred years.
     
  13. weswelker#83

    weswelker#83 In the Starting Line-Up

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    UBS bank is being investigated for helping wealthy Americans evade taxes , Got it paul ?

    No comprendo ? Est ce que vous comprenez ? english isn't enough ,i guess. :rolleyes:
     
  14. otis p. driftwood

    otis p. driftwood Experienced Starter w/First Big Contract

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    So you think it should be okay for the US FBI and IRS to burst into a foreign owned bank in a foreign country and compel them to open their records, when they've prided themselves for decades on their discretion?

    So...you're against the US going into Iraq, but you're in favor of the US going into Switzerland.

    Do I have that right?

    Cause, I wouldn't want to think you were a hypocrite or anything at all.
     
  15. patsfan13

    patsfan13 Hall of Fame Poster PatsFans.com Supporter

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    Keith Odormann is a tax cheat, along with his buddy al Franken..
     
  16. weswelker#83

    weswelker#83 In the Starting Line-Up

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    Look My friend , UBS helping U.S. clients evade millions in taxes has nothing to do with invading iraq. Some people will spend some time behind bars , end of the story.
     
  17. otis p. driftwood

    otis p. driftwood Experienced Starter w/First Big Contract

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    Did you read the article you posted? Do you have the basic reading comprehension skills of a third grader?

    It's a Swiss bank. Swiss bank accounts have been secret for decades. They pride themselves on it. Now, the US government is trying to force them to open their books.

    I have no problem going after tax cheats, but I do have a problem with our country forcing another country to do something. And since you've been opposed to the US going into Iraq, I should think you'd be opposed to it as well.
     
  18. Holy Diver

    Holy Diver Pro Bowl Player

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    #80 Jersey

    so you were against the Iraq invasion, and are against forcing elections and 'freedom' an the iraqi people?

    word.
     
  19. Holy Diver

    Holy Diver Pro Bowl Player

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    #80 Jersey

    are you talking about Tax evasion, or Iraq?

    or BOTH!
     
  20. otis p. driftwood

    otis p. driftwood Experienced Starter w/First Big Contract

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    I was in favor of removing Saddam. Once we were there, I think having elections was fine--what else would you have done?
     

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