Ubs Naming 5,000 Accounts Under Us Deal: Report

[flying]

http://www.cnbc.com/id/32437801

The deal initialed last week between the United States and Switzerland over UBS will involve the disclosure of around 5,000 holders of secret Swiss accounts, weekly newspaper NZZ am Sonntag said on Sunday.Another Swiss weekly, Sonntag, said around 4,500 names would be handed over.

Edited August 17, 2009 by flying

[RKASA]

The swiss should tell them to go pound cheese.  Tax collection in the US is not their problem or an issue.  If they feel one person is criminal enough say as in drug money then file a extradition order for evidence in that case.  What the hel_l are they thinking, give us the right to audit all your banks?  Bogus and embarrassing.  If swiss people are upset by this one I don't blame them one bit.  Now the money will move somewhere else.  Wow, well done. 

[lannarebirth]

The swiss should tell them to go pound cheese. Tax collection in the US is not their problem or an issue. If they feel one person is criminal enough say as in drug money then file a extradition order for evidence in that case. What the hel_l are they thinking, give us the right to audit all your banks? Bogus and embarrassing. If swiss people are upset by this one I don't blame them one bit. Now the money will move somewhere else. Wow, well done.

The truth is that this could have happened years ago. When CS bought First Boston and UBS bought Paine Webber (or Pincus Warburg, I forget) in the US they had to agree to comply with US banking charter standards. They were looking for growth.

[Naam]

http://www.cnbc.com/id/32437801

The deal initialed last week between the United States and Switzerland over UBS will involve the disclosure of around 5,000 holders of secret Swiss accounts, weekly newspaper NZZ am Sonntag said on Sunday.Another Swiss weekly, Sonntag, said around 4,500 names would be handed over.

"secret" swiss accounts exist only in Hollywood movies.

[khundon]

The swiss should tell them to go pound cheese. Tax collection in the US is not their problem or an issue. If they feel one person is criminal enough say as in drug money then file a extradition order for evidence in that case. What the hel_l are they thinking, give us the right to audit all your banks? Bogus and embarrassing. If swiss people are upset by this one I don't blame them one bit. Now the money will move somewhere else. Wow, well done.

RKASA

It would be impossible for any bank to continue trading, if the USA did not allow trading/transfers into the US from these banks.

So telling the US to take a hike is out of the question.

It seems that the US, along with many countries are starting to target these accounts in order to get overdue taxes on monies hidden away in them.

Lichtenstein has just signed a treaty with the UK, to allow access to hidden accounts.

Sad but that is the way the World is going.

[ericthai]

The US tried to get Singapore to open their account information but the government told them to take a hike. Happened last year maybe early this year. Happen3e when the typhoon hit Burma and the Burma government refused help, The US tried to use that as an excuse to get access to the accounts, cant recall the exact reason why, but the government told them this had nothing to do with things and refused. I hope Singapore continues to refuse.

[flying]

It seems that the US, along with many countries are starting to target these accounts in order to get overdue taxes on monies hidden away in them.

Sad but that is the way the World is going.

You got it

Timothy G ( tax evader) & the boys need all the help they can get.

They will be turning over many more stones soon enough in their search for tax $$

[dekestone]

The Swiss government was involved in the negotiations as well, not just UBS, and they are not without leverage seeing as they look after US interests in North Korea and Iran -- not a small matter when you think about the two Korean- Americans recently jailed and released in N. Korea and the three American students currently in an Iranian jail on grounds of trespassing/spying.

The 4500-5000 names actually represents a compromise since the US first insisted on all the (alledgedly) 53,000 names being handed over. Should see more details about the agreement this week.

[PaulDee]

The US tried to get Singapore to open their account information but the government told them to take a hike. Happened last year maybe early this year. Happen3e when the typhoon hit Burma and the Burma government refused help, The US tried to use that as an excuse to get access to the accounts, cant recall the exact reason why, but the government told them this had nothing to do with things and refused. I hope Singapore continues to refuse.

_{^{Right on! We should ALL tell the US to take a hike and}}

_{^{we should ALL put ALL our funds into Burma banks.}}

[hhgz]

"Sad but that is the way the World is going."

Yeah, it's getting harder to lie and cheat.