Swiss to revea4,450 UBS AG bank accounts
UBS accounts to settle U.S. tax fight.
HOW MANY WEALTHY US DEMOCRATS ACCOUNTS WILL FOUND THERE IN HIDING FROM IRS ?
THE FACTS :
CAMBODIA REMAINS OCCUPIED BY VIETNAM IN VIOLATION OF 10 UN RESOLUTIONS.
UN Passes Strong Resolution on Cambodia Human Rights Abuses
Feb. 27, 1982 : UN Commission on Human Rights meeting in Geneva adopted a
resolution condemning Vietnam’s occupation of Cambodia as a violation of
Cambodian human rights. The vote was 28 in favor, 8 against, and 5 abstentions.
Oct. 21, 1986 The UN General Assembly adopted a resolution A/RES/41/6, by vote
of 116-21 with 13 abstentions, calling for a withdrawal of Vietnamese forces
from Cambodia.
IT'S IMPERATIVE FOR VIETNAM TO COMPLY WITH THIS UN RESOLUTION
By Jason Rhodes and Kim Dixon
BERNE/WASHINGTON (Reuters) - Switzerland has agreed to hand over details of
about 4,450 UBS AG bank accounts to U.S. authorities to settle a tax dispute
that challenged Swiss banking secrecy and now threatens to spill over to other
banks.
With Switzerland's famed banking secrecy under fire, the Swiss have also agreed
to process requests by the United States seeking information from its banks
besides UBS about account holders who may have tried to evade U.S. taxes.
"This announcement today should send a signal - no matter what institution
you're with, the IRS is willing to pursue both the institution and the
individual," Internal Revenue Service Commissioner Doug Shulman told reporters
on Wednesday.
The accounts were at one time worth $18 billion, Shulman said, though he could
not provide a current figure.
U.S. authorities would not name any other foreign banks under probe but the IRS
is expected to use the Swiss deal as a template to pursue further prosecutions.
"The IRS is now gaining institutional skill and knowledge in how to pursue
these types of cases and they're going to use that. This is, I believe, the
beginning and not the end," said Peter Hardy, a former federal prosecutor and
specialist in white-collar crime at Post & Schell in Philadelphia.
The UBS dispute had strained relations between the United States and
Switzerland and challenged the latter's jealously guarded bank secrecy laws.
The deal may add steam to a global effort among cash-strapped governments to
crack down on tax-evading jurisdictions.
But the settlement could help UBS, the world's second-largest wealth manager,
restore an image that has been battered by the financial crisis and the U.S.
dispute, and may open the way for the Swiss government to sell its UBS stake.
"It's good to get this out of the way but the confidence of a lot of clients
has been compromised so I'm not sure we will see inflows return in Q3. It will
take time to recover reputation from this," said Jaap Meijer, an analyst at
Evolution Securities in London.
Switzerland's Finance Minister Hans-Rudolf Merz said the government wants to
sell its stake as quickly as possible and while it would be good business, it
also has to consider other factors.
UBS shares closed down nearly one percent at 16.74 Swiss francs, having
reversed some of their earlier losses. Swiss rival Credit Suisse ended down 1.3
percent and Julius Baer dropped 0.8 percent.
UBS Chairman Kaspar Villiger said the agreement helps resolve one of UBS' most
pressing issues. "I am confident that the agreement will allow the bank to
continue moving forward to rebuild its reputation through solid performance and
client service."
In February, UBS agreed to pay $780 million and disclose about 250 client names
to settle a criminal probe by U.S. authorities. One former UBS banker testified
that he smuggled a client's diamonds into the United States in a tube of
toothpaste.
Wednesday's deal effectively ends a separate civil lawsuit by U.S. authorities
that sought up to 52,000 account names.
The "Mob" Will Not Be Silenced
RUSH: I want to go back and I want to play this montage that we played right
before the end of the previous hour about the Democrat talking point now on the
mob showing up at all of these town hall meetings.
.
THE COMMUNISTS ARE AT THE 111TH US CONGRESS TODAY ?
During an appearance on MSNBC's "Hardball," Barbara Boxer comments on the
attire of the health care protesters, saying she hasn't seen such
"well-dressed" people since the 2000 Florida recount.
Barbara Boxer "Call Me Senator!" must Apologize!
Barbara Boxer's $620 Million Air Freshener for ...Reid
Crowd mocks lawmakers over Obama health plan in Arkansas...
Pelosi: Town Hall Protesters Are 'Carrying Swastikas'...
THE US CONGRESS of Pelosi /Reid
Obama's 'Hideous Birthday Cake'...
Polls show growing doubt about Obama healthcare plans.....
FROM AMERICA WITH LOVE.
VIETNAM INVASION & OCCUPATION OF CAMBODIA continues 1979-2009.
US PRESIDENT RONALD REAGAN INSISTS ON CAMBODIA INDPENDENCE. 1988
UN Passes Strong Resolution on Cambodia Human Rights Abuses
Feb. 27, 1982 : UN Commission on Human Rights meeting in Geneva adopted a
resolution condemning Vietnam’s occupation of Cambodia as a violation of
Cambodian human rights. The vote was 28 in favor, 8 against, and 5 abstentions.
5. Oct. 21, 1986 The UN General Assembly adopted a resolution A/RES/41/6, by
vote of 116-21 with 13 abstentions, calling for a withdrawal of Vietnamese
forces from Cambodia.
As of today,Cambodia is still occupied by the Vietnamese troops despite the
call from the US president to Vietnam to cease her occupation of Cambodia since
1988.
Cambodia needs Independence from Vietnam and the Vietnamese invaders.
Vietnam must cease her occupation of Cambodia at once.
BURY
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