These are my links for January 13th through January 15th:
- Bloomberg.com: UBS banker a fugitive - "Jan. 14 (Bloomberg) -- Raoul Weil, the former UBS AG official indicted on a charge of conspiring to help 20,000 wealthy Americans hide assets from the Internal Revenue Service, was declared a fugitive by a U.S. judge.
Weil, 49, former chairman of global wealth management at UBS in Zurich, was indicted Nov. 6 in Fort Lauderdale, Florida. UBS, the largest Swiss bank, helped wealthy American clients evade taxes with false documents after agreeing in 2001 to identify account holders and tell the IRS about their income, the U.S. alleged."
This is the only way to get these people: threaten them with some time behind bars
- Irish Examiner | Irish News | Bono to feature in Obama Inauguration - Obama had to disappoint
I did not realise it would be this early 🙂
- HMRC cracks £200m personal tax scheme - Accountancy Age - Good news
- HNIs home in on new tax havens- Indicators-Economy-News-The Economic Times - You'd have thought the Indian accountancy profession would have more to think about right now than how to promote tax abuse
But apparently not
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Hi Richard,
check out what Myners had to say in the Lords the other night. on stock-lending:
“It is important to note that just about every major pension fund and every major endowment in this country is in some way or another involved in short selling. However, my noble friend made a fundamental point about stock lending practices. I have asked the FSA to look at whether those practices are sufficiently understood by practitioners and subject to appropriate regulation.”
on the board of RBS:
“In the case of the Royal Bank of Scotland in particular, several directors, including the chairman, have indicated their intention to leave the board. Therefore, those boards, their major shareholders and UKFI need to work together to make first-class appointments. Finally, I add that those appointments should not necessarily be wholly and exclusively people with banking experience because, as the noble Lord, Lord Newby, said, and as was covered in an earlier debate in this House on the subject, we need to ensure that other issues such as technology and customer focus are appropriately represented around the board table.”
cheers
Tom
Richard – I thought this quote would make you smile! In some ways it seems to fit today’s circumstances.
“Owners of capital will stimulate the working class to buy more
and more of expensive goods, houses and technology, pushing them
to take more and more expensive credits, until their debt
becomes unbearable. The unpaid debt will lead to bankruptcy of
banks, which will have to be nationalised, and the State will
have to take the road which will eventually lead to communism”
Karl Marx, Das Kapital, 1867
Clarke
You really are gullible
Did you really think there was any chance Marx wrote that?
Have you ever read Marx?
See here http://ipeatunc.blogspot.com/2009/01/when-marx-isnt-really-marx.html
Richard
Oh Dear, Richard – it is quite pointless to try and indulge in any light hearted banter with you, isn’t it? As a matter of interest, yes, I have read Marx (University Politics).
Don’t forget that Phil Gramm: ex-US Senator, influential financial services deregulation lobbyist under Reagan, Bush Senior, Clinton and Bush Junior, sponsor of the Gramm-Leach-Bliley Act, supply side economist, senior economic advisor to John McCain is also vice-chairman of UBS Investment Bank.
A man arguing the Laffer curve argument that taxes would rise as taxes fell (to a certain point) [what Bush Senior called “voodoo economics”] was working for a branch of UBS set up specifically to encourage the transfer of capital from the US to Switzerland.
A current US investigation has evidence of $20 billion facilitated on its way across the Atlantic to UBS Switzerland.