Poder 360¬? - The Last Days of Bank Secrecy?.
Good blog for those who want to know more about Swiss banking secrecy, but this drew my attention:
Transparency is a secondary virtue. It is not desired as an end in itself, but because of the things it makes possible: a reduction in corruption, an increase in accountability, justice and fairness in the world. Secrecy, on the other hand, is undesirable not because it is inherently bad but because of what it leads to: bribes, kickbacks and iniquity more broadly. Secrecy should not be confused with privacy: the latter is a right—my neighbors need not know the contents of my bank account—while the former is not—those of us who are citizens of Western democracies acknowledge our governments’ right, having followed due process, to examine our accounts.
Neatly argued.
But, and it's a big but - the use of limited liability entities and tyrusts, which are constructs created by law, limits the right to privacy.
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The US should begin preparation for the release of all the rich foregners names that have accounts in US banks. The US opened a can of worms that will show that the US is the biggest offender of tax evasion around the world. Foreigners pay no tax on gains in the USA.