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In a strongly worded letter to Switzerland, U.S. Deputy AG James Cole demands - by Tuesday -...
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Sunday, September 4, 2011, 9:50 AM ETIn a strongly worded letter to Switzerland, U.S. Deputy AG James Cole demands - by Tuesday - detailed information on citizens using Swiss bank accounts to dodge taxes, or possibly see Credit Suisse (CS) and 9 other banks face criminal charges.
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They have bought immunity from US law and from the laws of economics until they finally crash the economy after milking it for everything they can lay hands on.
I have the feeling that this is the way it has always been though. Like Monopoly, the money always goes back to the bank, they invented the game and made/ change the rules to suit.
That being said, I would like to see some of them drawn and quartered.
You see the swiss are too neat, easy to mess with them.
Yes they will crash the economy in the end, and we will suffer, not the weathy weezles with the cash. US law is for the working man, not the rich, they have a differnt law.
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That has now changed. Clearly, all citizens now work for the benefit of government.
Tell the U.S. to go take a flying leap and to stick to attempting to manage affairs within its own borders, on which it is failing miserably. What are we going to do, invade, like Iraq or Libya? Switzerland hasn't been invaded in 700 years. I don't think they need to worry now.
Or, maybe, Obama can freeze foreign bank deposits. Yeah, that would be perfect. Since, they want a weak dollar, what could dissuade dollar buying faster than the fear that your assets will be frozen or confiscated?
We are certifiably nuts, in our Government, these days.
Really? Remember the short little guy from Corsica? He was almost as stupid and obnoxious as the American politicians.
Yes, you're right. 1799-1803.
Maybe, Obama ("the tall black guy from America") can take that as a precedent.
Screw you and the horse you rode in on pal! You have no right to "DEMAND" anything!
Hey socialist administration, I DEMAND you cease and desist on your transformation of this once great proud and noble country!
May God watch over this fragile little experiment in freedom we call America
Jerry
If the US wanted to accurately measure assets leaving its jurisdiction, it has plenty of legal ways to do so without interfering with the sovereignty of other nations. If it chooses not to employ those mechanisms, that's its own problem.
The US is trying to enforce US tax law upon income earned within its tax jurisdiction and not paid because they were hidden from the IRS via Swiss bank accounts.
To that end, the US is using the legal framework set up between the US and Switzerland to compel Swiss banks to hand over the information in compliance with the laws and agreements the Swiss government has agreed to.
We now have a system that pits the strong against the weak, blames the weak for their demise, and places all the emphasis and success on capital and all the blame on labor.
Not everybody has the skills to be a Steve Jobs and it's silly and unrealistic to expect that.
My grandpa's mother died when he was 18 and his father skipped town. Well guess what, he had to stay home and raise 6 kids by himself. He had a high school diploma and that was it. You think he had time to get some higher education with all that going on? Hell no, he had to raise a family. He wasn't lazy, life just gave him a tough hand but he made a positive life out it, and I guarantee he worked 100 times harder than any of these holier-than-thou conservative a-holes with an entitlement complex that judge everyone else as being the cause of their own problems. F these guys.
Any prosperity we enjoyed under Reagan was due to the investments the country made in science, technology, and infrastructure in the 40 years leading up to his election.
Your obviously strident in arguing your case. Which suggests to me you have one of those accounts.
Hey U.S. Deputy AG James Cole. Over here.....bearfunds one of the guys you looking for!!!!!!!!!
I hope I get some money for ratting you out.
What you overlook is that if the US can enforce US law in Switzerland today, it can enforce US law in Mexico tomorrow. So after a lifetime of working and paying outrageous US taxes on my earnings, I finally retire to my nice little beach, taking my money with me and leaving my US passport in the trash can. But I won't be safe! Because the US could decide, constitutionally or not, that my money is the government's property even though I'm no longer a citizen and the money is no longer in its jurisdiction (see HEROES Act; it's just a warmup for this kind of thing). Hey, they're gonna have to do something to pay their bills, right? The US government is a mafia capo who owes another capo a whole bunch of money. His choices are to try to kill the other capo and his goons or go on a major crime spree to raise cash. Neither scenario is good for the neighbourhood, so I'd like to get out, and I'd like to be able to keep my life savings, already 40% smaller than they should be thanks to rapacious taxation. That requires that there be somewhere to get out TO, which there isn't if other nations allow the US to disregard their sovereignty.
Make more sense now?
History is very interesting in the United States.
Hell, I wouldn't rat you out.
Unless of course there was a lot of reward money. (More Humor)
That link works. Basically it's another fishing expedition:
"The SonntagsZeitung quoted Swiss sources close to the talks as saying Washington is seeking details of all U.S. clients with accounts worth at least $50,000 between 2002 and 2010 at banks including Credit Suisse, private banks Julius Baer and Wegelin as well as the Zurich and Basel cantonal banks."
Time for the nice Swiss authorities to reveal which US Government officials now hold, or have held, accounts in Switzerland. Based upon the last fishing expedition at UBS, the US got very little for all that noise, and the few who did go to court ended up settling. Basically this is diplomacy at it's worst from the United States.
Woody Allen
Credit Suisse is prominent on that list, with their 42 000 billion derivatives casino (20-F SEC 2010 report) and their gambling operation concentrated in the US.
The Swiss Gov should just batten the hatches and let the US go ahead, file criminal charges against Credit Suisse and subpoena the heck out of them, paralyze the bank, shut down their liquidity pipeline to peers.
It would get interesting instantly:
A Lehman like earthquake rattle the counterparties, the other 'systemically important institutions'. The dominoes on WS start wobbling dangerously. Geithner and Bernanke, in catastrophe action mode, trying to fix another TARP but getting slaughtered on the Hill. Obama stepping in, overstepping his authority, and being successfully impeached...
Well, it does sound like a really tempting conspiracy after all, a Tea Party dream come true. Somebody just tell the Swiss Gov, hunker down and, for god s sake, do not respond to that Deputy Attorney General.
Have a good night
How serious can this be when Holder sends an unknown flunky to deliver the message?
The arrogance of this administration knows no bounds. Even the Germans in WWII didnt tell the Swiss what to do. After all they had all that lovely loot in there bank vaults. This country is in a mess, Dept, no jobs, homes lost by the thousand and dumb asses running things.
Will the madness ever end here, or will the people end up revolting in the end as things get worse. Ressession is not over by a long shot. The worst is yet to come, I see it...........
www.youtube.com/watch?...
I say screw it raise the top tax rate to 90% on net worth and unleash the dogs of war on Buffett and his ilk. Send the SEALs to collect the debts.
The Trillions in secret Swiss accounts are not sitting there. The banks would have lent them out to secondary lenders who may even funnel them to funding a sewage treatment plant in Africa, at a much higher rate though.
Third word rates would be much higher if these monies are repatriated.
Oh, and I'm not a Republican. Never voted Republican, either.
I like your politics.