Switzerland breaks with tradition on tax evasion

Evidently, the Swiss Government made 'tons of money' by creating ‘financial secret paradise’ for the criminals of the world that sent their money to be hidden in Swiss banks since the rise of Nazism in Germany in 1933.
Many people and especially millions of Jews who died in the holocaust left billions of dollars worth money in Swiss banks and their money became the property of the Swiss Government.
It is good news that Swiss Government will cooperate with US against criminals including drug dealers, international gun and explosives dealers, tax evasion criminals and billionaires who hide their money in Swiss bank to ‘get a break’ from the US and International laws.

Read the article closely. The Swiss, Austrian, Luxembourg, etc gov'ts that offer safe havens will only release information given substantial proof of wrongdoing. It is a polite way of saying FU to OECD. Oh sure they will throw an occasional bone or two to the OECD so that the banks can't be claimed as not complying. It comes down to that the banks still have the last say in releasing information.

Personally the banks should remain steadfast in maintaining their secrecy.

I hope Sean Penn, Susan Sarandin, Jane Fonda Barbra Streisand and Alec Baldwin got all their money out and into a Cayman Island bank!

DavidH64 wrote:

Read the article closely. The Swiss, Austrian, Luxembourg, etc gov'ts that offer safe havens will only release information given substantial proof of wrongdoing. It is a polite way of saying FU to OECD. Oh sure they will throw an occasional bone or two to the OECD so that the banks can't be claimed as not complying. It comes down to that the banks still have the last say in releasing information.
Personally the banks should remain steadfast in maintaining their secrecy.

I figured as much. Why would they lift a policy that if broken other than for "criminal activity" is punishable with jail time for the individuals involved? There would have to be a serious amount of greasing palms to lift that policy. I thought they only consider money hidden in their banks that is found to be connected to something like funding terrorists would be one of the reasons they would rat anyone out.

LOL wrote:

<quoted text>
I figured as much. Why would they lift a policy that if broken other than for "criminal activity" is punishable with jail time for the individuals involved? There would have to be a serious amount of greasing palms to lift that policy. I thought they only consider money hidden in their banks that is found to be connected to something like funding terrorists would be one of the reasons they would rat anyone out.

Yes those that use the banks to hide ill-gotten money, or those involved in serious criminal activities should be reported. A person just looking to hide some funds to avoid taxes, ex-spouse, etc should remain private and confidential. I use UOB and UBS, considering the fees I pay I damm well expect my accounts to remain private. It's not a lot of money, maybe to some, but nothing compared to the million/billion-aires that use those banks.

So what if I dont pay taxes on some of my money. It is mine. Not Obamas, not the USA, no one but mine and mine alone. Oh I cant wait for the liberal dumba$$es to flame me. But guess what, FU, I am not about to "share the wealth".