My Letter to Barney Frank - Please Boot UBS Out Of The Country

[MannyGoldstein]

Here's what I just sent to my Congressperson:

"I understand that UBS is refusing to release the names of 52,000 Americans who may be dodging US taxes via UBS's services. UBS claims that they *must* hide the identities of these tax cheats because of Swiss law.

It seems to me that this makes Swiss banks incapable of doing business in the US. Why shouldn't UBS simply be stripped of all rights to do business in the US?

Haven't we had enough of being fleeced?"

[geckosfeet]

1. It won't stop the fleecing - US citizens can fly to Switzerland and open accounts.

IMO - enforceable laws for legal action against the account holders for tax evasion would work better. We still have to find out who holds the accounts.

[MannyGoldstein]

3. Not Perfect - But It Will Make Other Banks Think Twice Before Fucking With Us

Only way to deal with bullies is to beat the snot out of one 'em. The rest get the message.

[ProgressiveProfessor]

8. Swiss bankers are not going to jail in their country to help the IRS in our country

[geckosfeet]

9. We just have to pay off the Swiss government. How about they get a

percentage of the taxes we collect from the tax evaders?

[ProgressiveProfessor]

10. I doubt it, not all countries are run by Repukes

[billybob537]

2. Freeze their assets in US

If they don't want to assist US law enforcement Don't let them operate here.

[Cleita]

4. I've always been against foreign banks doing business in this country.

We can't stop Americans from going over there and doing business in their respective nations, but those banks shouldn't be allowed to be chartered here. I can remember back when we did that and we were a far more prosperous nation then.

[Rosa Luxemburg]

5. Bush and Paulson wanted to give foreign banks the US taxpayers' bailout

people have short memories! go back before the november election!

http://www.iht.com/articles/2008/09/21/business/global.php

[KharmaTrain]

6. Force Full Disclosure...

These banks need to be shamed into disclosure just as they were about the accounts of Jews seized during WWII. It took years to get those banks to really open the books to show the dirt underneath.

UBS is just one of many offshore shell game that destroyed the economy. Yes, they need to be taken down...and if this collapse continues they will. Most important is that they don't receive a DIME of TARP or any other bail out money. They have already...but that needs to halt. Or, if they do need funds to prevent our own banks from further collapse, they and other offshores must fully open their books and put pressure on others to do the same.

I'm curious about the 52,000 names that were disclosed...what happens with them? Does the IRS now go after them? Or does this just provide another link in a growing web of money laundering and fraud?

[burythehatchet]

7. I assume the same would apply to Phil and Wendy