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Switzerland Keeping the Secrets of Alleged Tax Evaders - Yahoo! News - 0 views

  • Pick a dictator, almost any dictator - Cuba's Fulgencio Batista, the Philippines' Ferdinand Marcos, Haiti's Papa and Baby Doc Duvalier, the Shah of Iran, Central African Republic Emperor Jean-BÉdel Bokassa - and they all have this in common: they allegedly stashed their loot in secret, numbered accounts in Swiss banks, safely guarded by the so-called Gnomes of Zurich. This association - of bank secrecy and crime - has been fed into the public's imagination by dozens of books and movies. It's a reputation that rankles the Swiss, who have a more benevolent view of their commitment to privacy - one that happens to extend to tax privacy. Don't ask, because we won't tell. But the dramatic federal investigation of Switzerland's UBS has blown the lid off bank secrecy - and revealed how Swiss banks abet tax evasion on a far more widespread, if more banal, level. Over the past two decades, these secret banking services have been peddled progressively downmarket - first to the lesser-known fabulously wealthy, then to just the wealthy; more recently, private bankers have been tripping over themselves soliciting business from doctors, lawyers and other folks who are what the biz generally calls "high net worth" individuals. "The IRS has been concerned for decades that a combination of a global economy, the Internet, offshore banking, was really going to take offshore tax evasion from the old so-called 'gentlemen's sport' to tax evasion for the masses," says Mark Matthews, a former deputy IRS commissioner and now a tax attorney with Morgan, Lewis & Bockius LLP.
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    The federal investigation into UBS, which led to a $780 million fine and an agreement to turn over the names of more than 4,450 suspected tax cheats, is now in tatters after Swiss courts ruled against the executive-branch deal. To get around it, a special law has been proposed to accomplish the handoff, but that may not get anywhere in the legislature either. One outcome is already known: tax evasion had become a key service of the Swiss economy, not some isolated event. "They have been outed completely because a very large chunk of their business has been shown to include people cheating on taxes," says Jack Blum, a tax-haven expert. Being "reasonably conservative," he estimates 30% of Swiss banking is related to tax evasion, a figure that jibes with recently released bank data. These revelations come as the financial meltdown has punched a huge hole in projected revenues for governments, which are suddenly a whole lot less tolerant of tax cheats. That's particularly true in Germany, whose wealthy account for a significant portion (at least 10%) of the $1.8 trillion in Swiss banking assets. That translates into hundreds of millions in lost revenue and is the reason the German Finance Minister recently thundered, "There's no future for bank secrecy. It's finished. Its time has run out." The Swiss are not going to be so easily convinced. The Swiss government has already warned that it will not cooperate with German authorities if they go ahead with plans to purchase purloined data about Germans with Swiss bank accounts.
thinkahol *

How Corporations Buy Congress | BuzzFlash.org - 0 views

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    With the November elections quickly approaching, the majority of  Americans will be thinking one thing: "Who cares?" This apathy isn't due  to ignorance, as some accuse. Rather, working people's disinterest in  the two party system implies intelligence: millions of people understand  that both the Democrats and Republicans will not represent their  interests in Congress.  This begs the question: Whom does the two party system work for? The  answer was recently given by the mainstream The New York Times, who  gave the nation an insiders peek on how corporations "lobby" (buy)  congressmen. The article explains how giant corporations - from  Wall-mart to weapons manufacturers - are planning on shifting their  hiring practices for lobbyists, from Democratic to Republican  ex-congressmen in preparation for the Republicans gaining seats in the  upcoming November elections: "Lobbyists, political consultants and recruiters all say that the  going rate for Republicans - particularly current and former House staff  members - has risen significantly in just the last few weeks, with  salaries beginning at $300,000 and going as high as $1million for  private sector [corporate lobbyist] positions." (September 9, 2010) Congressmen who have recently retired make the perfect lobbyists:  they still have good friends in Congress, with many of these friends  owing them political favors; they have connections to foreign Presidents  and Kings; and they also have celebrity status that gives good PR to  the corporations. Often, these congressmen have done favors for the corporation that  is now hiring them, meaning, that the corporations are rewarding the  congressmen for services rendered while in office, offering them million  dollar lobbyist jobs (or seats on the corporate board of directors)  that requires little to no work.  The same New York Times article revealed that the pay for 13,000  lobbyists currently bribing Congress is a combined $3.5 bil
Yee Sian Ng

Empathy in short supply: Greece: not a simple fable about ants and crickets | The Econo... - 0 views

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    "Real, live Germans are not heartless ants, and the Greeks are not broke because they are giddy crickets who sing their summers away. Greece is a grown-up country with grown-up problems: rough, tough politics, and a lot of recent history, not all of it very nice. And it is precisely that recent history, and rough politics, that are at the core of Greece's fiscal woes today. Take the painful question of the huge public sector, and all those civil servants with jobs for life, and unusually generous retirement packages. The existence of those jobs for life is not a cultural quirk, in which Greek officials simply like coffee and backgammon too much to do any work. It is the end result of a brutal, multi-decade power struggle between the left and the right: a struggle that got people killed within living memory."
thinkahol *

When Change Is Not Enough: The Seven Steps To Revolution | OurFuture.org - 0 views

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    "Those who make peaceful evolution impossible make violent revolution inevitable."- John F. KennedyThere's one thing for sure: 2008 isn't anything like politics as usual.The corporate media (with their unerring eye for the obvious point) is fixated on the narrative that, for the first time ever, Americans will likely end this year with either a woman or a black man headed for the White House. Bloggers are telling stories from the front lines of primaries and caucuses that look like something from the early 60s - people lining up before dawn to vote in Manoa, Hawaii yesterday; a thousand black college students in Prairie View, Texas marching 10 miles to cast their early votes in the face of a county that tried to disenfranchise them. In recent months, we've also been gobstopped by the sheer passion of the insurgent campaigns of both Barack Obama and Ron Paul, both of whom brought millions of new voters into the conversation - and with them, a sharp critique of the status quo and a new energy that's agitating toward deep structural change.There's something implacable, earnest, and righteously angry in the air. And it raises all kinds of questions for burned-out Boomers and jaded Gen Xers who've been ground down to the stump by the mostly losing battles of the past 30 years. Can it be - at long last - that Americans have, simply, had enough? Are we, finally, stepping out to take back our government - and with it, control of our own future? Is this simply a shifting political season - the kind we get every 20 to 30 years - or is there something deeper going on here? Do we dare to raise our hopes that this time, we're going to finally win a few? Just how ready is this country for big, serious, forward-looking change?Recently, I came across a pocket of sociological research that suggested a tantalizing answer to these questions - and also that America may be far more ready for far more change than anyone really believes is possible at this moment. In fac
thinkahol *

The Blog : How Rich is Too Rich? : Sam Harris - 0 views

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    I've written before about the crisis of inequality in the United States and about the quasi-religious abhorrence of "wealth redistribution" that causes many Americans to oppose tax increases, even on the ultra rich. The conviction that taxation is intrinsically evil has achieved a sadomasochistic fervor in conservative circles-producing the Tea Party, their Republican zombies, and increasingly terrifying failures of governance. Happily, not all billionaires are content to hoard their money in silence. Earlier this week, Warren Buffett published an op-ed in the New York Times in which he criticized our current approach to raising revenue. As he has lamented many times before, he is taxed at a lower rate than his secretary is. Many conservatives pretend not to find this embarrassing. Conservatives view taxation as a species of theft-and to raise taxes, on anyone for any reason, is simply to steal more. Conservatives also believe that people become rich by creating value for others. Once rich, they cannot help but create more value by investing their wealth and spawning new jobs in the process. We should not punish our best and brightest for their success, and stealing their money is a form of punishment. Of course, this is just an economic cartoon. We don't have perfectly efficient markets, and many wealthy people don't create much in the way of value for others. In fact, as our recent financial crisis has shown, it is possible for a few people to become extraordinarily rich by wrecking the global economy. Nevertheless, the basic argument often holds: Many people have amassed fortunes because they (or their parent's, parent's, parents) created value. Steve Jobs resurrected Apple Computer and has since produced one gorgeous product after another. It isn't an accident that millions of us are happy to give him our money. But even in the ideal case, where obvious value has been created, how much wealth can one person be allowed to keep? A trillion doll
Muslim Academy

Genocide of Muslims in Burma - 0 views

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    Burma is a country with about 0.7 million Muslim population out of total 75 million population. Muslims in Burma have been suffering badly since the year 1962 after the military took over. Since then thousands of Muslims have been killed and thousands of women have been raped but the recent wave of violence is worse than all the previous incidents. Almost every family of Muslims is a victim of Buddhist led regime of Burma. Suffering from such deliberate genocide, many of the Muslims have been compelled to leave their houses and migrate to neighboring countries. The most sad and tragic aspect of this genocide is that nobody is willing to speak against this cruelty. The entire mainstream media is showing criminal silence upon this mass killing going on in Burma against Muslims. We are not seeing any projection for Burmese Muslims in British Broadcasting Corporation, Cable News Network; Fox New, Bloomberg, New York Times, Washington Post, Wall Street Journal, Reuters, and other mainstream print and electronic sections of the media. The response from various Human Rights organizations such as Human Rights Watch, Amnesty International, and others is also very tragic and disappointed. These human rights organizations have failed to project this inhuman genocide against Muslims which is going on in Burma. Like is the case with international platforms or so called representatives of the world. The United Nations Organizations also failed to show significant and powerful response against mass killings of Muslims in Burma. The only considerable response we have seen yet is from the Organization of Islamic Conference (OIC) and a few Islamic countries like Turkey, Saudi Arabia and Pakistan etc. Similarly, social media campaigns are also projecting this inhuman incident effectively; there are a number of pages on Facebook and other social media websites that are raising voice for this cause.
Muslim Academy

Response - A Response to Islamophobia World - 0 views

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    Islam is a balanced religion. It believes in respecting all sects, all cultures and all civilizations. All laws relate to Islam are meant for Muslim benefits . It is true that in the recent years, Islam has become a victim of extremism. The purpose of Islam has never been to spread Islamophobia. Islamic ideas have been exploited to give them the shape of Islamophobia. Islam does not define a mosque and state as distinctive. A mosque is there, to provide a forum to the Muslim to unite and pray. The gesture is to promote congregational prayers, which is also an aspect of Christianity. Islam does not believe in forcing its concepts upon Non-Muslims. Unethical Jehad has never been an Islamic thought. It is just that some extremist groups are trying to manipulate Islam and use the Ideals to their benefit. Islam believes in respecting all religions. That is what the Holy Prophet (PBUH) taught the Muslims. Islam does not preach unkindness to any. May it be your enemy or slave. These are not the aspects of Jihad. A woman can legally have a physical relationship with her husband only. It is definitely no concept of Jihad. Islam believes in respecting a woman, not exploiting her dignity and respect. Islam does not allow illegal confiscation of property during Jihad. Islam does not promote destruction. Taxes does not mean degrading. Taxes are defined to establish a system and maintain a proper division of wealth. If Christian and jews had to pay Jiziah, Muslims had to pay Zakat .Brutality is not a custom of Islam. A Muslim derives so much contentment from Islamic values, that they do not need to run away from the religion. Anything , which drives a person from sanity is not liked in Islam. The reason being that all wrongs can be committed, when a person is drunk and is not in a normal state of mind. This is human nature, that we cannot drive contentment until we avenge someone for the bad they have done to us. However Islam prefers forgiveness. Sometimes a harsh punishment
Muslim Academy

Anti U.S. protests in Pakistan - 0 views

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    Series of protests took place all over the world and didn't spare Pakistan - Muslim country. Muslims around the country came up with huge anger and disappointment against the making of anti-Islam film. In many other parts of the world, protests captured huge attention of the international media as U.S. embassies were burnt and stormed. For instance, Egypt, Syria, Yemen etc. Muslims gathered in a great number and raised their voice against the making of the film. In some parts of the world, U.S. flag had been burnt and replaced with a black flag having words written on it as "There is no God but God, and Mohammad is his messenger" A small budget movie named "innocence of the Muslims" was made by an individual of California and put over the internet. This movie didn't get any attention until the subtitles were poste din Arabic and sent to the Egyptian journalists. Movie made humiliates the sentiments of the Muslims as it tried to shun the image of beloved Prophet (peace and blessings upon him). Movie made touches the themes of paedophilia and homosexuality. In Pakistan, security measured were tightened by the local police and made sure no violence hit and destroy U.S. embassy. Recently, violence hit the security of the U.S. embassies in many Muslim countries. Many U.S. embassies such as in Egypt, Libya, Yemen were stormed by the protestors greatly. The brazen attack on the U.S embassy also killed an American; the angry souls were tickled by "video linked to Florida pastor Terry Jones, whose public burning of the Koran in 2010 led to deadly protests in Afghanistan. The film reportedly mocks the prophet Muhammad." as per the sources.
thinkahol *

David Foster Wallace on Political thinking in America - YouTube - 0 views

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    Edited version of the ZDFmediatek interview with David Foster Wallace. This version offers David Foster Wallace's ideas, without repetitions, long pauses, interviewer's comments. Although some cuts may appear rough, there is no attempt at editorial bias or content manipulation. Mr. Wallace's archives (books in his library, notes, and writings) have been recently acquired by the Harry Ransom Center at the University of Texas Austin.
Muslim Academy

Bilawal Bhutto in love with Hina Rabbani Khar? - 0 views

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    Time and again Pakistan has known by the violence in all sectors of its country. Be it wars or terrorism, Pakistan has always made high news on the world map. Recently, the rumor doing the round in Islamic country is the famous link-up between Pakistan President Asif Ali Zardari son Bilawal Bhutto is seeing Pakistan foreign minister Hina rabbani khar. World is aghast at knowing this news a sits nearly impossible to believe such thing. We have huge respect for both the parties and the age difference is apparent between them. Hina rabbani khar is 35 years old lady who is also married to a business man and has two daughters whereas Bilawal Bhutto zardari is 24 years old. We being Muslim should not indulge ourselves into the rumors doing rounds with anyone's personal life. The news was broken by a Bangladeshi tabloid that apparently claimed to have an ongoing Affair between the Pakistani foreign minister Hina Rabbani Khar and chairman of Pakistan people's party Bilawal Bhutto zardari.
thinkahol *

With Rumored Manhunt for Wikileaks Founder and Arrest of Alleged Leaker of Video Showin... - 0 views

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    Pentagon investigators are reportedly still searching for Wikileaks co-founder Julian Assange, who helped release a classified US military video showing a US helicopter gunship indiscriminately firing on Iraqi civilians. The US military recently arrested Army Specialist Bradley Manning, who may have passed on the video to Wikileaks. Manning's arrest and the hunt for Assange have put the spotlight on the Obama administration's campaign against whistleblowers and leakers of classified information. We speak to Daniel Ellsberg, who's leaking of the Pentagon Papers has made him perhaps the nation's most famous whistleblower; Birgitta Jónsdóttir, a member of the Icelandic Parliament who has collaborated with Wikileaks and drafted a new Icelandic law protecting investigative journalists; and Glenn Greenwald, political and legal blogger for Salon.com. [includes rush transcript]
thinkahol *

Good Government vs. Less Government « The Baseline Scenario - 0 views

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    Recently, a controversy raged in the blogosphere about whether neo-liberalism has been a bane or a boon for the world economy. The argument is rather coarse, in that it fails to distinguish between the various elements of neo-liberalism, or moderate deregulation vs. extreme deregulation. But if we take the argument at face value, one of the major claims of neoliberals is that countries in the world which are more neoliberal are more successful (because they are more neoliberal). I disagree. My disagreement is not with the raw correlation between the Heritage Index and Per Capita GDP. A number is a number. My disagreement is with the composition of the index itself, and interpreting this correlation as causation between neo-liberalism and 'good things.' My primary contention below is that many of these measures used in the composite Heritage Index have nothing to do with less government, and a lot more to do with good government. It is these measures of good government that correlate to economic growth and drive the overall correlation between the "Freedom Index" and positive outcomes. Secondarily, I will argue that many of the other items in the index (like investment freedom) are not causes of growth, but rather outcomes of growth.
thinkahol *

Olbermann on Obama's assassination program - 0 views

  • Anyone who pledges unconditional, absolute fealty to a politician -- especially 18 months before an election -- is guaranteeing their own irrelevance.
  • Indeed, as I've documented before -- virtually every country that suffers horrible Terrorist attacks -- Britain, Spain, India, Indonesia -- tries the accused perpetrators in its regular court system, on their own soil, usually in the city that was attacked.  The U.S. -- Land of the Free and Home of the Brave -- stands alone in being too afraid to do so.
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    By Glenn GreenwaldHere again, we see one of the principal and longest-lasting effects of the Obama presidency: to put a pretty, eloquent, progressive face on what (until quite recently) was ostensibly considered by a large segment of the citizenry to be
thinkahol *

Think Progress » Ted Olson To Chris Wallace On Marriage Equality: 'Would You ... - 0 views

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    This morning, Ted Olson - the conservative lawyer who represented President Bush in Bush v. Gore - appeared on Fox News Sunday to discuss his recent victory in overturning Proposition 8, which banned same-sex marriages in California. Throughout the interview, host Chris Wallace attempted to trip up his guest with a series of familiar Republican talking points, all of which Olson repudiated.
thinkahol *

Reagan insider: GOP destroyed economy Paul B. Farrell - MarketWatch - 0 views

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    "How my G.O.P. destroyed the U.S. economy. Yes, that is exactly what David Stockman, President Ronald Reagan's director of the Office of Management and Budget, wrote in a recent New York Times op-ed piece, 'Four Deformations of the Apocalypse.'
thinkahol *

An illustrated guide to the latest climate science « Climate Progress - 0 views

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    "In 2009, the scientific literature caught up with what top climate scientists have been saying privately for a few years now: * Many of the predicted impacts of human-caused climate change are occurring much faster than anybody expected - particularly ice melt, everywhere you look on the planet. * If we stay anywhere near our current emissions path, we are facing incalculable catastrophes by century's end, including rapid sea level rise, massive wildfires, widespread Dust-Bowlification, large oceanic dead zones, and 9°F warming - much of which could be all but irreversible for centuries. And that's not the worst-case scenario! * The consequences for human health and well being would be extreme. That's no surprise to anybody who has talked to leading climate scientists in recent years, read my book Hell and High Water (or a number of other books), or followed this blog. Still, it is a scientific reality that I don't think more than 2 people in 100 fully grasp, so I'm going to review here the past year in climate science. I'll focus primarily on the peer-reviewed literature, but also look at some major summary reports."
thinkahol *

The FBI successfully thwarts its own Terrorist plot - Glenn Greenwald - Salon.com - 0 views

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    There is, as usual, a complete lack of healthy skepticism over the Government's most recent terrorism claims
thinkahol *

No evidence that WikiLeaks releases have hurt anyone - 11/28/2010 | MiamiHerald.com - 0 views

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    American officials in recent days have warned repeatedly that the release of documents by WikiLeaks could put people's lives in danger. But despite similar warnings before the previous two releases of classified U.S. intelligence reports by the website, U.S. officials concede that they have no evidence to date that the documents led to anyone's death.
thinkahol *

On the Death Sentence by John Paul Stevens | The New York Review of Books - 0 views

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    David Garland is a well-respected sociologist and legal scholar who taught courses on crime and punishment at the University of Edinburgh before relocating to the United States over a decade ago. His recent Peculiar Institution: America's Death Penalty in an Age of Abolition is the product of his attempt to learn "why the United States is such an outlier in the severity of its criminal sentencing." Thus, while the book primarily concerns the death penalty, it also illuminates the broader, dramatic differences between American and Western European prison sentences.
thinkahol *

Documentary reveals the unhealthy profits of the pharmaceutical industry - 0 views

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    The United States healthcare industry is the world's biggest - with $300 billion a year spent on prescription drugs alone, and rising. But recent months have seen health scandal after health scandal, with some of the world's biggest pharmaceutical companies fined billions of dollars.
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