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Skeptical Debunker

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 *

Snapshots of Washington's essence - Salon.com - 0 views

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    I intended to post sporadically or not at all this week, and that's still my plan, but there is a new Washington Post article which contains three short passages that I really want to highlight because they so vividly capture the essence of so much. The article, by Greg Miller, is being promoted by the Post this way: "In 3 years, the Obama administration has built a vast drone/killing operation"; it describes the complete secrecy behind which this is all being carried out and notes: "no president has ever relied so extensively on the secret killing of individuals to advance the nation's security goals." Here is the first beautifully revealing passage:
thinkahol *

Progressives and the Ron Paul fallacies - Salon.com - 0 views

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    The candidate supported by progressives - President Obama - himself holds heinous views on a slew of critical issues and himself has done heinous things with the power he has been vested. He has slaughtered civilians - Muslim children by the dozens - not once or twice, but continuously in numerous nations with drones, cluster bombs and other forms of attack. He has sought to overturn a global ban on cluster bombs. He has institutionalized the power of Presidents - in secret and with no checks - to target American citizens for assassination-by-CIA, far from any battlefield. He has waged an unprecedented war against whistleblowers, the protection of which was once a liberal shibboleth. He rendered permanently irrelevant the War Powers Resolution, a crown jewel in the list of post-Vietnam liberal accomplishments, and thus enshrined the power of Presidents to wage war even in the face of a Congressional vote against it. His obsession with secrecy is so extreme that it has become darkly laughable in its manifestations, and he even worked to amend the Freedom of Information Act (another crown jewel of liberal legislative successes) when compliance became inconvenient.
thinkahol *

t r u t h o u t | Do Not Pity the Democrats - 0 views

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    There are no longer any major institutions in American society, including the press, the educational system, the financial sector, labor unions, the arts, religious institutions and our dysfunctional political parties, which can be considered democratic. The intent, design and function of these institutions, controlled by corporate money, are to bolster the hierarchical and anti-democratic power of the corporate state. These institutions, often mouthing liberal values, abet and perpetuate mounting inequality. They operate increasingly in secrecy. They ignore suffering or sacrifice human lives for profit. They control and manipulate all levers of power and mass communication. They have muzzled the voices and concerns of citizens. They use entertainment, celebrity gossip and emotionally laden public-relations lies to seduce us into believing in a Disneyworld fantasy of democracy.
thinkahol *

Sen. Bernie Sanders: A Real Jaw Dropper at the Federal Reserve - 0 views

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    At a Senate Budget Committee hearing in 2009, I asked Fed Chairman Ben Bernanke to tell the American people the names of the financial institutions that received an unprecedented backdoor bailout from the Federal Reserve, how much they received, and the exact terms of this assistance. He refused. A year and a half later, as a result of an amendment that I was able to include in the Wall Street reform bill, we have begun to lift the veil of secrecy at the Fed, and the American people now have this information.
thinkahol *

End the Land Mine Plague - 0 views

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    There is all too much secrecy and too little open discussion in the political and electoral arenas. Obama's annual weapons destruction report does not tell Americans why he refuses to sign either treaty.
thinkahol *

The real danger from classified leaks - Salon.com - 0 views

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    The administration manipulates secrecy to disseminate beneficial information while supressing what's embarrassing
thinkahol *

America's Secret Empire of Drone Bases - 0 views

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    They increasingly dot the planet.  There's a facility outside Las Vegas where "pilots" work in climate-controlled trailers, another at a dusty camp in Africa formerly used by the French Foreign Legion, a third at a big air base in Afghanistan where Air Force personnel sit in front of multiple computer screens, and a fourth at an air base in the United Arab Emirates that almost no one talks about. And that leaves at least 56 more such facilities to mention in an expanding American empire of unmanned drone bases being set up worldwide.  Despite frequent news reports on the drone assassination campaign launched in support of America's ever-widening undeclared wars and a spate of stories on drone bases in Africa and the Middle East, most of these facilities have remained unnoted, uncounted, and remarkably anonymous - until now. Run by the military, the Central Intelligence Agency, and their proxies, these bases - some little more than desolate airstrips, others sophisticated command and control centers filled with computer screens and high-tech electronic equipment - are the backbone of a new American robotic way of war.  They are also the latest development in a long-evolving saga of American power projection abroad - in this case, remote-controlled strikes anywhere on the planet with a minimal foreign "footprint" and little accountability.Using military documents, press accounts, and other open source information, an in-depth analysis by TomDispatch has identified at least 60 bases integral to U.S. military and CIA drone operations.  There may, however, be more, since a cloak of secrecy about drone warfare leaves the full size and scope of these bases distinctly in the shadows.
thinkahol *

Obama argues his assassination program is a "state secret" - Glenn Greenwald - Salon.com - 0 views

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    When many cynics thought it impossible, the President reaches an all-new low in his abysmal civil liberties record
thinkahol *

Obama argues his assassination program is a "state secret" - Glenn Greenwald - Salon.com - 0 views

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    When many cynics thought it impossible, the President reaches an all-new low in his abysmal civil liberties record
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