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Judge Orders UBS to Give Up Client List
As we reported yesterday, the Justice Department sought a court order against UBS, to force the Swiss banking giant to give up the identify of its U.S. shareholders. A long court battle was predicted, and now it has begun.
From the International Herald Tribune:
An order signed by Judge Joan A. Lenard of U.S. District Court in Miami gives investigators the authority to request the information from UBS. A spokesman for the Internal Revenue Service said the agency, which was working with U.S. prosecutors, was expected to serve UBS with a summons for names within several days. The bank can either turn the names over -- an unprecedented move for a Swiss bank under secrecy laws -- or appeal the judge's ruling.
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Phil Gramm was an influential Member of Congress.
Anyone wondering HOW MANY US CONGRESSMEN AND SENATORS are UBS private bank accounts?
Anyone wondering HOW MANY US CONGRESSMEN AND SENATORS took UBS' advice to avoid taxes.
My bet is SEVERAL. If not MANY.
July 2, 2008 10:01 AM | Reply | Permalink
Perhaps the threat of the US becoming a tax dodge for the Euro might create some political pressure on the swiss and give this some traction.
July 2, 2008 10:29 AM | Reply | Permalink
Pretty sure nobody cares about the names of UBS shareholders, but regulators and prosecutors want the CLIENT list.
July 2, 2008 10:51 AM | Reply | Permalink
Yeah, Kate: Does the court order allow them to ask for the *client* list, or the *shareholder* list. Big difference. (I'm assuming it's the client list, but that's not what the story says.)
Thanks!
-- ARG
July 2, 2008 11:25 AM | Reply | Permalink
Are there any reporters who have the courage to ask the direct question "Do you have an account with UBS"?
I know who I would ask first, and I would also inquire if his wife's trust has any money there also.
July 2, 2008 10:54 AM | Reply | Permalink
Theoretically, the information should be in every Member's Personal Financial Disclosure.
www.opensecrets.org/pfds
July 2, 2008 11:02 AM | Reply | Permalink
I'll bet old NANCY "facelift" PELOSIWHORE has alot of explaining to do...with her reported assets amounting to a figure between 20 million--100 million dollars?
THAT IS A BIG PILE OF MONEY....and...we saw how proud she was when she used the facts and scandal that I offered up to the Dems...to BENEFIT THE DEMS WITH LOBBYING PAYOFFS FOR THEIR CAMPAIGNS?
HOW MUCH OF that campaign warchest...gets laundered and swindled into bundles of cash to purchase an "elite deviant" lifestyle while WHITE COLLAR PROFESSIONALS ARE LIVING OUT OF THEIR CARS AT GATED CAR PARKS FOR UNEMPLOYED PROFESSIONALS IN CALIFORNIA?
July 2, 2008 12:48 PM | Reply | Permalink
For example, here's a list of lawmakers who reported having USA deposit accounts with UBS in 2006 (and their range of value):
Name Value
Lamar Alexander (R-Tenn) $50,001 to $100,000
John Cornyn (R-Texas) $31,003 to $115,000
Mike Conaway (R-Texas) $15,001 to $50,000
Tom Allen (D-Maine) $15,001 to $50,000
Kay Granger (R-Texas) $15,001 to $50,000
Kent Conrad (D-ND) $2,002 to $30,000
Maria Cantwell (D-Wash) $1,001 to $15,000
Melissa Hart (R-Pa) $1,001 to $15,000
Mike Simpson (R-Idaho) $556
Barack Obama (D-Ill) N/A to $1,000
July 2, 2008 11:22 PM | Reply | Permalink