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Posted by: pc25 10 months, 1 week ago
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pc2510 months, 1 week ago
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http://townhall.com/columnists/DianaWest/2009/02/1...
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Diana West :: Townhall.com Columnist
Who Attacked Our Economy? Why Does No One Care?
I want you to read something. It's a snatch of transcript from a Jan. 27 C-SPAN interview with Rep. Paul Kanjorski, D-Pa., that has received zero coverage in what we think of as the mainstream media.
To set the C-SPAN scene, Kanjorski is harkening back to the middle of last September, when, as it happens, John McCain was enjoying his brief lead in the presidential polls and the economy as we knew it was imploding. Here's what Kanjorski said:
"I was there when the Secretary (of the Treasury Hank Paulson) and the Chairman of the Federal Reserve (Ben Bernanke) came those days and talked to members of Congress about what was going on. It was about Sept. 15. Here's the facts, we don't even talk about these things.
"On Thursday at about 11 o'clock in the morning, the Federal Reserve noticed a tremendous drawdown of money market accounts in the United States to the tune of $550 billion, as being drawn out in the matter of an hour or two.
"The Treasury opened up its window to help. It pumped $105 billion into the system and quickly realized that they could not stem the tide. We were having an electronic run on the banks.......-
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nostalgia10 months, 1 week ago
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I can't help but believe the Feds have to know where this money was going
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They track all large transfers which are done electronically
That $550 billion went somewhere.
Wonder if this is connected??
January 9, 2009
Swiss Bank UBS Rats Out US Account Holders
This is a shocking, shocking development. On the other hand, maybe it's not a surprise at all.
Swiss Bank UBS is closing down accounts held by US citizens and sending them checks. And it's telling the IRS the amounts and who is receiving them. Accountholders have the option of moving the money to other offshore accounts -- but the IRS will still be informed of who has what amount of money.
So much for the whole concept of a Swiss Bank Account! Anonymity. Freedom from confiscatory taxes!
One can only imagine the pressure the US government brought to bear on Switzerland. After all, through thick and thin, Switzerland has remained forever and always Neutral. Even the Nazi war machine left them alone. They were able to withstand all demands to identify account holders. That's what the Swiss Bank Account was all about! And numbered swiss bank accounts. And bearer bonds. The stuff of exotic international intrigue. No more!
http://dashxdr.blogspot.com/2009/01/swiss-bank-ubs...-
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barbb3710 months, 1 week ago
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Read this:
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http://www.washingtonpost.com/wp-dyn/content/artic...
"The indictment by a grand jury in Florida, which was unsealed this week, accused executive Raoul Weil of conspiring with a host of others at the bank to market Swiss bank secrecy to American clients and help them dodge taxes. A lawyer for Weil denied the charges and said he would seek vindication. Meanwhile, UBS has given U.S. authorities the names of about 70 clients who wired money from UBS accounts in the United States to UBS accounts in Switzerland.
UBS announced in July that it was getting out of the business of offering Swiss accounts to American clients.
Some clients feel hung out to dry. "They're not happy," said lawyer Bryan C. Skarlatos of the firm Kostelanetz & Fink. "They feel like UBS is taking steps to protect itself.""
It only sounds like the wealthy won't be hiding their assets at that bank overseas. It might not be that pressure was brought to bear, it may be a bit of payback for the US screwing up the world economy.
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