Update: someone beat me to this story, and did a better job on it than I did. Since its late and I enjoy the conversation, I hope the village mob won't clamor for me to delete this. If you do, I'll understand, but it is a slow night ;)
earlier diary here:
http://www.dailykos.com/...
This is amazing. 22 minutes ago from the NY Times:
In the hush-hush world of Swiss banking, the unthinkable is happening: secrets are spilling into the open.
More below:
Department of Justice Press Release
UBS, the largest bank in Switzerland, agreed on Wednesday to divulge the names of well-heeled Americans whom the authorities suspect of using offshore accounts at the bank to evade taxes. The bank admitted conspiring to defraud the Internal Revenue Service and agreed to pay $780 million to settle a sweeping federal investigation into its activities.
I haven't seen Swiss banking being discussed a whole lot lately, but massive financial fraud can't take place without somewhere to stash the cash. Swiss Banks, which by law have never divulged information on the accounts they hold, are the obvious place.
The implications are staggaring. Or it may amount to nothing. Somehow, though, I suspect we'll be seeing more headlines shortly.
Who are you curious about? Number one on my list is Cheney/Halliburton, but more interesting I think will be individuals who we've never heard of, bilking the system and stashing the money.
This is nothing short of amazing.
Read the entire article here here