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Old 04.01.2013, 14:27
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Re: Swiss bank Wegelin fights US summons

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Any word on why they chose to reverse course and just plead and pay (and go completely out of business)? Seems really strange.
Spend a lot of money fighting something that they're likely to lose given the Swiss government's tendency to do whatever the Americans want lately, while at the same time losing the ability to invest in American markets (e.g. their public FATCA stance), or... pay a small fine and take the rest of the money and run.

Seems like a smart, if regrettable, decision to me.
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