Chain reaction. I was wondering why now all this?? Why not years ago? Would like to hear opinions on this.

Well the cynical view would be that
1. the current top politicians in these countries do not have a lot of black money stored away in tax havens
2. when the huge costs of these of these recent economy stimulus & bank saving actions arrive in peoples tax bills then they can (unfairly) blame the tax havens.

I agree with marton plus it is much easier to go after UBS now. They admitted fraud on a fairly large scale actively recruiting customers illegally on foreign soil so they are in a very weak position.
2 years ago any request would have just been pretty much ignored.

India does not seem far behind:

http://timesofindia.indiatimes.com/n...ow/4928503.cms

Talk is cheap. India is a very corrupt country. Many wealthy businessmen and corrupt politicians have stashed their ill-gotten gains offshore. They have no motivation to crackdown on the "tax havens". They will bark but have no bite.

How are things in Singapore?

actually that was just a guess but look!-

http://network.nationalpost.com/np/b...itzerland.aspx

This article is upsetting. The US hypocrisy has no limit (the author is American).
Delaware and Nevada are the perfect conduit to hide money as long as you are not a US citizen and do not reside in the US. Your name does not appear anywhere.
Billions of $ from Russia or South America are recycled and hidden that way every year. There is never any mention of that fact in the US media. A little bit on CNBC but that's it.

So the current Obama administration decided it is time to clean up a bit. The Bush administration was all to happy to leave things just the way they are.

I am not surprised.

sorry you have it all mixed up Cashboy

CDS are not IOU's or bearer notes to be 'pased around'
they are contractual agreements between two parties.

tell them to take a hike.

they have no business (and more important, no legal right) to ask you any of that. they have an obligation to check and verify the source of funds you deposit with them. that's it.

That is what I thought too.

Barack Obama is playing golf with his buddy... Robert Wolf, the president of UBS in the US. That was today in Martha's vineyard. Is the witchhunt over??




http://www.letemps.ch/Page/Uuid/a27a...e_Barack_Obama

Hmmmmmmmmm.

Well,
Not directly related to UBS, I know ...
Some pull out before the end of the witch hunt
And don't wait for the invitation for that round of golf

http://www.swissinfo.ch/eng/news_dig...33629000&ty=nd
Wegelin bank to pull out of US

Swiss private bank Wegelin announced on Tuesday that it is to stop doing business in the United States.

The St Gallen-based bank, Switzerland's oldest, said the decision had been taken in response to stricter measures introduced in the US against tax dodgers and planned changes to estate tax, which would make some non-US citizens liable to tax if they inherited US securities ...

__________________
Everything is simple when it's clearly explained

Wegelin is not only terminating its US activities. W is also advising its Swiss and other clients to never purchase any US securities. Reasons: onerous reporting requirements and liability to US death taxes on such securities.

Wonder whether other Banks follow this example and the consequences on US stocks.

With the vendor financing off
And the imports down due to consumers saving
NODs increasing
Unemployment at 10% (or on the high side of 15 according to shadowstats)
... etc etc
and then capital outflow
Down?

The US is becoming a terrible place to do business. I have been very involved with Sarbanes-Oxley and can testify about it. It has virtually killed the creation of new companies in the US.

which is wonderful for Asia and Europe...

and even if they did have the legal right, you shouldn't disclose that type of information by phone. It could easily have been a fraudster trying to get your personal details. Be very careful. I never disclose any information by phone unless I either know the person personally or I am the one who dialled the number so I can be sure that I know who I'm talking to.