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  #1241  
Old 24.08.2009, 12:46
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

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Now Canada, encouraged by the US victory, is after UBS.

http://www.google.com/hostednews/afp...rnWqfxGHsR4_cg
Chain reaction. I was wondering why now all this?? Why not years ago? Would like to hear opinions on this.
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  #1242  
Old 24.08.2009, 13:14
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

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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.
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  #1243  
Old 24.08.2009, 22:37
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

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Chain reaction. I was wondering why now all this?? Why not years ago? Would like to hear opinions on this.
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.
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  #1244  
Old 24.08.2009, 22:42
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

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Chain reaction. I was wondering why now all this?? Why not years ago? Would like to hear opinions on this.
India does not seem far behind:

http://timesofindia.indiatimes.com/n...ow/4928503.cms
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  #1245  
Old 24.08.2009, 23:00
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

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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.
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  #1246  
Old 24.08.2009, 23:37
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

How are things in Singapore?

actually that was just a guess but look!-

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

Last edited by hoppy; 24.08.2009 at 23:39. Reason: added a link
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  #1247  
Old 25.08.2009, 00:52
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

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How are things in Singapore?

actually that was just a guess but look!-

http://network.nationalpost.com/np/b...itzerland.aspx
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Zurich: where the crooks visit their money and the gnomes play????
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.
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  #1248  
Old 25.08.2009, 09:31
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

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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.
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.
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  #1249  
Old 25.08.2009, 10:14
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

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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.
I am not surprised.
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  #1250  
Old 25.08.2009, 14:14
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

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I just look at Credit Default Swaps as IOU notes that are swapped for cash or other IOU notes around from one bank to another (you know who passed it on to you) but you don't know who the originator was.
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.
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  #1251  
Old 25.08.2009, 14:17
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

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We have dual citizenship Swiss/US. I received a phone call today from UBS asking me if the funds we have at UBS is all we have or do we have more somewhere else?? And how much? WTF. I was so mad. Lots of people will get these kind of phonecalls now. I am upset. I was also asked about our income, and birthdates of my kids. My husbands job and what he does.
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.
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  #1252  
Old 25.08.2009, 22:14
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

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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.
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  #1253  
Old 26.08.2009, 06:16
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

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
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  #1254  
Old 26.08.2009, 09:15
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

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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.
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  #1255  
Old 26.08.2009, 21:56
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

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 ...
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  #1256  
Old 26.08.2009, 22:02
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

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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 ...
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.
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  #1257  
Old 26.08.2009, 23:19
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

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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?
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  #1258  
Old 26.08.2009, 23:48
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

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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.
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  #1259  
Old 27.08.2009, 01:11
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

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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...
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Old 27.08.2009, 13:18
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

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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.
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.
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