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US Taxpayers Bailing out FOREIGN Banks

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Anonymous

Guest
I stole this off another site-...First question comes to mind- will this include McBusch's number 1 buddie and economic advisor- Phil Gramms UBS (Swiss) Bank that he is Vice CEO of- and that has admitted to helping rich US businessmen find foreign accounts so they could hide their money from the IRS- costing the taxpayer BILLIONS $....They've already filed Billions $ of claims against US insurance companies, bringing them down, for their inept trading and lending...

What a circle of corruption- and McBusch is right in the center of it :( ....We can't survive 4 more years of this.....


In a change from the original proposal sent to Capitol Hill, foreign-based banks with big U.S. operations could qualify for the Treasury Department’s mortgage bailout, according to the fine print of an administration statement Saturday night.

The theory, according to a participant in the negotiations, is that if the goal is to solve a liquidity crisis, it makes no sense to exclude banks that do a lot of lending in the United States.

Treasury Secretary Henry Paulson confirmed the change on ABC's "This Week," telling George Stephanopoulos that coverage of foreign-based banks is "a distinction without a difference to the American people."

"If a financial institution has business operations in the United States, hires people in the United States, if they are clogged with illiquid assets, they have the same impact on the American people as any other institution," Paulson said.

"That's a distinction without a difference to the American people. The key here is protecting the system. ... We have a global financial system, and we are talking very aggressively with other countries around the world and encouraging them to do similar things, and I believe a number of them will. But, remember, this is about protecting the American people and protecting the taxpayers. and the American people don't care who owns the financial institution. If the financial institution in this country has problems, it'll have the same impact whether it's the U.S. or foreign."
 
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Anonymous

Guest
ohno.jpg
 

Mike

Well-known member
Phil Gramms UBS (Swiss) Bank that he is Vice CEO of- and that has admitted to helping rich US businessmen find foreign accounts so they could hide their money from the IRS-

Show us where Gramm admitted to that.

Or are you caught lying again??? :lol: :lol:
 
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Anonymous

Guest
Mike said:
Phil Gramms UBS (Swiss) Bank that he is Vice CEO of- and that has admitted to helping rich US businessmen find foreign accounts so they could hide their money from the IRS-

Show us where Gramm admitted to that.

Or are you caught lying again??? :lol: :lol:

I didn't say Gramm- I said UBS bank....Some UBS employees have already admitted the actions, and are co-operating in the continuing investigation..As far as I know Gramm hasn't been charged or tied in yet- but he was the Vice CEO of UBS in charge of US Marketing....

It was reported on June 22, 2008 that the US Federal Bureau of Investigation had made a formal request to travel to Switzerland to probe a multi-million-dollar tax evasion case involving UBS.[22] The New York Times reported that the case could involve some 20,000 US citizens. This is reported to be a consequence of information revealed in 2006 by a UBS client at risk of prosecution for US tax evasion[23].
===============
On July 17, 2008 the US Senate disclosed that the U.S. loses around $100 billion annually due to offshore tax evasion.[24] The Senate report accused Swiss bank UBS AG and Liechtenstein's LGT Group for allegedly marketing tax-evasion strategies to wealthy Americans.[25] U.S. clients hold about 19,000 accounts at UBS, with an estimated $18 billion to $20 billion in assets, in Switzerland, according to the findings from the Senate probe and Justice Department prosecutors.
http://en.wikipedia.org/wiki/UBS_AG
 

hopalong

Well-known member
Oldtimer said:
Mike said:
Phil Gramms UBS (Swiss) Bank that he is Vice CEO of- and that has admitted to helping rich US businessmen find foreign accounts so they could hide their money from the IRS-

Show us where Gramm admitted to that.

Or are you caught lying again??? :lol: :lol:

I didn't say Gramm- I said UBS bank....Some UBS employees have already admitted the actions, and are co-operating in the continuing investigation..As far as I know Gramm hasn't been charged or tied in yet- but he was the Vice CEO of UBS in charge of US Marketing....

It was reported on June 22, 2008 that the US Federal Bureau of Investigation had made a formal request to travel to Switzerland to probe a multi-million-dollar tax evasion case involving UBS.[22] The New York Times reported that the case could involve some 20,000 US citizens. This is reported to be a consequence of information revealed in 2006 by a UBS client at risk of prosecution for US tax evasion[23].
===============
On July 17, 2008 the US Senate disclosed that the U.S. loses around $100 billion annually due to offshore tax evasion.[24] The Senate report accused Swiss bank UBS AG and Liechtenstein's LGT Group for allegedly marketing tax-evasion strategies to wealthy Americans.[25] U.S. clients hold about 19,000 accounts at UBS, with an estimated $18 billion to $20 billion in assets, in Switzerland, according to the findings from the Senate probe and Justice Department prosecutors.
http://en.wikipedia.org/wiki/UBS_AG


Yes you DID say that!!! LIAR
 

TSR

Well-known member
hopalong said:
Oldtimer said:
Mike said:
Show us where Gramm admitted to that.

Or are you caught lying again??? :lol: :lol:

I didn't say Gramm- I said UBS bank....Some UBS employees have already admitted the actions, and are co-operating in the continuing investigation..As far as I know Gramm hasn't been charged or tied in yet- but he was the Vice CEO of UBS in charge of US Marketing....

It was reported on June 22, 2008 that the US Federal Bureau of Investigation had made a formal request to travel to Switzerland to probe a multi-million-dollar tax evasion case involving UBS.[22] The New York Times reported that the case could involve some 20,000 US citizens. This is reported to be a consequence of information revealed in 2006 by a UBS client at risk of prosecution for US tax evasion[23].
===============
On July 17, 2008 the US Senate disclosed that the U.S. loses around $100 billion annually due to offshore tax evasion.[24] The Senate report accused Swiss bank UBS AG and Liechtenstein's LGT Group for allegedly marketing tax-evasion strategies to wealthy Americans.[25] U.S. clients hold about 19,000 accounts at UBS, with an estimated $18 billion to $20 billion in assets, in Switzerland, according to the findings from the Senate probe and Justice Department prosecutors.
http://en.wikipedia.org/wiki/UBS_AG


Yes you DID say that!!! LIAR

No he didn't. Now I agree OT could have worded it better but I interpret the posting as saying the bank has helped rich US businessmen find foreign accounts to hide their money from the IRS. And Gramm just happens to be CEO of the bank. Don't you love, (was it Paulsen) saying the American people don't mind helping foreign banks out. That's generally what he said. Who does this guy think he's speaking for??? :x Not me. Standard mo for this administration.
 

Mike

Well-known member
TSR said:
hopalong said:
Oldtimer said:
I didn't say Gramm- I said UBS bank....Some UBS employees have already admitted the actions, and are co-operating in the continuing investigation..As far as I know Gramm hasn't been charged or tied in yet- but he was the Vice CEO of UBS in charge of US Marketing....


Yes you DID say that!!! LIAR

No he didn't. Now I agree OT could have worded it better but I interpret the posting as saying the bank has helped rich US businessmen find foreign accounts to hide their money from the IRS. And Gramm just happens to be CEO of the bank. Don't you love, (was it Paulsen) saying the American people don't mind helping foreign banks out. That's generally what he said. Who does this guy think he's speaking for??? :x Not me. Standard mo for this administration.

OT is a liar. He not only used the word "CEO" in his explanation of Gramm (HE WAS NOT A CEO BUT ONLY A VICE-CHARMAN IN A BRANCH OF A UBS OFFICE) but eluded to Gramm "admitting" he helped hide money from the IRS.

Here is an excerpt from a story in Slate Magazine that is AGAINST Senator Gramm in his UBS/economic perceptions:

"Critics have charged that Gramm's action as a senator helped lay the groundwork for some of the problems in the housing and oil markets. But it's hard to pin any of the UBS debacles on the former Texas senator. At UBS, Gramm held the post of vice chairman, a position Michelle Leder dubbed in these pages as "the greatest job in business" for its combination of high status and low work rate. Gramm was a lobbyist and adviser, not an operating executive. And he had nothing to do with the forces that impelled banks and banking executives into foolish behavior in recent years; cheap money, greed, and a bubble mentality are far bigger than Gramm."
 

hopalong

Well-known member
TSR said:
hopalong said:
Oldtimer said:
I didn't say Gramm- I said UBS bank....Some UBS employees have already admitted the actions, and are co-operating in the continuing investigation..As far as I know Gramm hasn't been charged or tied in yet- but he was the Vice CEO of UBS in charge of US Marketing....


Yes you DID say that!!! LIAR

No he didn't. Now I agree OT could have worded it better but I interpret the posting as saying the bank has helped rich US businessmen find foreign accounts to hide their money from the IRS. And Gramm just happens to be CEO of the bank. Don't you love, (was it Paulsen) saying the American people don't mind helping foreign banks out. That's generally what he said. Who does this guy think he's speaking for??? :x Not me. Standard mo for this administration.

I read it differently, another attempt as misinformation by the far left loonies.
 

aplusmnt

Well-known member
OT has to be the leader of lies on this website. Many may not agree with each others spin or opinions. But OT just flat out lies and then on top of it he is one of the largest posters on this site. Kind of a shame that we can not even have a reasonable discussion with him or his topics because so much fact checking has to be done just to see if there is any truth in them! Kind of takes the fun out of discussing the topics on here!
 
A

Anonymous

Guest
I think you may be right that he is most described as the vice chairman of UBS Securities, the Swiss bank’s investment banking arm...I've seen him described as their US investment banker- their lobbyiest- their US manager- several ways....

I guess when the old crook takes the witness stand they'll just have to ask him.... :wink:
 

kolanuraven

Well-known member
Oldtimer said:
I stole this off another site-...First question comes to mind- will this include McBusch's number 1 buddie and economic advisor- Phil Gramms UBS (Swiss) Bank that he is Vice CEO of- and that has admitted to helping rich US businessmen find foreign accounts so they could hide their money from the IRS- costing the taxpayer BILLIONS $....They've already filed Billions $ of claims against US insurance companies, bringing them down, for their inept trading and lending...

What a circle of corruption- and McBusch is right in the center of it :( ....We can't survive 4 more years of this.....


In a change from the original proposal sent to Capitol Hill, foreign-based banks with big U.S. operations could qualify for the Treasury Department’s mortgage bailout, according to the fine print of an administration statement Saturday night.

The theory, according to a participant in the negotiations, is that if the goal is to solve a liquidity crisis, it makes no sense to exclude banks that do a lot of lending in the United States.

Treasury Secretary Henry Paulson confirmed the change on ABC's "This Week," telling George Stephanopoulos that coverage of foreign-based banks is "a distinction without a difference to the American people."

"If a financial institution has business operations in the United States, hires people in the United States, if they are clogged with illiquid assets, they have the same impact on the American people as any other institution," Paulson said.

"That's a distinction without a difference to the American people. The key here is protecting the system. ... We have a global financial system, and we are talking very aggressively with other countries around the world and encouraging them to do similar things, and I believe a number of them will. But, remember, this is about protecting the American people and protecting the taxpayers. and the American people don't care who owns the financial institution. If the financial institution in this country has problems, it'll have the same impact whether it's the U.S. or foreign."





McBusch's............I like your spelling better :wink:
 

TexasBred

Well-known member
Oldtimer said:
I think you may be right that he is most described as the vice chairman of UBS Securities, the Swiss bank’s investment banking arm...I've seen him described as their US investment banker- their lobbyiest- their US manager- several ways....

I guess when the old crook takes the witness stand they'll just have to ask him.... :wink:

Is any of that illegal?? I sort of like the name "Foreclosure Phil". People that don't pay their monthly payments should get thrown out on their butts.
 
A

Anonymous

Guest
TexasBred said:
Oldtimer said:
I think you may be right that he is most described as the vice chairman of UBS Securities, the Swiss bank’s investment banking arm...I've seen him described as their US investment banker- their lobbyiest- their US manager- several ways....

I guess when the old crook takes the witness stand they'll just have to ask him.... :wink:

Is any of that illegal?? I sort of like the name "Foreclosure Phil". People that pay their monthly payments should get thrown out on their butts.

I would hope the actions of the bank- or the folks involved in the bank doing this are illegal....Or else they shouldn't be allowed to operate within the US...

It was reported on June 22, 2008 that the US Federal Bureau of Investigation had made a formal request to travel to Switzerland to probe a multi-million-dollar tax evasion case involving UBS.[22] The New York Times reported that the case could involve some 20,000 US citizens. This is reported to be a consequence of information revealed in 2006 by a UBS client at risk of prosecution for US tax evasion[23].
===============
On July 17, 2008 the US Senate disclosed that the U.S. loses around $100 billion annually due to offshore tax evasion.[24] The Senate report accused Swiss bank UBS AG and Liechtenstein's LGT Group for allegedly marketing tax-evasion strategies to wealthy Americans.[25] U.S. clients hold about 19,000 accounts at UBS, with an estimated $18 billion to $20 billion in assets, in Switzerland, according to the findings from the Senate probe and Justice Department prosecutors.
http://en.wikipedia.org/wiki/UBS_AG
 

Mike

Well-known member
Let's see............................

How many years have I heard of those Secret Swiss Bank Accounts that are shielding U.S. money from the IRS?

40-50? All my life, that's how long!!!!

Yea buddy! Phil Gramm started it all!!!!!!!!!!!!!!!!!!
 
A

Anonymous

Guest
TexasBred said:
OT..why would you hope theywere "illegal'???

I would hope that marketing tax evasion strategies would fall under the RICO conspiracy statutes- as from the part of the hearings I watched it was apparent they were knowingly doing this to help people smuggle out and evade income that was taxable under the US tax laws.....
 
I heard from a radio talk show, that now if you leave the country
you are taxed at 45% on the money you plan to take with you.

Don't know how this affects sending money to a foreign bank
when you are in the U.S.A., however.
 

TexasBred

Well-known member
Oldtimer said:
TexasBred said:
OT..why would you hope theywere "illegal'???

I would hope that marketing tax evasion strategies would fall under the RICO conspiracy statutes- as from the part of the hearings I watched it was apparent they were knowingly doing this to help people smuggle out and evade income that was taxable under the US tax laws.....

OT..go to Nassau sometimes...or The Caymen Islands. Nothing but banks from all over the world...ever wonder why?? Bet there's some big time "democrat" money in those banks as well.
 
A

Anonymous

Guest
TexasBred said:
Oldtimer said:
TexasBred said:
OT..why would you hope theywere "illegal'???

I would hope that marketing tax evasion strategies would fall under the RICO conspiracy statutes- as from the part of the hearings I watched it was apparent they were knowingly doing this to help people smuggle out and evade income that was taxable under the US tax laws.....

OT..go to Nassau sometimes...or The Caymen Islands. Nothing but banks from all over the world...ever wonder why?? Bet there's some big time "democrat" money in those banks as well.

I don't care if its Switzerland- the Caymens- Dems or Repubs- if they are conspiring to hide earnings/assets they should be charged...

And all these accounts are something I watched the Congressional Hearings and especially Senator Conrad who is on the Finance Committee and is the Chairman of the Subcommittee on Taxation, IRS Oversight, and Long-Term Growth say they want to go after-- and that these rich elitists shouldn't be able to use foreign banks to hide taxable income- when Joe Blow on the streets picking up the costs...

Or do you think like GW does- the rule of law shouldn't pertain to the rich and powerful :???:
 
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