DOJ Tells UBS They Must Release Names Of 52,000 U.S. Tax Cheats
By Logan Murphy Wednesday Jul 01, 2009 11:00am
It is curious that this AP article left out one giant aspect of the UBS scandal -- the role former GOP Senator Phil Gramm may have played in their illegal activity.
MIAMI – Swiss bank UBS AG "systematically and deliberately" violated U.S. law by dispatching private bankers to recruit wealthy Americans interested in evading taxes and must be forced to reveal the identities of 52,000 of those clients, the Justice Department said in a court filing Tuesday.
The filing, which comes amid several published reports that the case may be near settlement, urges U.S. District Judge Alan S. Gold to hold UBS accountable for conducting years of illegal business on U.S. soil — business that earned the bank more than $100 million in fees but cost the U.S. hundreds of millions of dollars in unpaid taxes.
"It is time for UBS to face the consequences that it has brought upon itself," said Justice Department tax attorney Stuart Gibson in the 55-page filing. "The United States has proven its case for enforcement."
As Jon Perr wrote earlier this year, Gramm was instrumental in handcuffing the IRS while he was in the Senate, and may have paved the way for UBS to commit their crimes once he became their Vice Chairman in 2002.
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BUt I'm not gonna hold my breath.
*stretch*
Perhaps the two men in the picture?
DID play in any illegal UBS activity, only that he "may" have played one, it is hard to either fault AP for not mentioning it or to assert it is a "giant aspect."
This is the AP we're talking about. Unless it comes in pre-made press release, the reporter/writer doesn't do any historical perspective.
AP writers are actually goldfish.
The rule of law is all in your head!
i know the bulk of people here will not agree with this sentiment/suggestion (i am morally compromised, i know), but i honestly think that people should amass around phil gramm's house, follow him around, make him as miserable as he has made millions of others. note: i am NOT suggesting ANY violence nor destruction, just merely always being present to let phil gramm know that he is:
1) hated
2) despised
3) guilty
4) known as the guilty party
the price of using your position to screw millions, for your own gain, should be extremely high.
He has abused his position time and time again in Congress to enrich himself and his friends and even his wife.
He led the congressional charge to deregulate energy transmission
He crafted the Enron Loophole (while his wife sat on the Enron board)
He crafted the Gramm-Leach-Bliley act that deregulated banking and trading houses
And he, as noted, worked tirelessly to defang the IRS for the wealthy
(not so much for us at the bottom rungs)
Now UBS.
Fucker really needs to some Madoff treatment.
Gramm's wife, Wendy, is not a stupid woman. She is very aware of what is being done.
All the recent CDO and hedgefund malarkey was enabled by the Gramms.
If there ever was a 'Mr. & Mrs. Depression 2008', its them.
http://en.wikipedia.org/wiki/Wendy_Lee_Gramm
Re Enron, nice to know insider trading is covered by shareholder insurance...
Rooked twice, once by the short selling of your board, twice by having your insurance premiums raised due to execs claiming on it to avoid jail time.
Its a funny old game the capitalist world of Wall Street, privatize the profits socialize the losses, and avoid legal penalties by other people bailing you out.
But, IMO Wendy Gramm is much more culpable than just being an Enron board member.
See:
Wendy Gramm, as Commodity Futures Trading Commission chairwoman, had pushed through a rule excluding Enron's energy futures contracts from government oversight. Wendy later joined the Houston-based company's board, and in the following years her Enron salary and stock income brought between $915,000 and $1.8 million into the Gramm household
In prison where he belongs.
“Knock, Knock”
“Who’s there?”
“IRS”
[OMG Mildred, grab the guns. The mullah must be protected at all costs.]
USB will rue the day they ever heard the name Phil Gramm.
these apprentices of mafiosi are going down on tax charges.
Birds of a feather...
now I realize why we need to cut taxes on the most wealthy in this country.
As a famous tax cheat once said "only small people pay taxes"
Jealousy jealousy jealousy...you'd dodge taxes too if you could.
for yourself. Oh, I guess you just did.
it happens...
quite the dumb-comment streak you have goin there, capn. see if you can keep it up.
I recognize that my 25% goes to provide for the communal good.
What annoys people who pay taxes, is the waste, theft and corruption.
do ya!?!
Could be some big fish among those 52,000. Maybe even a few very prominent Republicans - and Republican donors.
Gramm was Chairman of UBS for some of the period in which the company was acting on behalf of these tax cheats. He must have a big, fat rolodex - what do you bet some of his friends, colleagues and supporters are on the IRS list?
if you weren't a big fish.
Check my math but 52,000 is in the top 2%.
52 000 / 100 000 000 = 0.00052
I estimated 100,000,000 taxpayers, but I have no real idea. 2% would be 2,000,000. 52,000 sounds like a good start. Now, will politicans be redacted from the list? I doubt it's going public in the NYT.
Given his close ties to the company, Gramm may very well have had an overseas account at UBS and is on the list.
Throw more criminal Reslug bastards in prison.
Those 10s of billions had to be housed somewhere obscure, UBS fits the profile. And its one of the last bolt holes for dodgy money.
Its not just about people avoiding tax on income, its also about people with unexplained income from dubious sources.
A politician, civil servant, ex CPA official, or some connected Republican, with millions in magic money, and no history of earning it legally.
The only that word that fits Phil Gramm is "Traitor"... It may be a strong word, but it's a fact. This man sold his country out to foreign interests and should be tried for it.
I think all these guys think way beyond country: it's all about money. They like to live in the USA because Congress is bought and paid for (and approves torture for profit), and you have the biggest military machine ever built (to protect them, and to loot other countries.)
Their allegiance is to MONEY ONLY. The USA is their fortress. They don't give a rat's ass about you (small people).
And for that reason, they will manipulate the system to make sure they get away with their crimes. The law only applies to the serf the chattels classes.
Billo and Hannity are on the list.
The Bush family, The Gramm family, The Delay family, The Clinton family, Beck is probably on it, Murdoch, Mrs McCain, Boehner, Mittens,
Schummer, The Kennedy's, the Rockefeller's , All of these CEO's from all of the major corporations, I don't think Palin is on it. She wouldn't have that kind of money. But she could be.
Oh, I definitely think Cheney is on it. Definitely.
It'll be interesting to see if Bremmer is on it.
That's what I see in that picture. 2 jerks of one mind. They both deserve to be drawn and quartered for what they've done to this country.
Madoff was sentenced. Everything's fine.
Move along now.
His close family members who were tied in, and the 200 people who worked for Madoff, plus the external brokers who harvested the punters for Madoff for commission.
I might suggest they track the activity of those accounts from this day on. Probably a shitload of money being moved right now.
UBS? Never heard of 'em. Don't they put the safety labels on light cords?
Bare no resemblence to the party of Lincoln.
They have no morals, no honesty, no honor, no integrity, no intelligence.
republicanism is a mental illness!
Lincoln was a murderer. The resemblence remains.
I understand there is 1900 offshore,Cayman Island,Hedge fund and Swiss bank accounts currently being investigated by the IRS and FBI for rich Americans (I use the term lightly) who evaded American taxes. Some estimate their tax-evasions could amount to $300 billion dollars after penalties and interest fees. These 52,000 rich folk need to pay to play in this American market too. Remember, we make our money because of this country, not inspite of it. But leave the religious right-wingers alone, we have moral standards for evading taxes.....greed.
Pat Robertson...The demonic christian group !
People make money because they produce something of value. The concept of 'country' has nothing to do with it.
Big flipping deal. Does anyone think any of them will ever be brought to answer for anything? This is the flipping NOBILITY we're talking about here. You can't do anything to them.
The point is: when you go to market to peddle your wares you pay the price for your booth. Not just "produce" something(you gotta sell it too). That is an entry fee, a tax, if you may. When you enter the American market, whether you're selling "blue meth" or surfboards, if you're using the market to sell...well..you pay the piper. It might not be "right", but it really ain't "wrong". It's the market place man. Tax evasion, to the tune of 300 billion, means some cheats ain't paying to play in the market...the market...the market. Tax 'em!
Pat Robber-son/ Priest of the Demonic Christian Church of the Billionaire!
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