Saturday, April 25, 2009

Swiss Government Asks U.S. to Move On & Drop UBS Investigation

On the sidelines of the IMF meeting, Switzerland asked the U.S. to drop the legal case against UBS, the giant Swiss bank. The Justice Department seeks information on 52,000 more tax cheats. The UBS settlement included a $780 million fine and the release of 300 names out of 17,000.

Swiss President Hans-Rudolf Merz asked Treasury Chief Tim Geithner to drop the case. Will Tim overrule Eric Holder? Where was Phil Gramm? Working behind the scenes on behalf of his employer, UBS? Highly likely.