The tax evasion can squad can take credit for forcing one Swiss private bank to adopt the ‘screw you guys, I’m going home’ philosophy. After the UBS incident, Weglin & Co. decided it had seen enough and the risk of Swiss banks becoming the “extended arm of U.S. tax authority” was sufficient to issue a ‘Goodbye to America’ letter to investors. Between Team IRS’s renewed enthusiasm for its work and proposed changes to the estate tax, the private bank has decided to stop doing business in the US. Apparently it’s not just the UK that’s getting into the Pyrrhic victory game.
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- Use the Bloomberg command
NH BLG_DEALBREAKER <GO>
to access Dealbreaker
[stinkbomb going off]
GM short interest increases 50%
sucks like your mother
It is Wegelin, but details apart it should be pointed out that they see a risk for all non-US investors with US assets. There might be a chance that they could find themselves subject to US inheritance tax if the tax code is interpreted aggressively by the IRS. So all US assets are off-limits.
General malaise, etc., but on what level is fereting out/deterring tax evasion a pyrrhic victory?
“The tax evasion can squad can…”
Nice job, Greg.
you are so fucking boring Greg. Your posts suck.
@6, they’re urging their clients to dump US Securities.
It’s an open question whether the this administration’s tax collection ends justify its means.
@6-Kos called. he wants you back BAD. So please leave quickly and know that you are actually wanted in some deluded corner of the internet.
I wish I was a little bit taller, I wish I was a baller – greg michaels
@11…STFU. What is wrong with you?? The last time you publically wished you were taller you were trying to kiss ass at a midget show.
Yeah @11….grow up will you? The last time you signed a fake name to something weren’t you signing the medical release forms at a cocksucking class? Good Lord!!
Have you heard this one: no one can time the market? Think again, because it is bullshit. Do not believe it? Do how come the blog nailed the exact bottom on March 06, 2009 (it is in google history machine, so no lies).
It also nailed the top of August 25 (which most likely you have not understood yet until it is too late). Called top before it happened, and exactly at the time it happened (Qs 44.68, and SPY 104).
link: http://financialtraders.blogspot.com
The rich seem to be fine using government services when they’re calling the cops on maniacs chopping their hedge rows down with chainsaws. Why are they always whining about paying the taxes for those services then? I don’t complain when I pay my taxes, and after the judge ordered me to, the taxes of my ex-wife.
Thank fucking god they took you, Mark.
15- You pay social security- that’s not taxes.
So what does a swiss bank fall back on when it’s out of the tax evasion business?
Imagine if wall street couldn’t provide ‘tax advantaged’ strategies….
11 here. I had no idea you are short gregg. It was just a hunch. Somehow I see you as the skee-low of DB.
Are we discriminating against Switzerland? Let them institute a credit against the tax. That way the Swiss can pay to ensure their status as a tax haven.
#11 so did Obama call the bottom (the now mysterious EP Obama Portfolio). The President never says sell.
#11 so did Obama call the bottom (the now mysterious EP Obama Portfolio). The President never says sell.