Switzerland

  • Still friends.

    News

    Italians Forced To Go Farther Afield To Hide Money

    The Swiss are helping their neighbors fight tax evasion. (Which is kind of rich.)

    / Feb 24, 2015 at 3:28 PM
  • Economic menace.

    News

    Franc Surge Forces Swiss To Impose Pizza Delivery Blockade

    This is an actual thing that’s happening.

    / Feb 23, 2015 at 2:50 PM
  • Canada or Switzerland? YOU CAN'T TELL, CAN YOU?

    News

    Canadian Regulators ThisClose To Getting Impolite Re: Money Laundering

    No really, they’re serious this time. Cut it out. Please? Eh?

    / Feb 4, 2015 at 1:12 PM
  • News

    Deutsche Bank Ready To Spill On Swiss Clients (Since It’s Pretty Sure It’s Got Nothing To Spill)

    As its name indicates, Deutsche Bank is not a Swiss bank. But it does have a Swiss banking unit, for the same reason every other bank has a subsidiary in a country home to fewer people than New York City, which is the reason why said country of eight million people living on top of […]

    / Oct 10, 2014 at 12:38 PM
  • Zurich-007

    News

    Swiss Bankers Suddenly Bashful About Listing “Sparkling Water,” “Hooker For Client” On Expense Reports

    To that end, Hans in accounting is also getting a little too pushy with the “Was this prostitute really necessary? Is this threesome going to help Q4 revenue?” line of questioning.

    / Aug 29, 2014 at 12:12 PM
  • News

    The Profits Of Neutrality

    The Swiss have never let unprovoked aggression deter them from doing business with the aggressors, and this long, proud tradition of profiting at others’ expense continues. Plus, they’ve already given up enough lucrative endeavors at the behest of Washington.

    / Apr 3, 2014 at 11:00 AM
  • Angela Merkel

    News

    Angela Merkel Taking 5

    The German Chancellor is working remotely following an unfortunate run-in with a Swiss ski trail.

    / Jan 6, 2014 at 2:31 PM
  • safe-deposit-box

    News

    Swiss Banks Will Not Be Rushed Re: Deciding To Comply With U.S. On Tax Evasion

    Maybe they will and maybe they won’t. They’re still weighing the risk/reward and YOU’LL JUST HAVE TO WAIT AND SEE.

    / Dec 5, 2013 at 5:51 PM
  • Banks

    It’s Called ‘Credit Suisse‘ For A Reason

    The Swiss are looking out for number one, with a fence or a wall or a beaded curtain or something.

    / Nov 21, 2013 at 3:03 PM
  • swissflag-2

    News

    Swiss Parliament Sends US Back To The Drawing Board; Shows Government What Happens When You Put All Your Eggs In One Tax Evasion Basket Basket

    Swiss parliament rejected a bill designed to resolve a dispute over undeclared bank accounts held by U.S. citizens, potentially setting the stage for American prosecution of the country’s banks. Members of parliament’s lower house voted 123 to 63 against the bill, which would have allowed Swiss banks to cooperate with the U.S. and to settle […]

    / Jun 19, 2013 at 2:40 PM
  • News

    Credit Suisse, UBS Care About (Not Being Known For Helping People Engage In) Tax Evasion Now

    Time was, you could count on Swiss banks to assist their clients in the business of not paying taxes, having practically written the book on how to go about keeping one’s assets a secret from prying eyes (Chapter 1: Discarded toothpaste containers make a great place to stash diamonds). Now? Not only are they no […]

    / Apr 8, 2013 at 1:56 PM
  • Let's only write about Switzerland from now on and have lots of mountain pictures.

    News

    Swiss Shareholders Will Get To Decide How Much They Pay Their Employees

    This weekend Switzerland voted to … do something about executive pay? Maybe? I was a little frustrated reading the news reports because they didn’t really say what the Swiss actually did, so I went and found the actual resolution, and turns out it doesn’t either. Something something vote on executive pay:1 The shareholder meeting will […]

    / Mar 4, 2013 at 12:25 PM
  • switzerland_3190_600x450

    News

    Alpine Climes Are the Perfect Habitat for Real-Estate Bubbles

    Foreigners keep pouring (their money) into Switzerland, partying like it’s 2007, and the powers that be can’t seem to do a thing about it. But they’re trying.

    / Feb 13, 2013 at 4:51 PM
  • News

    Who Wants To Be CEO Of UBS?

    The bank isn’t hiring anyone at the moment and current CEO Oswald Gruebel has said he’s not leaving anytime soon but, naturally, they’d like to be prepared when the moment comes. Would you or someone you know be the right person for the job? Prerequisites for the gig include “the charisma to run a place […]

    / Jul 20, 2011 at 5:44 PM
  • News

    If You Need Steve Cohen, He’ll Be At The Piano Bar

    The piano bar in Davos that is, where the Big Guy is headed this week for the first time ever. Once in Switzerland he’ll do whatever it is people do during the day (talk about Ideas?) and then presumably meet up with the gang (World Economic Forum mascots Nouriel Roubini, George Soros, et al) for […]

    / Jan 21, 2011 at 1:15 PM
  • News

    What? It’s Not Like We Stole It Or Something

    In the growing battle over stolen information, who can muster the most misplaced outrage? The French, for whom the ends (prosecuting tax evaders) justify the means (using a list stolen from HSBC)? Or the Swiss, defenders of the Eighth Commandment and erstwhile protectors of tax cheats from around the world? Or bets are on the […]

    / Dec 21, 2009 at 4:13 PM
  • News

    Who Needs An Appeal When You’ve Got Amnesty?

    Not covered by the amnestyThey’ve got another week, but as yet, UBS’ tax cheats private-banking clients aren’t putting up much of a fight to keep their information out of the hands of U.S. authorities. Just two Americans–out of the 500 notified last month that they were to be outed–have filed an appeal, so far. Switzerland […]

    / Dec 16, 2009 at 3:08 PM
  • News

    Too Small To Fail(ed States)

    Liechtenstein, and its citizens, have long been more than a little strange. All microstates are a little strange, being, like Liechtenstein the, polar political opposite of failed states. Failed states are plagued by institutions too weak to prop up the flaccid rule of law, and thereby permitting “shadow institutions” (the black market, organized crime, official […]

    / Aug 11, 2009 at 2:14 PM
  • News

    You And Us And The IRS

    Believe it or not the United States and UBSSwitzerland are not anxious to release the details of their 20-Questions: Tax Evaders settlement just this minute (or Friday, when the settlement is due to be concluded). You would think the settlement some sort of public relations embarrassment for Switzerland by this metric. The settlement is likely […]

    / Aug 5, 2009 at 3:36 PM
  • News

    No One Expects The Spanish Inquisition!

    Face it. There is no escape and you banks are so unpopular now that any hope you had at generating sympathy is gone gone gone. We want to know your customers. We want to know when you knew them. We want to know how you met them. We want to know who they know that […]

    / Apr 27, 2009 at 4:26 PM
  • News

    Swiss Irony

    While it may not be the place for tax avoiders (evaders) it’s still a Mecca for legitimate tax arbitrage. Convinced, with good reason, that they are about to be tagged with windfall profits taxes, green taxes, anti-petrol taxes, and “you are too profitable” taxes, a number of energy companies are moving to Swiss cantons, like […]

    / Mar 13, 2009 at 4:08 PM
  • News

    Quitters Never Win

    C’mon Switzerland! I mean we are really disappointed in you. You were making all sorts of strong sounding noises and resisting all efforts by the OECD to expose the many self-taught creative tax accountants that comprise such a large slice of your depositors. We were rooting for you. I even put my red and white […]

    / Mar 13, 2009 at 2:27 PM
  • News

    Something Is Rotten In The Confederation of Helvetica

    It was the little mouse that roared. Again. Liechtenstein, darling principality and sometime haven for revenues seeking shelter from Departments of Inland (and Outland) Revenue, neatly slid the thin blade of a double edged dagger between Switzerland’s sixth and seventh rib. The tiny country announced today that it would push through legislation to cooperate with […]

    / Mar 12, 2009 at 1:09 PM

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