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US lawmakers attack bank secrecy

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posted on Jul, 17 2008 @ 08:59 AM

US lawmakers attack bank secrecy

Senior US and European bankers will appear before US lawmakers later to defend themselves against claims that they helped to promote tax fraud.

The hearings come after a report from a US Senate sub-committee criticising overseas banks for allowing rich Americans to avoid paying taxes.

Swiss bank UBS and Liechtenstein bank LGT, owned by the principality's royal family, were singled out.

The report claims that secrecy laws cost the US $100bn (£50bn) a year.
(visit the link for the full news article)

posted on Jul, 17 2008 @ 08:59 AM
Oh we go..some real action..

A potentially good start to get to the bottom of everyones problems.

Senior bankers in trouble, eh?
Ha, I hope they all get found guilty and then maybe we can all start to work out exactly what these banks have been playing at over all these years.

It alleges that between 2006 and 2007, UBS - Switzerland's biggest bank - and LGT created complex offshore structures for their clients in which they could hide their assets from the Internal Revenue Service (IRS), which collects taxes for the US government.

UBS has an estimated $18bn in 19,000 undisclosed Swiss accounts for US customers, the report disclosed.

This can only be the tip of the iceberg and, yet it is also a signal flare in an ocean of darkness to light the way towards the resolving of one of the biggest and nastiest methods of control this planet has ever seen.
(visit the link for the full news article)

[edit on 17-7-2008 by Extralien]

posted on Jul, 17 2008 @ 09:12 AM
Excellent news

A word of caution though: don't be shocked if nothing happens.

And of course, the real robber-barons are still out there....

posted on Jul, 17 2008 @ 09:25 AM
reply to post by Terran Blue

That thought crossed my mind too, Terran.

But there just has to be a paper trail, right?

If not, why not... and how have those who are the BIG bosses in that position, how did they get there and stay there un-noticed?

With a good bit of genuine research and study and legal battles, we might just find out.

posted on Jul, 17 2008 @ 09:55 AM
In truth, Congress should be controlling banks, not banks controlling everything & everybody that are forced (by Unconstitutional Law) to deal with their fiat money in a debt-driven economy.
Source: US Constitution

Article 1 Section 8 (The Powers of Congress), Clause 5:
To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;

After the Federal Reserve Act was set into motion, it wasn't long before they managed to get the gold & silver standard removed. It's been a downhill road into insolvable debt since then. The only way to turn this around is to nationalize all banks (especially the Fed Res) & put them under control of Congress again.

If you want to see how bad it really has been (& steadily how worse it continues getting), do an ATS Search with the keywords "Federal Reserve" & "Fed Res." There's lots of threads & supporting links providing a lot of details.

posted on Jul, 17 2008 @ 10:17 AM
And who is now Vice Chairman of UBS as well as co-chairman of Sen. John McCain's presidential campaign? The same guy who is suspected of engineering the Enron Loophole that has allowed energy speculation to run rampant? You got it, Phil Gramm.

We need to start with him and get him to turn on the rest of the rotten crooks who are robbing the American public blind.

posted on Jul, 17 2008 @ 01:02 PM
reply to post by Icarus Rising

It really don't matter who we start off with.. just as long as they left a paper trail or are willing to give up the ghost on others so that they don't fall too hard..

And don't forget, this is not just an American issue. This matters very much to everyone on the planet, especially those left to live in extreme poverty and starve to death because ofthe "costs" involved, yet those very same "costs" are eaisly created out of thin air to fund military war games that murder millions of people..

looking at it in that light, the entire banking system should be charged with crimes against humanity... wonder if that could trickle over to genocide??

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