Keyword: ubs

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  • Poland fails to arrest Roman Polanski… again

    10/31/2014 5:54:38 PM PDT · by Bettyprob · 9 replies
    HotAir ^ | October 31, 2014 | Jazz Shaw
    Convicted child rapist and pedophile Roman Polanski found himself once again briefly detained by authorities in Poland this week. And yet again, he was released despite requests from the United States to hold him for extradition. But before getting to the details, it’s worth pausing for a moment to note how CNN chose to describe the situation. Famed film director Roman Polanski, wanted in the United States for having sex with a minor in the 1970s, was questioned this week by Polish authorities but allowed to leave after the interview. Yes, I suppose you could choose to say that he...
  • Obama Golfing Buddy Personifies Ex-Im Bank’s Problems

    08/21/2014 7:54:31 AM PDT · by Cheerio · 4 replies
    Free Beacon ^ | August 21, 2014 | Lachlan Markay
    Robert Wolf bundled over a million dollars for Obama, got a WH appointment, and is cashing in on his connections As economists and policy wonks debate the merits of U.S. export financing, critics of one controversial program are warning of more subtle consequences exemplified, they say, by one of the president’s golfing buddies. Robert Wolf joined the president on the links this month in Martha’s Vineyard, the latest of his frequent outings with the president. The foursome also included private equity financier Glenn Hutchins and Cyrus Walker, cousin of White House adviser Valerie Jarrett.
  • Fmr UBS CEO: Obamacare a 'Disaster,' Costs 'Not Sustainable'

    12/16/2013 2:29:41 PM PST · by Nachum · 4 replies
    YouTube ^ | 12/16/13 | Free Beacon
    Vid at link
  • Oldest Swiss Bank Perishes in US Tax Case

    01/04/2013 5:57:47 PM PST · by nickcarraway · 13 replies
    The Local ^ | 05 Jan 2013
    The oldest Swiss bank, Wegelin & Co., is wrapping up an existence that has spanned more than 270 years after pleading guilty in a US case involving Americans who hid funds in secret accounts abroad. UBS 'ordered' to give out data in US tax probe (10 Feb 12) Swiss banker quits paper amid US tax dispute (09 Feb 12) Oldest Swiss bank sold amid US tax dispute (27 Jan 12) Wegelin, which was founded in 1741 and based in St. Gallen, eastern Switzerland, unveiled late on Thursday an agreement with US federal prosecutors in New York that includes penalties worth...
  • Jailed Banker Who Helped Crack UBS Gets $104 Million Payout (IRS pays whistleblower)

    09/11/2012 1:47:31 PM PDT · by Beave Meister · 9 replies
    Yahoo Finance ^ | 9/11/2012 | Eamon Javers
    Attorneys for jailed former Swiss banker Bradley Birkenfeld announced Tuesday that the IRS will pay him $104 million as a whistleblower reward for information he turned over to the US government. The information Birkenfeld revealed detailed the inner workings of the secretive private wealth management division of the Swiss bank UBS (UBS), where the American-born Birkenfeld helped his US clients evade taxes by hiding wealth overseas. At one point during his private banking career, Birkenfeld reportedly brought diamonds across the US border secured inside a toothpaste tube. Tuesday's announcement represents an astonishing turn of fortune for Birkenfeld, who was released...
  • The UN Plan For Human Settlements (Obama Plan)

    05/15/2010 7:56:54 PM PDT · by bronxville · 71 replies · 1,030+ views
    Berit Kjos ^ | ,June 1996 | Berit Kjos
    Bicycles instead of cars? Dense apartment clusters instead of single homes? Community rituals instead of churches? "Human rights" instead of religious freedom? The UN Conference on Human Settlements (Habitat II) which met June 3-14 [1996]in Istanbul, painted an alarming picture of the 21st century community. The American ways-free speech, individualism, travel, and Christianity-are out. A new set of economic, environmental, and social guidelines are in. Citizenship, democracy, and education have been redefined. Handpicked civil leaders will implement UN "laws", bypassing state and national representatives to work directly with the UN. And politically correct "tolerance"-meaning "the rejection of dogmatism and absolutism"...
  • Wolf-hunting on Wall Street (Obama's Swiss Banker dumped by UBS, desperate for Obama's reelection)

    08/19/2012 6:37:21 AM PDT · by jimbo123 · 3 replies
    NY Post ^ | 8/19/12 | Page 6
    There appears to be a wealth of Wall Street sniping about Robert Wolf’’s departure from UBS after being described as a “fat cat with the president’s ear.” Wolf resigned as chairman of UBS Americas and president of global investment banking last month to set up his own firm, 32 Advisors. He’s among President Obama’s leading fund-raisers, a regular face at the White House and even golfs with Obama. He also makes regular Obama-friendly TV appearances, despite the president’s perceived anti-Wall Street rhetoric. A source told us, “Wall Street insiders are sniping that Wolf’s new career path appears to be serving...
  • U.S. Is Building Criminal Cases in Rate-Fixing (Obama gave immunity to UBS, his favored Swiss Bank)

    07/15/2012 7:06:58 AM PDT · by jimbo123 · 4 replies
    NY Times ^ | 7/14/12 | BEN PROTESS AND MARK SCOTT
    As regulators ramp up their global investigation into the manipulation of interest rates, the Justice Department has identified potential criminal wrongdoing by big banks and individuals at the center of the scandal. -snip- According to people briefed on the matter, the Swiss bank UBS is among the next targets for regulatory action. The Commodity Futures Trading Commission is pursuing a potential civil case against the bank. Regulators at the agency have not yet decided to file an action against the bank, nor have settlement talks begun. UBS has already reached an immunity deal with one division of the Justice Department,...
  • Barclays Chairman Agius Resigns

    07/02/2012 5:48:13 AM PDT · by Kartographer · 7 replies
    WSJ Online ^ | 7/2/12 | JESSICA HODGSON
    Libor rates are calculated for different currencies each day under the auspices of the British Bankers' Association, using quotes that are submitted by banks on a panel, based on the banks' estimated borrowing costs. More than $800 trillion in securities and loans are linked to Libor, including $350 trillion in swaps and $10 trillion in loans, including auto and home loans, according to the CFTC. No other banks or individuals have been charged with wrongdoing. Banks that have disclosed they are being investigated include Citigroup Inc., C +3.72% Deutsche Bank AG, DBK.XE +2.02% HSBC Holdings HBC +1.00% PLC, J.P. Morgan...
  • Top UBS executive and Barrack Obama's leading fundraiser, Robert Wolf under bank scrutiny

    06/21/2012 5:28:13 PM PDT · by jimbo123 · 9 replies
    Economic Times ^ | 6/22/12 | Economic Times
    One of the biggest banks in the world wants the president's favourite banker muzzled. The banker, Robert Wolf, a top UBS executive in New York, is among President Barack Obama's leading fundraisers, building more than $500,000 for his re-election so far this year. A regular presence at big campaign fundraisers, Wolf, who is 50, golfs and vacations with Obama and is known for emailing friends photos of himself with the president.
  • Bosses Rein In Banker Who Golfs With Obama (Obama Swiss Banker, Bundler Robert Wolf demoted by UBS)

    06/21/2012 3:43:40 AM PDT · by jimbo123 · 7 replies
    NY Times ^ | 6/20/12 | SUSANNE CRAIG
    One of the biggest banks in the world wants the president’s favorite banker muzzled. The banker, Robert Wolf, a top UBS executive in New York, is among President Obama’s leading fund-raisers, building more than more than $500,000 for his re-election so far this year. A regular presence at big campaign fund-raisers, Mr. Wolf, who is 50, golfs and vacations with Mr. Obama and is known for e-mailing friends photos of himself with the president. -snip- Mr. Wolf and Mr. Obama met in late 2006 at a reception held at the offices of the billionaire investor George Soros. The two became...
  • UBS racks up to $350m in Facebook losses (Obama's Swiss Banker-Bundler CEO Robert Wolf FAIL)

    06/08/2012 5:47:52 PM PDT · by jimbo123 · 9 replies
    Financial News ^ | Financial News | DJ Newswire
    UBS has racked up losses up to $350m related to botched trading in shares of Facebook during the company's tumultuous market debut, according to people familiar with the situation.
  • UBS lost $30 million on Facebook IPO fiasco: source (Obama bailout for Robert Wolf, CEO/bundler?)

    05/25/2012 4:39:40 PM PDT · by jimbo123 · 3 replies
    Reuters ^ | 5/25/12 | John McCrank
    UBS AG had trading losses of around $30 million stemming from Facebook Inc's botched initial public offering on Nasdaq OMX Group Inc's U.S. exchange, a source with knowledge of the situation said on Friday.
  • Mitt Romney Swiss bank account ad misses mark (No mention of Obama's UBS Swiss Banker Robert Wolf)

    05/01/2012 4:47:28 PM PDT · by jimbo123 · 5 replies
    Guardian ^ | 5/1/12 | Paul Harris
    Who With the official kick-off of President Barack Obama's re-election campaign this weekend in Ohio, it's clearly time to test out a few attack lines on Republican opponent Mitt Romney. Think of it as the start of a boxing match. In the blue corner, Team Obama is trotting out to the centre of the ring and throwing a few jabs just to see what sticks to Romney's square-cut chin. What This is a slick 30-second TV spot of a kind we are going to be seeing a lot of this year. As such, it has to pack a lot in...
  • Obama's Foursome

    01/25/2010 8:06:44 AM PST · by opentalk · 396+ views
    American Spectator ^ | 1.25.10 | The Prowler
    MEN OF HONOR Apparently, if you want to cheat on your wife or spurn the mother of your unborn child, cover up and easily settle your institution's criminal efforts to help Americans avoid paying their federal income taxes, or just avoid paying your own fair share, the place to be is on President Barack Obama's economic-recovery advisory board. Because that's where Robert Wolf, chief executive of UBS Group Americas, the U.S. arm of one of Switzerland's largest banks, UBS AG, sits, as do Charles E. Phillips, President of Oracle Corporation, Peter Orszag, the director of the Office of Management of...
  • Obama’s Swiss Banker

    04/24/2012 4:00:35 PM PDT · by Brad from Tennessee · 3 replies
    The WASHIGTON FREE BEACON ^ | April 24, 2012 | By Andrew Stiles
    One of President Obama’s largest financial backers is a key executive at the largest Swiss bank in the world, complicating his criticism of presumptive Republican nominee Mitt Romney. Robert Wolf is president of Swiss financial giant UBS Investment Bank and chairman of UBS Americas. He has been one of Obama’s most prolific fundraisers dating back to 2006, when the former Senator from Illinois initiated his run for the White House. Wolf has bundled more than $500,000 for the president’s reelection, campaign records show. He is but one of many wealthy bankers Obama has turned to in an effort to win...
  • Dems Poke at Romney's Swiss Bank Account (But not at Obama's UBS Swiss Banker CEO Robert Wolf)

    04/10/2012 4:25:37 AM PDT · by jimbo123 · 8 replies
    Newswer ^ | 4/10/12 | Mark Russell
    Democrats are taking shots at Mitt Romney's Swiss bank account, accusing him of wanting to "conceal something," reports the Huffington Post. The issue came up yesterday in a conference call by President Obama's election campaign that was supposed to be about raising taxes on the rich.
  • Team Obama Skewers Romney on Tax Fairness (Silence on Obama's UBS Swiss Banker CEO Robert Wolf)

    04/09/2012 6:29:09 PM PDT · by jimbo123 · 10 replies
    KGO ^ | 4/9/12 | KGO
    As part of a weeklong campaign around the Buffett Rule, President Obama’s re-election team is making Mitt Romney the face of income tax inequality. On a conference call with reporters Monday, top Obama surrogates blasted the Republican candidate for keeping years of tax returns secret, using offshore bank accounts for some investments, and enjoying a lower effective tax rate than most middle-income Americans. -snip- Durbin said. “And when is the last time a presidential candidate for the U.S. had a Swiss bank account? The answer is never.”
  • Moody's Warns 17 Banks of Downgrade — Credit Suisse, UBS And Morgan Stanley Could Fall 3 Levels

    02/16/2012 9:04:45 AM PST · by SeekAndFind · 5 replies
    Business Insider ^ | 02/16/2012 | Sam Ro
    Moody's announced that it may soon downgrade the long-term credit ratings of 17 of the largest banks in the world. "Capital markets firms are confronting evolving challenges, such as more fragile funding conditions, wider credit spreads, increased regulatory burdens and more difficult operating conditions," wrote the credit ratings agency in a statement. "These difficulties, together with inherent vulnerabilities such as confidence-sensitivity, interconnectedness, and opacity of risk, have diminished the longer term profitability and growth prospects of these firms." Credit Suisse, Morgan Stanley and UBS could be downgraded by up to three notches. Barclays, BNP Paribas, Citigroup, Credit Agricole, Deutsche Bank,...
  • Romney Failed to Disclose Swiss Bank Account Income

    01/26/2012 2:32:38 PM PST · by Raebie · 95 replies
    ABC News ^ | 1/26/2012 | MATTHEW MOSK and BRIAN ROSS
    Mitt Romney's campaign is amending the financial disclosure form he filed in 2011 to acknowledge that a Romney trust earned interest income from a Swiss bank account, a detail that had been missing from the report. "An amendment is being filed to address this minor discrepancy," a campaign official told ABC News in an email Thursday in response to questions about the apparent omission. "The inescapable fact is that by releasing over 600 pages of information regarding his finances, Mitt Romney is clearly coming down on the side of disclosure," said Andrea Saul, a campaign spokeswoman, in a subsequent statement....
  • UBS takes action to evict Occupy (London) protesters

    11/18/2011 9:02:22 AM PST · by Libloather · 3 replies
    Financial News ^ | 11/18/11 | Richard Partington
    UBS takes action to evict Occupy protestersRichard Partington 18 Nov 2011 Investment bank UBS has said it is taking “appropriate action” to handle the Occupy London protesters that have taken over one of its empty buildings. Sources close to the bank said it had begun looking at legal avenues to regain control of the complex, located at the corner of Sun Street and Crown Place in the London borough of Hackney. A spokesman for UBS, said: “We are aware of the situation and are taking appropriate action.” Lawyers said the bank would be looking at ways to evict the protesters....
  • UBS raises rogue equity trade losses to $2.3 billion (Will Obama bail them out again?)

    09/18/2011 11:21:00 AM PDT · by jimbo123 · 14 replies
    Reuters ^ | 9/18/11 | Emma Thomasson and Silke Koltrowitz
    Swiss bank UBS on Sunday increased the amount it said it had lost on rogue equity trades to $2.3 billion and alleged a trader concealed his risky deals by creating fictitious hedging positions in internal systems. UBS stunned markets on Thursday when it announced unauthorised trades had lost it some $2 billion. London trader Kweku Adoboli was charged on Friday with fraud and false accounting dating back to 2008.
  • UBS Faces Questions on Oversight After a Trader Lost $2 Billion (Son of a former UN official)

    09/17/2011 6:15:11 AM PDT · by jimbo123 · 29 replies
    NY Times ^ | 9/16/11 | SUSANNE CRAIG, BEN PROTESS AND MATTHEW SALTMARSH
    Until this week, Kweku M. Adoboli was riding high, a young trader for a big bank, with a stylish apartment in a fashionable London neighborhood and a steady girlfriend. On Wednesday, the world of Mr. Adoboli — whose name in a language spoken in his native Ghana means “born on a Wednesday” — began to come tumbling down around him. After being questioned by compliance officers about some of his trades, he became evasive, later sending a “confessional” e-mail to bank officials, saying that he did not have the information they wanted. -snip- The son of a former United Nation’s...
  • UBS faces fallout (Obama's favorite Swiss-owned investment bank implodes)

    09/17/2011 5:47:29 AM PDT · by jimbo123 · 6 replies
    NY Post ^ | 9/17/11 | MARK DECAMBRE
    The pressure is starting to build inside troubled UBS. The bank’s investment bank boss, Carsten Kengeter, who some saw as a future leader of the overall bank, could be forced to fall on his sword, sources tell The Post. At the same time, the wounded Zurich-based financial services firm could significantly shrink itself in the fallout from its rogue trader debacle, sources added. Blame for the Swiss bank’s embarrassing $2 billion trading loss likely will be laid at the feet of Kengeter, 44, a former Goldman Sachs banker who joined UBS in 2008 to manage the bank’s troubled investment banking...
  • 'I need a miracle': Desperate last Facebook message of banker accused of £1.3bn fraud ( UK - UBS )

    09/15/2011 5:40:05 PM PDT · by george76 · 21 replies
    Daily Mail ^ | 16th September 2011 | Stephen Wright
    A suspected rogue trader accused of a staggering £1.3billion fraud told friends he needed ‘a miracle’ days before he was arrested. Kweku Adoboli, 31, posted a desperate last message on Facebook as he tried to recover enormous losses he had run up through illegal trading. Detectives detained Adoboli, who works for Swiss banking giant UBS, during a 3.30am raid yesterday at his luxury London flat. The Ghanaian, who was privately educated in Britain and is the son of a retired UN worker, is accused of being responsible for the biggest loss ever accrued by a single trader based in London......
  • UBS Rogue Trader Had Been "Reduced To Watching Fox News For Guidance"

    09/15/2011 9:15:53 AM PDT · by PieterCasparzen · 7 replies
    Zerohedge ^ | 9/15/2011 | Tyler Durden
    This could probably explain a lot. According to the FT, which has managed to sneak a peek into Kweku Adoboli aka, the scourge of UBS, Facebook profile, in a July 31 update said: "Will they? Won’t they? Reduced to watching Fox News for guidance, it’s a grim affair". It appears that Adoboli should thus be commended - under those conditions we believe it is a miracle a person's loss can be confined to just $2 billion. FT continues with the cyberstalking: " That was followed a week later amid steep market falls, by an entry that read: “Can we shut...
  • UBS Quantifies Costs Of Euro Break Up, Warns Of Collapse Of Banking System And Civil War

    09/05/2011 7:13:04 PM PDT · by SeekAndFind · 22 replies
    Zero Hedge ^ | 09/05/2011 | Tyler Durden
    Any time a major bank releases a report saying a given course of action is too costly, too prohibitive, too blonde, or simply too impossible, it is nearly guaranteed that that is precisely the course of action about to be undertaken. Which is why all non-euro skeptics are advised to shield their eyes and look away from the just released report by UBS (of surging 3 Month USD Libor rate fame) titled "Euro Break Up - The Consequences." UBS conveniently sets up the straw man as follows: "Under the current structure and with the current membership, the Euro does not...
  • Gold At $1,950 Within The Month Reaffirm UBS; JP Morgan $2,500 Year End Call Remains

    08/30/2011 9:02:38 AM PDT · by SeekAndFind
    Zero Hedge ^ | 08/30/2011 | GoldCore
    Submitted by GoldCoreGold at $1,950 Within the Month Reaffirm UBS; JP Morgan $2,500 Year End Call Remains Gold is higher against most currencies and especially the euro. Gold is trading at USD 1,792.50, EUR 1,245.10, GBP 1,098.30, CHF 1,471.50 and JPY 137,624 per ounce.GoldÂ’s London AM fix this morning was USD 1,791.00, EUR 1,243.49, GBP 1,097.56 per ounce. Gold fixed marginally higher than last FridayÂ’s AM Fix which was at USD 1,787.00, EUR 1237.10, GBP 1,094.17 per ounce which suggests physical demand is supportive at the $1,800 level.Cross Currency TableAsian equities rose again today but ChinaÂ’s stock markets were...
  • UBS to axe 5,000 jobs, Credit Suisse to cut 1,000: reports (More Wall Street blood bath)

    07/14/2011 9:12:35 AM PDT · by SeekAndFind · 9 replies
    Reuters ^ | 07/14/2011
    UBS is set to cut around 5,000 jobs to save 1 billion Swiss francs ($1.20 billion) while rival Credit Suisse is planning to axe about 1,000 staff, Swiss newspapers reported on Thursday. Citing an unnamed UBS insider, the Tages-Anzeiger daily said the precise details of the cost-cutting program still had to be agreed and approved by the board, but should be announced in conjunction with the bank's second-quarter results on July 26. The newspaper had already reported on Tuesday that thousands of jobs were threatened at UBS and rival Credit Suisse, without giving precise figures. UBS declined to comment but...
  • Wall Streeter Confesses: I Was Paid Millions At UBS And Bear Stearns For Fronting A Ponzi Scheme

    07/11/2011 7:22:29 AM PDT · by SeekAndFind · 12 replies
    Business Insider ^ | 07/11/2011 | Courtney Comstock
    Meet your worst nightmare: a Wall Streeter who got paid millions to work at investment banks while he was stealing money from innocent investors and his company. Justin Paperny, a 36-year old who lived the Wall Street dream until a few years ago, tells a shocking tale of greed and sociopathy to Cincinatti.com. Paperny looks like the hundreds of thousands of well-bred youngsters who go to work on Wall Street every year. He grew up wealthy in a suburb outside of LA, went to college at USC, and went to work on Wall Street. He was paid $200,000 his first...
  • Here's What George Bush And Bill Clinton Said About U.S. Debt And Unemployment At UBS On Monday

    05/12/2011 2:41:42 PM PDT · by blam · 9 replies
    TBI ^ | 5-12-2011 | Courtney Comstock
    Here's What George Bush And Bill Clinton Said About U.S. Debt And Unemployment At UBS On Monday Courtney Comstock May 12, 2011, 2:35 PM Image: Prison Planet Former Presidents George Bush and Bill Clinton spoke at UBS on Monday. Topics of discussion included how to revitalize America, challenges ahead for the financial sector, and U.S. debt and high unemployment. About 400 people attended, according to someone familiar with the talk. Clinton was planned. Bush was a total surprise. (Everyone loved it.) Here's a summary of what was said: * Osama is dead! * There is growing uncertainty about U.S. public...
  • The Muslim Brotherhood's Long-Standing War On The West (US Politicians)

    02/02/2011 10:18:40 PM PST · by bronxville · 148 replies
    US Politicians Duped By The Brotherhood In the United States, one individual maintained a pretense of "moderation" which would later embarrass the left and the right. According to the testimony of Dr. Michael Waller to the US Senate Committee on the Judiciary, Abdurahman Alamoudi was a member of the Muslim Brotherhood. A man born in Eritrea in 1951, he arrived in the US in 1979 and became a naturalized US citizen on May 23, 1996. From 1985 onwards he became involved in many Muslim groups. In 1990 he founded the Washington DC-based American Muslim Council (AMC), which Waller states "has...
  • Fed Opens Books, Revealing European Megabanks Were Biggest Beneficiaries (Details you should see)

    12/02/2010 9:30:51 AM PST · by FromLori · 49 replies
    Huffingtonpost.com ^ | 12/1/2010 | Marcus Baram
    NEW YORK -- The Federal Reserve on Wednesday reluctantly opened the books on its monumental campaign to save the financial system in the midst of the recent crisis, revealing how it distributed some $3.3 trillion in relief. The data revealed that the Fed's aid was scattered much more widely than previously understood. Two European megabanks -- Deutsche Bank and Credit Suisse -- were the largest beneficiaries of the Fed's purchase of mortgage-backed securities. The Fed's dollars also flowed to major American companies that are not financial players, including McDonald's and Harley-Davidson, through unsecured short-term loans. The measure, initiated in Jan....
  • U.S. in Vast Insider Trading Probe (Will Obama's Wall Street donors get special treatment?)

    11/20/2010 5:46:22 AM PST · by jimbo123 · 11 replies
    Wall Street Journal ^ | 11/20/10 | SUSAN PULLIAM, MICHAEL ROTHFELD,JENNY STRASBURG and GREGORY ZUCKERMAN
    Federal authorities, capping a three-year investigation, are preparing insider-trading charges that could ensnare consultants, investment bankers, hedge-fund and mutual-fund traders and analysts across the nation, according to people familiar with the matter. The criminal and civil probes, which authorities say could eclipse the impact on the financial industry of any previous such investigation, are examining whether multiple insider-trading rings reaped illegal profits totaling tens of millions of dollars, the people say. Some charges could be brought before year-end, they say.
  • AP Source: UBS Employee Leaked Info on GM IPO (Obama's favorite investment bank fired)

    11/11/2010 4:44:39 AM PST · by jimbo123 · 6 replies
    AP ^ | 11/10/10 | TOM KRISHER
    A person briefed on the matter says Swiss bank UBS is no longer working on General Motors' initial stock offering because a bank employee leaked information about the sale in an e-mail. GM disclosed the e-mail in a filing with the Securities and Exchange Commission on Wednesday. The filing says investors who buy GM stock could seek refunds or damages because of it.
  • UBS whistleblower: U.S. prosecutor obstructed probe (DOJ obstruction of justice and intimidation)

    10/29/2010 10:19:04 AM PDT · by Qbert · 2 replies
    Reuters via Guardian UK ^ | 10/29/2010 | Tom Brown
    MIAMI, Oct 29 (Reuters) - The jailed whistleblower in a landmark tax evasion case against UBS AG is accusing a top U.S. Justice Department lawyer of "criminal conduct" for thwarting his efforts to cooperate with investigations of the Swiss bank by federal regulators and the U.S. Senate. Bradley Birkenfeld, who was instrumental in exposing widespread tax evasion by wealthy American clients of UBS, detailed the alleged misconduct involving the Justice Department's Kevin Downing in a telephone interview on Thursday. A Justice Department spokesman declined to comment. The 45-year-old former UBS banker spoke to Reuters from the federal prison in Pennsylvania...
  • UBS Splits Wolf Role; Names Lofts CEO Of Americas (Obama lackey demoted by UBS)

    10/24/2010 6:05:42 AM PDT · by jimbo123 · 2 replies · 1+ views
    Wall Street Journal ^ | 10/22/10 | Katharina Bart and Goran Mijuk
    UBS AG (UBS) Friday said its chief risk officer will become chief executive of its Americas business in a move meant to strengthen the Swiss bank's activities there, taking over part of Robert Wolf's role, a high-profile investment banking friend of President Barack Obama. -snip- Wolf will remain chairman of the Americas and president of the investment bank but will step down from the UBS group executive board.
  • Leading banker jumped to his death after snorting cocaine at welcome home party(UBS)

    09/08/2010 3:21:56 PM PDT · by TigerLikesRooster · 34 replies · 2+ views
    Daily Mail ^ | 09/08/10
    Leading banker jumped to his death after snorting cocaine at welcome home party By Daily Mail Reporter Last updated at 4:45 PM on 8th September 2010 A leading banker jumped to his death after snorting cocaine at a party thrown to welcome him back from abroad, an inquest heard today. Neil McCormick plunged sixty feet and landed on rubble after he was spotted walking in circles and mumbling 'guys, don’t do this to me', the court heard. Mr McCormick, who had used cocaine regularly since studying at Oxford University, moved to Hong Kong last September with his wife Diana and...
  • Obama’s Vineyard Foursomes Include UBS’s Wolf, Lawyer Jordan

    08/27/2010 3:57:05 PM PDT · by Qbert · 4 replies · 1+ views
    Bloomberg Business Week | 8/27/2010 | Kate Andersen Brower
    Obama’s Vineyard Foursomes Include UBS’s Wolf, Lawyer Jordan. Bloomberg Business Week link only: http://www.businessweek.com/news/2010-08-27/obama-s-vineyard-foursomes-include-ubs-s-wolf-lawyer-jordan.html
  • Roman Polanski released

    07/12/2010 5:28:50 AM PDT · by An.American.Expatriate · 38 replies
    20 Minutes ^ | 12.07.2010 | unknown
    Site in German- Polanski has been freed from house arrest in Switzerland and is free to travel. US has no recourse.
  • Polanski free, Swiss reject US extradition request

    07/12/2010 5:49:41 AM PDT · by Haiku Guy · 31 replies
    AP via Breitbart ^ | 7/12/10 | Bradley Klapper and Frank Jordans
    BERN, Switzerland (AP) - The Swiss government declared renowned film director Roman Polanski a free man on Monday after rejecting a U.S. request to extradite him on a charge of having sex in 1977 with a 13-year-old girl. The Swiss mostly blamed U.S. authorities for failing to provide confidential testimony about Polanski's sentencing procedure in 1977-1978. The Justice Ministry also said that national interests were taken into consideration in the stunning decision. "The 76-year-old French-Polish film director Roman Polanski will not be extradited to the USA," the ministry said in a statement. "The freedom-restricting measures against him have been revoked."
  • Switzerland won't extradite Polanski to the U.S.

    07/12/2010 5:33:28 AM PDT · by Ready4Freddy · 41 replies
    MSNBC ^ | July 12, 2010 | msnbc.com news services
    GENEVA — Switzerland said Monday that it won't extradite Roman Polanski to the United States for sentencing on a charge of unlawful sex with a 13-year-old girl. The Oscar-winning director of "Rosemary's Baby," "Chinatown" and "The Pianist" was accused of plying his victim with champagne and part of a Quaalude during a 1977 modeling shoot and raping her. He was initially indicted on six felony counts, including rape by use of drugs, child molesting and sodomy, but pleaded guilty to one count of unlawful sexual intercourse. What happened after that is a subject of dispute. The defense says the now...
  • Whistleblower: Some U.S. pols kept off-shore accounts with UBS

    04/18/2010 2:57:53 PM PDT · by jimbo123 · 28 replies · 1,680+ views
    NY Daily News ^ | 4/16/10 | Juan Gonzalez
    A former banker who blew the whistle on thousands of secret bank accounts rich Americans held at Swiss giant UBS claimed Thursday some U.S. politicians also kept off-shore accounts with the bank. "We had an office in Washington that we all referred to as the PEP office - for 'Politically Exposed People,'" Bradley Birkenfeld said. He was speaking by phone - on tax day, no less - from Schuylkill County federal prison in Pennsylvania, where he is serving a 40-month sentence for his role in the tax evasion scheme. "Only top managers from the bank knew the names of the...
  • NY state sees "deep well" of UBS client tax cases

    04/11/2010 9:28:19 PM PDT · by mlocher · 5 replies · 452+ views
    Reuters via Fidelity.com ^ | April 12, 2010 | Joan Gralla
    NEW YORK (Reuters) - New York state could glean considerable sums from UBS clients who have evaded taxes by hiding money in offshore accounts once the federal government starts handing over its data to the states, a New York state tax official said. "That's really a deep well and I expect we'll be digging in that well for some time," William Comiskey, New York State Tax Department's Deputy Commissioner for enforcement, told Reuters by telephone on Friday. The state, unlike the U.S. government, has an open-ended program for people who voluntarily reveal their misdeeds and some have already turned to...
  • Swiss Hold 8 Over Saudi Suicide Bombs

    01/09/2004 6:35:24 PM PST · by blam · 5 replies · 215+ views
    The Guardian (UK) ^ | 1-10-2004 | Alison Langley
    Swiss hold 8 over Saudi suicide bombs Alison Langley in Zurich, and Brian Whitaker Saturday January 10, 2004 The Guardian The Swiss authorities have arrested eight people in connection with suicide bombings in Saudi Arabia. The arrests on Thursday were part of a national operation by 100 police officers who raided homes in Geneva, Bern, Zurich, Vaud and Aargau and questioned about 20 suspects. Those arrested are suspected of providing logistical support for a series of attacks by Islamic militants on housing compounds in Riyadh last May which killed 35 people, including nine assailants. Officials said all the suspects were...
  • Hyperinflation As A Debt Repudiation Device? No According To UBS, Yes According To IMF Paper

    02/16/2010 2:08:25 PM PST · by Cheap_Hessian · 33 replies · 540+ views
    ZeroHedge Blog ^ | February 16, 2010 | Tyler Durden
    Some time ago UBS economist Paul Donovan claimed that hyperinflation as a policy tool to inflate away a staggering debt load (for those of you who have missed all the recent musings by SocGen's Edwards and Grice, this is precisely the situation the developed world countries, not to mention the STUPIDs, find themselves in right now) is unworkable due to the impacts this type of concerted action would have on broader markets. "The idea that governments can readily inflate their way out of their debt problems is a misnomer — arising, perhaps, from confusion between the fate of the individual...
  • Swiss Justice Minister warns UBS over tax row

    02/02/2010 8:39:08 AM PST · by mgist · 1 replies · 231+ views
    UK Times ^ | 2/1/2010 | ?
    UBS stock slipped 1.3 per cent today after the Swiss Justice Minister warned that the bank could fail if Switzerland did not settle a tax dispute with the US. Eveline Widmer-Schlumpf told Le Matin Dimanche, the Swiss newspaper, yesterday that the Swiss economy would also be damaged if a resolution was not reached with the US. The Justice Minister’s comments sent UBS shares down in morning trading by 1.3 per cent to SwFr13.62 each. The stock later recovered to close up 1.28 per cent at SwFr14.21 per share. Switzerland agreed last August to hand over to America’s Internal Revenue Service...
  • Swiss warn UBS bank could collapse

    01/31/2010 5:07:25 PM PST · by Cheap_Hessian · 24 replies · 1,267+ views
    Breitbart (AFP) ^ | January 31, 2010
    Switzerland's justice minister warned in an interview on Sunday that top bank UBS could collapse if sensitive talks with the United States over a high-profile tax fraud investigation fall through. "The actions of UBS in the United States are very problematic. Not just because they are punishable but also because they threaten all of the bank's activities," Eveline Widmer-Schlumpf told Le Matin Dimanche newspaper. "The Swiss economy and the job market would suffer on a major scale if UBS fails as a result of its licence being revoked in the United States," she said.
  • Obama's Lead Blocker on Wall Street [Soros' Friend Robert Wolf Raised $200,000 for Obama]

    01/24/2010 9:43:02 AM PST · by Steelfish · 7 replies · 523+ views
    Wall St. Journal ^ | January 24, 2010 | Neil King Jr.
    JANUARY 23, 2010 Obama's Lead Blocker on Wall Street UBS Executive Advises President on Economic Issues Even as Feud Between White House, Finance Industry Heats Up By NEIL KING JR. President Barack Obama's long feud with Wall Street is getting only hotter. He is pushing a regulatory revamp that would rein in the size and power of the big banks, after jabbing at "fat cat bankers" and denouncing Wall Street greed. But Mr. Obama has at least one buddy in the banking business: a former University of Pennsylvania fullback and ex-Salomon Brothers bond trader who now serves as an outside...
  • UBS registered mail warns U.S. clients on tax: report (The IRS is now intercepting private mail?)

    10/18/2009 7:51:22 AM PDT · by SeekAndFind · 17 replies · 940+ views
    Reuters ^ | 10/18/2009
    GENEVA (Reuters) - Swiss bank UBS AG warned U.S. customers by registered mail their account details may be given to U.S. tax authorities, a method that could itself breach secrecy laws, a Swiss paper said on Sunday. The use of registered mail and envelopes showing the sender was UBS could enable the U.S. authorities to trace customers wanted for tax evasion well before their details are handed over under a U.S.-Swiss double taxation agreement, Sonntag weekly paper said. A spokesman for UBS declined to comment on the report. Switzerland and the United States settled a row over evasion of U.S....