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Swiss banks making concessions on bank secrecy

Aryabhata (979040) writes | more than 5 years ago

Government 1

Aryabhata (979040) writes "Economic Times & Reuters report: "Under pressure from the US and other troubled economies, the Swiss government announced on Friday that it would cooperate in international tax investigations, breaking with its long-standing tradition of protecting wealthy foreigners accused of hiding billions of dollars. Austria and Luxembourg also said they would help. ""

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Swiss Banks make concessions (1)

ps2os2 (1216366) | more than 5 years ago | (#27206843)

This is really a tough one (decision) in my opinion. The SWISS have used the "secrecy" forever. They were probably responsible for a large amount of ill gotten goods from Hitler's group and especially NAZI stolen items from gold to museum treasures to other items that were taken from the Jews in WWII to the various arms dealers and war profiteers of today. They also did some good (not much granted). There is no real way they could have kept this up much longer. Perhaps if they didn't deal with the NAZI's (and the other filth of the world) they might have been able to continue. But they saw $$ (or Swiss Francs or whatever) and made lots of money from ill gotten goods. If they would not have done that then I can see where they have a use but since they decided to trade on other peoples misfortunes they must surrender their secrecy.

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