IRS & DOJ get OK to look into Swiss Bank Accounts

[Greg B]

http://www.washingtonpost.com/wp-dyn...103727_pf.html

Hot damn, this is gonna be a gooooood cops and robbers story like a son of a bitch!

Switzerland was legendary for protecting the privacy of it's depositors but now the IRS, Dept. of Justice, and European authorities got the legal greenlight to go inside and see who's been depositing in order to determine if they've been hiding income.

Watch the panic begin!

I saw this coming years ago and with the economic disaster of the Bush Administration it was only a matter of time before they finally bullied their way into people's banking confidentiality.

Not all people stash their assets to avoid taxes. Most do it to prevent criminals from knowing they have money or in general for protection purposes like protection from lawsuits and predatory lawsuits.

Now, like our emails and other protections the government can dive right in and that confidential information will be up for grabs by crooks in government. Remember when the FBI got busted for not securing the emails they gleaned from using the software they had developed? What do you think will happen next?

On the other hand, people who stole money like no fucking tomorrow and lied through their teeth are due for some righteous justice pretty soon and that's alright with me.

[DannyCox]

No one has hidden money in Switzerland for at least 20+ years. They have a full disclosure agreement with many governments, and do notify all depositors of that fact. It's only in the movies where they still talk about "numbered Swiss bank accounts". Those disappeared back in the early 1980's

To hide money now, and with true "numbered bank accounts" you need to deal with the Middle East.

[Hell Puppy]

Last I looked, if you hide under a corporate veil, Belize is still pretty stubborn about letting anyone take a look...

[DannyCox]

Belize has been talking about disclosure with both the US and Canadian governments. Whether it happens or not is anyone's guess, but it does have some people worried.

[Greg B]

That's what's scary. If China decided to take over as a non-disclosure banking system that would just about end the debate.

[TheEnforcer]

The swiss bankigng system likely will take a big hit because of this unless they can show that the info the goverment is asking for is for legit reasons and not just because they are asked to. Nobody will mind criminals being taken own but if legit businesspeople who aren't doing anything illegal have their privacy invaded the swiss will have a shitstorm on their hands.