Wednesday, July 1, 2009

DOJ to UBS: We Weren't Kidding About You Naming Names

We've been covering the DOJ/UBS back and forth and in today's Financial Times, the DOJ did not leave any room for interpretation.

A court document quotes the DOJ, "UBS must disclose the identity of every US taxpayer with an undisclosed UBS account so that every US customer with an undisclosed account will get right with their government."

Even though the Toblerones bribe didn't work, UBS is not backing down:
UBS has defended itself against the summons, arguing that acquiescence would involve breaking Swiss law and such issues are best negotiated by governments, rather than legal actions against companies. The bank’s position has been upheld by the Swiss government and important trade federations.
It's on then bitches! They go to trial on July 13th. Bring the chocolate UBS, we're going to need the caffeine.

US steps up legal fight on UBS clients
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