Believe the CIA
The CIA’s many critics will prefer to believe that the destruction was motivated by a desire to eliminate evidence. The…
ByMonth: March 2009
Sondheim on the stock exchange
Gene takes their money, blows it on a Park Avenue rental, pawns a car and requires a bailout. Sound familiar?…
ByUBS can’t turn over client identities
March 5 (Bloomberg) — An executive for UBS AG, Switzerland’s largest bank, said its country’s laws prevent it from turning…
ByMadoff gives up investment business, artwork
NEW YORK — Bernard Madoff has agreed to give up the rights to his investment business and his company’s prized…
ByMillionaires’ confidence plunges
An index which measures the confidence of US millionaires, the Spectrem Millionaire Investor Index, has fallen its second-lowest level ever.…
ByCoutts cuts 150 jobs in the UK
Coutts & Co has started a process of cutting staff numbers as as part of an efficiency drive by its…
ByBreaking: Response to US tax havens act
They say the sequel is always worse than the original. The latest incarnation of US legislation targeting offshore financial centres…
ByDresdner staff preparing to sue for bonuses
Hundreds of Dresdner Kleinwort staff are preparing legal action to recover tens of million of pounds of unpaid bonuses, after…
ByReuters: Switzerland needs to co-operate
GENEVA, March 3 (Reuters) – Switzerland must increase its cooperation with foreign countries on tax cheats to avoid being made…
ByGuardian: UBS picks new chairman
Severely damaged Swiss bank UBS today turned to the country’s political establishment to help secure its battle for survival by…
ByGuardian: AIG biggest loss ever, Dow below 7,000
The crisis-stricken insurance company AIG has crashed $61.7bn (£43bn) into the red with the biggest corporate loss in US history…
ByReuters: Congressional bills target tax havens
WASHINGTON (Reuters) – Offshore tax havens used by rich Americans in Switzerland, the Cayman Islands and other nations are targeted…
ByMass for New Yorkers
Only in New York would you find getting into a church for a special service as tricky as getting an…
BySunday Times: Buffett: ‘I did dumb things’
Warren Buffett admitted yesterday that he did “some dumb things” in 2008, as the world’s richest investor announced that Berkshire…
ByFamily businesses best placed for recession
A new report from Barclays Wealth and the Economist Intelligence Unit (EIU) has singled out family businesses as being particularly…
ByFT: Swiss minister combats US name drive
Switzerland’s justice minister will on Monday meet her US counterpart in a crucial week in UBS’s efforts to fight attempts…
ByTUC: £4bn lost to UK through tax havens
Tax avoidance by wealthy UK residents through tax havens costs UK tax payers at least £4 billion a year, according…
ByShame on the Republicans
Obama’s election has now left the Republicans scrambling to catch up ’ and looking like undignified idiots. It used to…
ByThe next in line
As the East European economies collapse, this begins to look more like the 1930s than a good lending opportunity. This…
ByNew Yorkers trading down
If you are a recently-fired Wall Streeter there’s always the Moon and Sixpence approach to getting your life back on…
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