Warm Southern Breeze

"… there is no such thing as nothing."

Posts Tagged ‘Banking in Switzerland’

IRS pays whistleblower $104 Million for exposing wealthy tax cheats

Posted by Warm Southern Breeze on Tuesday, September 11, 2012

English: United States Internal Revenue Servic...

United States Internal Revenue Service, Criminal Investigation Special Agent badge

To know the truth is good, even though what may be revealed might not be good.

The über-wealthy & super-rich can run, but they cannot hide.

If anything, this perfectly illustrates the need for strong regulation.

IRS pays whistleblower $104 million

By STEPHEN OHLEMACHER

— Sep. 11 10:58 AM EDT

WASHINGTON (AP) — Lawyers for a whistleblower say the Internal Revenue Service has awarded their client $104 million for providing information about overseas tax cheats — the largest amount ever awarded by the agency.

Ex-Swiss banker Bradley Birkenfeld is credited with exposing widespread tax evasion at Swiss bank UBS AG. Birkenfeld himself Read the rest of this entry »

Posted in - Even MORE Uncategorized!, - Read 'em and weep: The Daily News | Tagged: , , , , , , , , , , , , , , | Leave a Comment »

Secret Swiss Bank accounts, Cayman Island Bank accounts, Bermuda Tax Haven Bank accounts… what does Mitt Romney have to hide?

Posted by Warm Southern Breeze on Sunday, July 15, 2012

What does Mitt Romney have to hide?

Why won’t he live up to his late father’s example, and voluntarily and openly reveal all his tax records?

Where the Money Lives

August 2012, 2012-08-08 T11:00:24.000-04:00

By Nicholas Shaxson

For all Mitt Romney’s touting of his business record, when it comes to his own money the Republican nominee is remarkably shy about disclosing numbers and investments. Nicholas Shaxson delves into the murky world of offshore finance, revealing loopholes that allow the very wealthy to skirt tax laws, and investigating just how much of Romney’s fortune (with $30 million in Bain Capital funds in the Cayman Islands alone?) looks pretty strange for a presidential candidate.

Mitt Romney Cayman Islands banking

BURIED TREASURE Grand Cayman, where Bain Capital maintains at least 138 funds. Inset, Mitt Romney tries to spot his La Jolla home from the campaign plane. ©Ruth Tomlinson/Robert Harding World Imagery/Corbis (beach); by Justin Sullivan/Getty images (inset).

A person who worked for Mitt Romney at the consulting firm Bain and Co. in 1977 remembers him with mixed feelings. “Mitt was … a really wonderful boss,” the former employee says. “He was nice, he was fair, he was logical, he said what he wanted … he was really encouraging.” But Bain and Co., the person recalls, pushed employees to find out secret revenue and sales data on its clients’ competitors. Romney, the person says, suggested “falsifying” who they were to get such information, by pretending to be a graduate student working on a proj­ect at Harvard. (The person, in fact, was a Harvard student, at Bain for the summer, but not working on any such proj­ects.) “Mitt said to me something like ‘We won’t ask you to lie. I am not going to tell you to do this, but [it is] a really good way to get the information.’ … I would not have had anything in my analysis if I had not pretended.

“It was a strange atmosphere. It did leave a bad taste in your mouth,” the former employee recalls.

This unsettling account suggests the young Romney—at that point only two years out of Harvard Business School—was willing to push into gray areas when it came to business. More than three dec­ades later, as he tried to Read the rest of this entry »

Posted in - Lost In Space: TOTALLY Discombobulated, - Politics... that "dirty" little "game" that first begins in the home., - Read 'em and weep: The Daily News | Tagged: , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a Comment »

 
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