Remaining ‘Swiss’ No Longer An Option
In a running theme, I again cover the topic of the U.S. government’s heavy-handed dealings with swiss bank UBS. A nod to my colleague John Berlau, whose letter in today’s Financial Times gives a nod to former ambassador Faith Whittlesey and her commentary in FT expressing concern over the Obama administration demanding the names of 52,000 Americans who do business with UBS. As I stated in previous posts on this issue, these actions by federal authorities are setting a bad precedent for the privacy of American citizens. As usual, I am left at the end my post with questions: When the government can demand to know every detail of your financial life, what is there to stop it from exerting control over it?