Below is a ling to article in FT:
Swiss and US set to clash again on bank secrecy: Reports say Washington has given Bern an ultimatum to deliver further names of American taxpayers with undisclosed Swiss accounts
I have no doubts greedy bankers may have used a dirty move or two, but let me get this straight: so, is the US saying that THEIR laws should be applied to bank accounts in Switzerland? Maybe we should apply some Chinese laws to the bank accounts in US? Or maybe some African country laws?
The US has serious issues with its supposed global dominance, and trying to regulate what other countries' banks are doing seems a dumb idea to me, given how the US regulatory authorities failed to regulate their own financial system, leading to spectacular blow-ups and dumping billions of taxpayer dollars onto the banks balance sheets.
I realize that in this particular case, American citizens are involved, so there may be some justification to these demands, but the very idea that the US is demanding Switzerland to do something that is against Swiss laws is very disturbing to me.
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The US has serious issues with its supposed global dominance, and trying to regulate what other countries' banks are doing seems a dumb idea to me, given how the US regulatory authorities failed to regulate their own financial system, leading to spectacular blow-ups and dumping billions of taxpayer dollars onto the banks balance sheets.
I realize that in this particular case, American citizens are involved, so there may be some justification to these demands, but the very idea that the US is demanding Switzerland to do something that is against Swiss laws is very disturbing to me.
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