PORTAL Finance Blog

Category Archives: Union Bank of Switzerland (UBS)

UBS let off the hook: Kind of…

Finally, I realized that there are certain things in life that will never be explained.  For example, take the curious case of the U.S. government vs. Union Bank of Switzerland (UBS).  Eighteen months ago, a whistle-blower from UBS came forward … Continue reading →

October 23, 2010 at 5:11 pm | Financial, Swiss Bank, Union Bank of Switzerland (UBS)

Treasury says TARP will cost only $50 billion

The U.S. Treasury is trumpeting its announcement that the $700 billion dollar TARP program will cost U.S. taxpayers about $50 billion.  No one really knows for sure because it will take years for a full accounting to take place.  Only … Continue reading →

October 10, 2010 at 4:24 pm | Financial, Real Estate, TARP, Union Bank of Switzerland (UBS)

Swiss Banking Saga Finished – U.S. Wins!

The Swiss government ruled yesterday that it would allow Union Bank of Switzerland to disclose the names of 4,450 American citizens with unreported Swiss bank accounts.  This decision spells the end of Swiss banking secrecy.  It is important to note … Continue reading →

June 19, 2010 at 3:45 pm | Financial, Swiss Bank, Union Bank of Switzerland (UBS)

Swiss Banking Secrecy: More Twists and Turns

On June 4, 2010, an article reported that the Swiss Parliament supported giving up the names of more than 4,000 wealthy citizens suspected of evading U.S. taxes.  Four days later, on June 8, 2010, another article reported that the Swiss … Continue reading →

June 11, 2010 at 2:50 pm | Financial, Swiss Bank, Union Bank of Switzerland (UBS)

Europe’s Turn at The Roulette Wheel

Europe announced a $957 billion rescue package on a Sunday night.  I guess it is only fitting that another “Mother of all Bail-Outs” occurred on Mother’s Day.  In the surest sign of yet another massive global finance problem in our … Continue reading →

May 10, 2010 at 4:11 am | Federal Reserve Bank, Financial, Union Bank of Switzerland (UBS)

A New Twist in the Swiss Banking Saga

In the last round of the Swiss Banking Saga, http://portalfinance.blogspot.com/2010/02/interesting-follow-up-on-swiss-banking.html, the Swiss government intervened and refused to release to the U.S. government the names of U.S. citizens that held accounts in Swiss banks. Now, in a new twist, the Swiss … Continue reading →

April 3, 2010 at 1:06 pm | Financial, Swiss Bank, Union Bank of Switzerland (UBS)

Interesting follow-up on the Swiss Banking Saga

Last year, I was following with great interest, a story about how the U.S. government was trying to penetrate Swiss bank secrecy by using a whistle-blower:  http://portalfinance.blogspot.com/2009/11/swiss-banking-secrecy-is-no-more.html Just when it seemed the U.S. had succeeded in its mission, an article … Continue reading →

February 14, 2010 at 5:46 pm | Financial, Swiss Bank, Union Bank of Switzerland (UBS)

Swiss banking secrecy is no more…..

I have been following with great interest the blockbuster story between the U.S. government and the Swiss government.  It is a story that exploded on the news scene with massive coverage by the mainstream media and then died a quick … Continue reading →

November 17, 2009 at 10:43 pm | Federal Reserve Bank, Financial, Swiss Bank, Union Bank of Switzerland (UBS)

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