Mr. Shaman
Senior Member
- May 4, 2010
- 23,892
- 822
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It's lookin' like the 1%ers are runnin'-outta places to hide (their ca$h)!!!
September 21, 2010
"The IRS continues to uncover abusive tax-avoidance schemes involving offshore activity."
....And, now......the banks are finally GETTIN' IT!!!!!!
"Switzerland tightened the reins on UBS and Credit Suisse on Monday, telling them to hold more capital than international rivals to prevent a bank failure crippling the country.
Regulators also see the new rules as a boost to confidence in the country's crucial private banking industry, which they say should be the focus for Swiss banks rather than the risky investment banking business which brought UBS to its knees.
The new rules go well beyond the "Basel III" international standards set out three weeks ago, which require banks to hold a minimum core Tier 1 ratio of 7 percent, though recent reports suggested the level would be set even higher.
"It's twin edged. They are trying to deal with the too-big-to-fail issue, which is important domestically as a lot of people were very upset by the embarrassment caused by UBS," said Christopher Wheeler, an analyst at Mediobanca in London.
"And they want their banks to be the strongest in the world because that's how you stay number one in wealth management," Wheeler said."
Makes ya' wonder who Phil Gramm's HU$TLING, NOW!!!