Swiss Lower House Rejects UBS Pact

[Joanne98]

A deal to resolve the U.S. government's bruising tax battle with Swiss banking giant UBS AG was jeopardized Tuesday when Switzerland's lower house rejected a bill that would have allowed the government to provide the U.S. with the names of UBS account holders allegedly dodging American taxes.

Last August, the U.S. and Switzerland reached a deal to settle a case involving hidden offshore accounts at UBS. U.S. authorities accused the bank of having helped thousands of Americans avoid paying taxes at home by setting up secret offshore accounts. UBS admitted wrongdoing and agreed to hand over the names of 4,450 ...

http://online.wsj.com/article/SB10001424052748703302604575293980430804228.html?mod=djemalertNEWS

[CanonRay]

1. I wonder how many of them UBS bribed

to get it to fail, so they can re-negotiate a lesser pact, while throwing up their hands. I guess I'm a cynic.