Weekly News Analysis # 3 - 1. Please inquire about any...

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1. Please inquire about any terms or concepts mentioned in the article that you are unfamiliar with or don't understand. Exploitation: To take advantage of (a person, situation, etc), esp unethically or unjustly for one's own ends Evasion: an act or instance of escaping, avoiding, or shirking something: evasion of one's duty. 2. Summarize the situation regarding the legal dispute between the U.S. (and other countries, as well) and Switzerland and Swiss bank UBS regarding Swiss banking secrecy laws. The legal issue that this article talks about is regarding the Switzerland's biggest bank, UBS helping wealthy American clients to avoid paying tax by hiding money in Swiss bank accounts. U.S. government warned UBS of losing their U.S. operating licence if they denied to hand over the client’s details and also a compensation payment of $780m, which was done by the Switzerland government before the legal process had even ended. U.S. government now is pressuring UBS to hand over all the American citizen’s file who have
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This note was uploaded on 01/25/2011 for the course FIN 320 taught by Professor Mercury during the Fall '10 term at Central Connecticut State University.

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Weekly News Analysis # 3 - 1. Please inquire about any...

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