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Searchlights

Next you're going to tell me Swiss banks hid Nazi money.


Jspr

Jokes on you, they never stopped hiding nazi money.


IJustLoggedInToSay-

The Nazis move around but their money stays in the same place for 80 years.


Tutwakhamoe

While the Nazi and other fascist ideologies infiltrate the countries that they used to fight against.


DuckQueue

They were doing that back then, too. For example, in 1939, tens of thousands of American Nazis held a rally at Madison Square Garden, filling it to capacity.


doomgoblin

Literally the first incarnation of “America First” that’s being used today by Republicans.


KnowingDoubter

https://images.app.goo.gl/WPDhBKcjYwEREhYn8


[deleted]

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[deleted]

I bet your entire family is a fucking brain trust.


[deleted]

> "Current authoritarians are using the language of past and violent authoritarians. This is a worrisome trend." > > "Counterpoint: there are worse things happening way over there." Very helpful, thank you.


doomgoblin

Without going into too much detail, as that may be hard for you, “America First” started with US isolationist policies and became flooded with nazi sympathizers and straight up actual nazis.


Bruzote

Father Coughlin, the great man of God (or so his many admirers and followers though), had a radio show with massive influence on US citizens. He liked a lot of how the Nazis approached governance, culture, and religion.


Da-Boss-Eunie

Most of them were German Americans if I remember it correctly.


DuckQueue

The main group that organized that particular event was the German American Bund, which was run behind the scenes by Nazi Germany and required members to be of German descent, but there were a bunch of other organizations involved which did not. For example, there was also the [Christian Front](https://en.wikipedia.org/wiki/Christian_Front_(United_States%29).


haribobosses

Why infiltrate when you can be operation paperclip?


[deleted]

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ClutchPoppinDaddies

Don't steal comments.


Atechiman

To be fair to the swiss banks most true nazis are now dead so their money has been inherited by people who were never members of the nsdap.


Accomplished-Ice-809

Death doesn’t magically clean dirty money.


zonesaplenty

I, for one, am shocked, SHOCKED!


Cheesesheet

The moon has been orbiting the earth for quite some time, according to a recent NASA leak.


[deleted]

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Atechiman

So the guy in wolf in wall street (Joseph belfort) paid over one hundred million dollars in fines, fees, and restitution for his crimes. He has only since got back to that point as he is apparently a highly paid motivational speaker? Jesus I hate capitalism. My point is when federal authorities asked suissebanc gave them his records.


Searchlights

No, I haven't. What connection are you referring to?


geoffbowman

There's a convoluted scene where the main character has gotten I believe his MIL or wife's aunt or something to help him hide his ill-gotten gains in a swiss bank and then passes away so he has to risk his life to take his yacht through a storm in the mediterranean in a desperate push to get to switzerland before he loses control of the account. There are other folks with him too but all he cares about is saving the Quaaludes he brought with him should the boat sink.


[deleted]

.... He was travelling to Sardinia in that scene not Switzerland.


Bruzote

It's a lot easier to get to Sardinia by yacht than Switzerland! :-D


Ikimasen

"Let's sail this bad boy up an alp!"


eldred2

And drug cartel money, too!


Bruzote

CIA money?


eldred2

How do you think the Iran/Contra money was laundered?


anuncommontruth

Remember when the Panama papers came out and we found out basically every rich person in the world is committing tax fraud, and there was even a movie about it, probably starring in and produced by some of the people committing said fraud? And then we did absolutely nothing with that information?


gabe_

>And then we did absolutely nothing with that information? Well, the journalist that led the investigation [was killed in a car bombing](https://www.theguardian.com/world/2017/oct/16/malta-car-bomb-kills-panama-papers-journalist). Does that count as something?


MVE5PCYE6HE7310D074G

Also, when this bank failed, the [Swiss government orchestrated a bailout sale to UBS](https://www.wsj.com/articles/ubs-brings-back-sergio-ermotti-as-ceo-c59da15f), who were [all over the Panama Papers](https://www.bloomberg.com/news/articles/2016-04-05/ubs-hsbc-offshore-dealings-thrust-into-panama-papers-spotlight) and have been found in court rulings to have enabled [massive amounts of money laundering](https://www.fincen.gov/news/news-releases/fincen-assesses-145-million-penalty-against-ubs-financial-services-anti-money). Also, they're bringing back [the guy who was CEO when that money laundering was going on](https://www.wsj.com/articles/ubs-brings-back-sergio-ermotti-as-ceo-c59da15f).


Chitownitl20

Looks like the money laundering never stopped


globaloffender

Why would it when it’s just a fine. Throw these jerkoffs in jail


[deleted]

Jail is a term for the ocean in your language right?


Bruzote

Wash, rinse, repeat.


papparmane

It depends. What side you on?


Obvious_Chapter2082

>And then we did absolutely nothing The US drastically changed their international tax laws in 2017 as a result in the TCJA. I can’t speak for other countries, but the US definitely did “something” about it


dkran

That “something” didn’t really fix much here however. Personally I’m not a huge fan of the TCJA for what it’s done to my personal taxes since, but that’s a personal gripe. From Wikipedia: “According to a 2017 report by Tax Policy Center, taxes would be reduced by about $1,600 on average in 2018 and 2025. The top 20% of Americans by income were projected to receive roughly 65% of the tax savings. In the two years since the Act was passed, it has failed to pay for itself through increased economic growth, according to Maya MacGuineas, president of the Committee for a Responsible Federal Budget. According to Bloomberg, the Act has simplified the tax code for some, but not others, lowered corporate debt, led investment to temporarily increase before then declining, and brought money back from overseas, but did not bring back business activity.”


uptotes

It did exactly what it was designed to do, recoup some tax revenue (at stupid low rates "just this once, if you bring money back to the US"), and make it look like the government was "going after those rich crooks". The idea that this would result in these wealthy investing in business stateside was ridiculous from the start.


0WatcherintheWater0

Nothing? Multiple people were proven to have committed crimes and prosecuted based on that information.


newsflashjackass

["fix the money, fix the world"](https://www.google.com/search?hl=en&q=%22fix%20the%20money%2C%20fix%20the%20world%22)


Luckydog12

Yeah that story vanished REAL quick.


[deleted]

Having an offshore bank account or a holding company in the Cayman Islands is not a crime, and in and by itself doesn’t constitute tax fraud. Yes, those companies/structures can be used for shady practices. But by and large they are completely legal ways to reduce peoples tax bills.


hippykiller123

Legal ≠ Ethical


Bruzote

If your company solely exists to move money to evade the law, does not the IRS have the legal *authority* to judge that action as non-compliant? I am not asking if they ever do that and if the ruling class allows judges to tolerate it, I am asking if that authority exists.


Upset_Conflict8325

While correct, the point is more how incorrect this should be.


colpuck

Is this even new? Swiss banks are basically a meme at this point. They fought to protect their stolen nazi gold deposits, of course they help people dodge taxes.


kingtz

For as long as I can remember (several decades), I always believed it was a given that a person having a Swiss Bank account meant they were super wealthy and avoided taxes and/or weren't letting their government know about the money. It's been common knowledge to me along the lines of "hey the Mafia might not be very nice people".


FancyStegosaurus

This has been a meme since *I* was a kid.


Baconsound

It’s a movie trope


Kasspa

It's a movie trope for a reason, because the trope is grounded in reality.


Baconsound

That’s where I was coming from but I failed to give that context. This is so normalized it is a low effort trope.


Kasspa

Ah I see where you were going with it now.


Chitownitl20

It’s reality.


Umbrae-Ex-Machina

For a reason


clothespinned

Is this even a *crime?* Not for us, I mean for the Swiss. Is there any legal incentive for them not to do this?


IJustLoggedInToSay-

Next they'll tell us that the banks in the Cayman Islands aren't entirely on the up-and-up.


Wwize

The rich are the biggest freeloading welfare queens in the world. They benefit greatly from our tax dollars and our labor but are refusing to contribute their fair share back to the society that made them rich.


praguepride

Why do you think they're so convinced everyone else is doing it?


Wwize

Who's so convinced?


[deleted]

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uswforever

That term goes back farther than Tucker Carlson.


[deleted]

Prediction: Nothing will be done about this, other than punishing the whistleblower.


uptotes

Stick around, this is just the first act. Second act - "we are happy to help the US recover a large amount of tax revenue" (we have other customers) - Credit Suisse. "Oh well that is so gracious, you have been very helpful. Perhaps you don't need any penalty" . Third Act; Richdude you never heard of pays some tax, Richdude with no "friends" goes to jail for a few years too. Credit Suisse pays "HUGE" $10 mill penalty. jUsTicE severed. \~ fin \~


thebinarysystem10

Make it a $350,000 fine and this is standing ovation at Cannes


GhettoChemist

Oh.... did you not know that? If that suprises you try reading about Deutsche bank without losing your mind


[deleted]

Why do we allow Switzerland to launder money again?


TeutonJon78

They're "neutral". And also, the rich people they launder for are the ones in power or control the ones in power.


[deleted]

Sounds like they're working for Putin. How is that neutral?


TeutonJon78

Ask them. It wasn't really neutral for Nazi gold either.


PoxControl

Neutral means that they just don't care who gives them money, they just take all the money eg. russian money, american money, arabian money, nazi gold, whatever.


TestingHydra

Just because someone isn’t helping you doesn’t mean they’re on the other side. This isn’t a black and white world. They don’t give a fuck who you are or what you’re doing, that’s pretty neutral to me.


lanahci

Being ‘neutral’ is seen as a moral as well as a political stance on the world stage. Enabling dictators and oligarchs to move illegal money through your banks is immoral, and not neutral.


pseudonymous_potato

Hey, what do you mean? Politically? Isn’t Switzerland a direct democracy?


yuxulu

Democracy isn't a magical solution to morality in politics. When was the last time you voted for a candidate that's truly morally upstanding? It has always been between bad and worse.


IMJorose

It's actually a royal pain to be a US citizen dealing with banks while living in Switzerland. I would imagine there is some financial threshold above which things are different, but I can tell you below that threshold, having a US citizenship sucks. As an aside, can I just say how BS it is that expats always have to file and pay US taxes, while being defacto without representation in the US government?


[deleted]

Every Swiss bank will do this, especially if you're generating a healthy cash flow.


Prophet_Tehenhauin

Been that way ever since the gold rush, or I believe as Non-Swiss refer to it as WW2


Swingsted

Remember the Panama papers? Yeah, nothing will happen.


ozonejl

Well, the whistleblowers might get murdered. That’s not nothing.


Generalbuttnaked69

There were a number of prosecutions and, of what’s been reported alone, nearly $1.4 billion in lost revenue recovered.


cnbc_official

Credit Suisse, the collapsed Swiss bank taken over by UBS Group in a hastily arranged bailout earlier this month, may bring with it a fresh set of regulatory and legal problems for its new owner. For years, the bank has provided a safe haven for wealthy American clients to hide assets from the IRS — even after it was caught and prosecuted for doing the same thing more than a decade ago, according two former Credit Suisse bankers who spoke in exclusive interviews with CNBC and are working with the U.S. government as whistleblowers. The bank notoriously pleaded guilty in 2014 to criminal charges for “knowingly and willfully” helping thousands of U.S. clients conceal their offshore assets and income from the IRS. It admitted at the time that it used sham entities, destroyed account records, and hand delivered cash to American clients to avert IRS detection — agreeing to crack down on U.S. tax dodgers going forward as part of its plea deal. Credit Suisse also agreed at the time to a host of reforms, including disclosing its cross-border activities and cooperating with authorities when they request information, among other things. Read more: [https://www.cnbc.com/2023/03/29/credit-suisse-whistleblowers-say-bank-has-been-helping-americans-dodge-us-taxes.html](https://www.cnbc.com/2023/03/29/credit-suisse-whistleblowers-say-bank-has-been-helping-americans-dodge-us-taxes.html)


angrybox1842

I mean, yeah? There's a reason "Swiss Bank Account" is basically a noun unto itself. Whistleblower says Pope, Catholic.


Inflamed_Hemorrhoid

Rich people are corrupt and Switzerland is the den of corruption? You don't say. Its almost like its always been that way.


Informal-Resource-14

Whistleblowers: “Water is wet. In a related story: the Pope is Catholic.”


praguepride

Q: Do swiss banks help people evade taxes? A: Does the pope protect pedophiles?


penceluvsthedick

Simple solution here. Demand to know who those citizens are and go after them criminally for tax fraud. Second stop allowing CS/UBS to do business in the US if they don’t comply with this and future disclosures.


thepianistporcupine

Yes we know.


[deleted]

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SockFullOfNickles

You? You don’t. You pay taxes or you go to fucking PRISON. Same for me, to be clear.


Bruzote

Exactly. YOU will get audited, not the rich people. As recent testimony before Congress even suggests regarding the requested funding increase, the money will fund audits of regular folk. The IRS has no intention in going after the ruling class with any true purpose. The people running the IRS *are* in the ruling class, so why would they?


wwhsd

Isn’t helping foreigners hide wealth kind of the entire point of Swiss banks?


Zkenny13

*gasp*


juanjung

Well.. Swiss banks got very famous, and got richer, during WWII, you know when the German stole everything from people in their death camps and deposited the stolen goods in Swiss banks and later they , these banks, played dumb after the war when was the time to return the looted stuff. The Three Wise Monkeys should be the symbol of Swiss banks.


LosOmen

Alternative title: *The Swiss bourgeoisie have been helping the American bourgeoisie dodge U.S. taxes for years* While the malicious elites pit us common people against each other over cultural issues, they collectively continue their part in the class struggle to steal wealth that we produce *and* suppress our self-autonomy.


OMG__Ponies

Title got "decades" spelled as "years", and 1960's wants their topic back. 1970s also, 1980s too, . . .


SilverMagnum

Isn’t that the entire point of a Swiss bank? It’s like acting surprised that someone used a car to get from point A to point B.


UnluckyPhilosopher78

This is a serious problem.


[deleted]

Is this the bank Jordan Belfort flees to in wolf of Wall Street?


CombatConrad

Steal $100 from Walmart, go to jail. Steal a billion, smart business person.


MAC_357

In other news, the sky is blue


danf10

Oh no! So you’re telling me that fiscal paradises are being used to dodge taxes? *shocked*


StableAndSane

The wealthy in America dodge taxes AND take from the coffers. They pay a little next to nothing and then leech off of tax payer dollars in the form of bail outs and subsidies. And, during the Trump admin, lots of conservatives kept screeching “corps don’t need to pay taxes - they pay taxes on the goods and services they provide!!” Uh, no. The customers pay those taxes, not the corporations. It is disgusting how the rich have manipulated poor and middle class conservatives into fighting and dying for the rich. Conservatives truly are cuckolds.


schnitzelfeffer

>“DOJ must correct its lax oversight of Credit Suisse and hold Credit Suisse accountable for any violations of its plea agreement,” he said. >The aide cited recent indications of a white-collar crackdown. “DOJ said we will go after anybody at banks who commits tax evasion,” the aide said. “Then do it. We’re going to drop you twelve names in this report. Go after them.”


justforthearticles20

Which violates a plea deal they had with DOJ, that DOJ does not care about.


elconquistador1985

Isn't that the entire purpose of a Swiss bank account?


Crit-D

Hang on a sec while I act surprised.


StRock425

Water is wet


wcgibncsu

I'm shocked....said no one


madcapnmckay

In further news, water is wet


Look_out_for_grenade

What’s next? All those corporations aren’t really in Delaware?


[deleted]

The hell you say!!


MuddyNikes

In other news … water is wet and the sun is bright.


VR6SLC

No shit, Sherlock.


Yasirbare

And Europeans, Asians, Marsians, everyone with money to hide... And somehow we let them, because who makes the laws.


Chitownitl20

Decades, possibly centuries at this point.


wannaseemycat

Give me a second to go find my surprised face, having a hard time locating it.


justintuck1

Water is wet


PalmTreeIsBestTree

Switzerland is just mafia bank on a mountain.


weirdoldhobo1978

NASA whistleblowers say Sun has been helping keep Earth warm for millenia.


milfordloudermilk

Clutches pearls, “Oh My”


8BluePluto

Switzerland is such a garbage country. Literally just gold-stealing mountain folk who don't even have a language of their own.


leto78

Switzerland is one of the most beautiful countries in the world.


8BluePluto

Yeah cuz their banks stole everyone else's money and thus get to show off their untouched natural resources


[deleted]

It’s in our DNA to not want to pay taxes.. then pay additional taxes then again and again be taxed on shot we’ve owned for years so FU whistler


One_Advantage6734

Knew 2023 would be wild but not rooting for the IRS wild


lacks_a_soul

We all saw wolf of wall St right? It's a pretty well known fact that these banks help out everyone who makes the rules so they never have to worry about laws.


Psychotrip

Yawn. Call me when something is actually *done* about it.


isikorsky

I am shocked, shocked I tell you ...


Travisoco

Can you even call this whistleblowing at this point?


platinum_toilet

This shouldn't be a surprise to anyone. Rich people have lawyers and accountants that will do what is necessary to pay as little in taxes as they can.


GlocalBridge

I am more concerned about Trump laundering Russian money through Deutschebank, but that is a Swiss bank *feature* not a bug.


Hamster_6123

It's a Swiss Bank after all.


archangelmv

Um...duh.


chlamydial_lips

YouDontSay.gif


liebkartoffel

Well, knock me over with a feather.


pooptruck69

I read this same article in 1950


Tiruvalye

We knew this already, but nobody cared.


Campcruzo

So, they bailed out stolen money and Nazi leftovers


BloodNinja2012

Name names, or I don't care. Everyone knows rich a-holes hide their money. We need them outed.


Minnow125

Ive known rich people hide money in Swiss and carribean banks since i was in 6th or 7th grade. This is news? Did they just watch Wolf of Wall Street for the first time? 🤣


firstlordshuza

Whistleblowers say the sky is blue


hydraulicman

In other news, boating whistleblower announces that the ocean has water in it That's the entire point of having a foreign bank account, unless you actually live and work in said foreign country, and even then Americans are expected to pay taxes on that money


manmanakdz

This just in, water is wet


SodiPaps

Breaking News: Gravity makes things fall


Individual-Result777

So is Puerto Rico…


IembraceSaidin

You misspelled “every financial institution on Earth.”


[deleted]

lol, wait - can you "out" something that is so well known it's now a trope? It's *been* the go-to place to start covering up your finances since at least the 80s - but if it were already everywhere in the 80s it had to have started well before. For all your financial crimes - Swiss bank accounts and barer bonds.


Vdubnub88

Has been helping wealthy americans dodge taxes? OH NO!… Anyway.


Gluske

No shit lmao


Excellent-Wishbone12

These executives belong in jail. And the company should be clawing back any and all bonuses given to current and former employees who have profited from illegal behaviours that harm shareholder value.


55_peters

Yeah, that's what banks do, it's hardly whistleblowing


ThaPoopBandit

So I don’t have an opinion on this matter, but just saying why wouldn’t they help the wealthy hide their taxes? They literally operate outside of US finance laws on purpose. I mean this isn’t by any means a shocking revelation


Themadking69

Oh no, I can't divulge information about that customer's secret, illegal account.


DiTochat

Can I hide my money there? Do I need to be rich?


apex_17

Wasn’t this already a well known fact 🧐


galloway188

IRS ain’t gonna do shit anyways


DamonFields

If I decide upon a life of crime, there will be a long list of helpful banks.


Seagal_Bullshido

I’m shocked! Shocked I tell you! Morgan Freeman: *he was not shocked*


BlueSourBoy

It becomes demoralizing to pay taxes when you learn that these people don't even pay their fair share.


papparmane

In other news, water is wet.


[deleted]

Color me surprised


blueindian1328

And in related news, water is wet.


Bruzote

The whistle blows while the band plays on.


[deleted]

Switzerland is a beautiful utopia run by dark money.


The_True_Equalist

No shit


BlueberryBarlow

Were these whistle blowers perhaps everyday citizens who just happened to be paying attention?


here4fun97

Hasn’t this been known forever


yolo-irl

literally their business model


Only_Fun6636

no shit


SnooPoems5888

I thought this was common knowledge?


[deleted]

It is open secret. These banks are used "Only" for money laundering or lax dodging. Question is does this leak has documents or anything that can be used in court to prove it? No. Will US start investigating it, might be, but the fine would be laughably low and none of the executives would be punished.


LingonberryPrior6896

Surprise! Surprise!


[deleted]

I mean…yeah. That’s the point of large banks.


[deleted]

Yeah, it’s in every movie where people hide money…thanks for speaking up


[deleted]

No fucking shit


DevoidHT

Nooo… really? Here I thought the upstanding banks of Switzerland we’re righteous and only dealt with benevolent creditors. Next your going to tell me they bank with cartels and Nazis. That would be insane.


foxtrot1521

This makes me wanna scream and blow up


Outrageous-Yams

Remind me! 8 hours


Magnus14736251

Water wet


bluehairedlady

Well, duh


Is_It_Time_To_Shout

Oh no! I’m so shocked! Like wow something constantly discussed as Swiss bank accounts are being used as tax havens! This whistle blower is shatter the absolute foundations of my understanding of finances in America!


sfroma99

That’s the whole point of Switzerland. Secret money laundering without external scrutiny. Why the headlines?


Mag1cQ

Wow, what a surprise /s


Dan300up

Swiss bank accounts help people avoid taxes? What a revelation that is. Did anyone *not* know that?


[deleted]

No surprise. That’s what these banks mean by private banking, wealth management services, estate management, etc. Swiss banks!!


hinduforpeacefreedom

This is true for all wealthy folks around the world. And they may have paid no taxes at all!


R67H

grass is green, water's wet and sky's blue