{"id":183639,"date":"2013-01-05T23:49:00","date_gmt":"2013-01-06T04:49:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2013\/01\/05\/more-financial-fraud-enforcement-theater-from-the-obama-administration\/"},"modified":"2013-01-05T23:49:00","modified_gmt":"2013-01-06T04:49:00","slug":"more-financial-fraud-enforcement-theater-from-the-obama-administration","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2013\/01\/05\/more-financial-fraud-enforcement-theater-from-the-obama-administration\/","title":{"rendered":"More Financial Fraud Enforcement Theater from the Obama Administration"},"content":{"rendered":"<p>Yesterday, I heard the news that the 271 year old Swiss bank, Weglin, was shut down following a US Department of Justice investigation into their actions supporting tax evasion and money laundering.<\/p>\n<p>It sounded too good to be true, and ,&nbsp;<a href=\"http:\/\/www.nakedcapitalism.com\/2013\/01\/us-suit-forces-closure-of-swiss-bank-or-more-accurately-what-little-was-left-of-it.html\">as Yves Smith so eloquently points out<\/a>, it <b>was<\/b> too good to be true.<\/p>\n<p>The Nickel version is that the bank&#8217;s asserts were transferred to another entity, Raiffeisen, and the proceeds likely given to the owners in the weeks power to its being shut down.<\/p>\n<p>Finally, the DoJ is saying <b>NOTHING<\/b> about whether the got information about the accounts, and the people who used them too avoid taxes.<\/p>\n<p>This its a pretty good tell that they hour no data:&nbsp; If they had, they would be trumpeting it to the heavens, because they would thereby induce people to turn themselves in.<\/p>\n<p>Go read the while thing, including the reader comments.<\/p>\n<p><span style=\"font-size: xx-small;\">Posted via mobile.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Yesterday, I heard the news that the 271 year old Swiss bank, Weglin, was shut down following a US Department of Justice investigation into their actions supporting tax evasion and money laundering. It sounded too good to be true, and ,&nbsp;as Yves Smith so eloquently points out, it was too good to be true. The &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[970,984,1004,1002,972,985],"tags":[],"class_list":["post-183639","post","type-post","status-publish","format-standard","hentry","category-corruption","category-europe","category-finance","category-good-writing","category-justice","category-regulation"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/183639"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=183639"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/183639\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=183639"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=183639"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=183639"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}