Word: banking
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...states’ right-ers agitated by the mere idea of a National Tea Party Convention. Some want to form a third party, and others want to infiltrate the Grand Old Party. They are united by a dislike of President Obama, the debt, future tax increases, and the bank bailout, but currently little else...
...wouldn't be the first time the German government struck such a deal. Two years ago, Germany paid an informant $6.3 million to obtain stolen bank details for several hundred members of the LGT banking group who were suspected of evading taxes by putting their money in bank accounts in Liechtenstein. That deal reportedly helped the government recover $250 million in lost revenue by the end of last year. One of the suspects, Klaus Zumwinkel, the former head of Deutsche Post, was convicted of tax evasion and received a two-year suspended prison sentence and a fine of $1.4 million...
...announcement may have caused some superrich Germans to tremble in their designer shoes. On Tuesday, German Finance Minister Wolfgang Schaüble said the government had agreed to buy a CD from an anonymous informant that contains the stolen bank details of up to 1,500 people who are suspected of evading German taxes by stashing their money in Swiss bank accounts. The decision wasn't made easily: the deal prompted a weeklong bout of soul-searching in Germany, with critics accusing the government of playing into the hands of a common criminal. It also caused a spat with Switzerland...
...Switzerland was vehemently opposed to the deal. "Here we have a new form of bank robbery," Swiss lawmaker Pirmin Bischof said in an interview with Germany's Deutschlandfunk radio on Tuesday. "Before, you had to go to the bank and get hold of the money with a weapon. Today you can do it electronically by stealing data." Swiss Finance Minister Hans-Rudolf Merz went a step further, saying his country would refuse to help the German authorities on tax issues involving the stolen data. Lehner however, says this may just be bluster on Merz's part. "Under the double taxation...
...lengthy PowerPoint presentation, Smith credited the generation of a myriad of budgetary recommendations to the six FAS working groups created last May and the Idea Bank Web site, to which 275 individuals have submitted suggestions...