You Know Who Else Has or Had Swiss Bank Accounts?

[kpete]

THU JUL 12, 2012 AT 11:52 AM PDT
You Know Who Else Has or Had Swiss Bank Accounts?
by Dave the pro


[font color=red]Kim Jong-il
http://www.telegraph.co.uk/news/worldnews/asia/northkorea/7442188/Kim-Jong-il-keeps-4bn-emergency-fund-in-European-banks.html

Hosni Mubarak
http://www.ft.com/intl/cms/s/f5c8422e-3631-11e0-9b3b-00144feabdc0,Authorised=false.html?_i_location=http%3A%2F%2Fwww.ft.com%2Fcms%2Fs%2F0%2Ff5c8422e-3631-11e0-9b3b-00144feabdc0.html&_i_referer=http%3A%2F%2Fwww.dailykos.com%2Fstory%2F2012%2F07%2F12%2F1109101%2F-You-Know-Who-Else-Has-or-Had-Swiss-Bank-Accounts#axzz20QzGtU7j

Bahsar Assad
http://www.mesop.de/2012/06/04/switzerland-issued-an-asset-freeze-on-20-million-swiss-francs-in-bank-accounts-belonging-to-relatives-of-bashar-assad/

Saddam Hussein
http://findarticles.com/p/articles/mi_m2742/is_344/ai_n25086978/

Omar al-Bashir
http://www.sudantribune.com/Sudan-President-stashed-billions,37328

Islam Karimov
http://www.uznews.net/news_single.php?lng=en&cid=30&nid=19271

Robert Mugabe
http://www.theweek.co.uk/people/37637/how-mugabe-lost-his-swiss-bank-account

Osama bin Laden
http://www.newyorker.com/archive/2006/09/11/060911ta_talk_coll

Augusto Pinochet
http://www.redorbit.com/news/international/374757/pinochets_daughter_freed_on_bail_in_tax_fraud_case/

Slobodan Milosevic
http://www.guardian.co.uk/world/1999/jun/27/balkans3

Ferdinand Marcos
http://articles.latimes.com/1986-03-13/news/mn-19580_1_swiss-bank-account[/font]

for info:
http://www.dailykos.com/story/2012/07/12/1109101/-You-Know-Who-Else-Has-or-Had-Swiss-Bank-Accounts

[NYC_SKP]

1. OMG! Kim Jong Romney!

Or Mitt Bin Laden!

[dmr]

3. You owe me a monitor!

Seriously ....

[NYC_SKP]

14. So what? You and I both probably "hold funds with investments in Swiss banks"... etc...

In the form of investments made by our 401Ks or other retirement instruments or even through out mortgages.

From VERY RW website: "Disclosure forms reveal that Democratic National Committee chair Debbie Wasserman Schultz, a member of Congress from Florida, previously held funds with investments in Swiss banks, foreign drug companies, and the state bank of India. This revelation comes mere days after the Democratic chair attacked presumptive Republican presidential candidate Mitt Romney for holding money in Swiss bank accounts in the past."

What I wonder is why are you posting such things here, casting asparagus on Democrats so close to election time, hmmmm?

[Roosins]

18. Honest

Just trying to be fair n balanced. It is what it is. It's called honesty in Democracy

[SunsetDreams]

19. "Fair n balanced"

You are aware that is a slogan by Fox News?

Nevermind: I guess you can't answer me, MIRT did the PPR
http://www.democraticunderground.com/?com=profile&uid=287064

[LadyHawkAZ]

20. Elvis has left the building

http://www.democraticunderground.com/?com=profile&uid=287064&sub=trans

[SunsetDreams]

23. That was an easy one

[bluesbassman]

24. Where the heck do they get those names? Must be a name generator on JR's site somewhere.

[SunsetDreams]

25. Don't you know what that name means?

Roosins

Romney Of Outstanding Sins

[bluesbassman]

29. Nailed it!

[SunsetDreams]

30. Or here is another one

Romney Of Outsourcing Sins

[bluesbassman]

31. Just as good, you're on a roll!

[amb123]

68. Justice swift and sure!

[MADem]

34. Who knew Deb was chair of the "DMV"--talk about a rookie error!

Her first agenda item: revoking the drivers' licenses of all GOP tools!




Note: One has to "unhide" the post above NYC Skip's to get the full flavor of this snark...

[Lifelong Protester]

48. I know, I viewed it and thought "DMV?"

for a moment I thought, "what am I missing here?" Then I realized the poster was 'missing'...

[treestar]

52. lol

those morans never miss!

[progree]

40. Any international or global fund, like Vanguard Total International Stock Index Fund invests in

foreign banks, and I'm sure Swiss banks like UBS. Virtually all financial advisors and investment books and magazine articles urge people to diversify, and that includes having some investments outside of one's home country. I also have an Emerging Markets fund and a couple of other international funds. 50% of the value in world equity market is outside the U.S.

Vanguard and Schwab and Fidelity and any fund company or brokerage based in the U.S. offer these funds, and declare every frickin dime of earnings and capital gains to the IRS, including any dividends and capital gains on any UBS stock they own. That's a lot lot lot different than having a secret accounts in Switzerland or the Cayman Islands that do not report anything to the IRS.

Now if I was going into politics, I'd get rid of these investments. Not because there is any tax-cheating angle to them (speaking of things like the Vanguard Total International Stock Index Fund) -- there isn't -- but because it would be ammo to an opponent saying I don't believe in America, just like if I drove a Toyota I'd get flack.

[oldhippie]

45. Good luck trying to explain diversity in financial planning ...

... to this crowd. The majority here are not financially sophisticated enough to understand why normal investors would have offshore accounts. All they have to hear is "Swiss Bank" or "Cayman Islands" or "offshore account" and they jump to automatically assume tax evasion and other criminal deeds.

[progree]

49. A mutual fund based in the U.S. that reports everything to the IRS is not an "offshore account".

I think its worth trying to explain to people -- I'm sure that a *LOT* of Democratic politicians have mutual funds that in turn have some foreign stock holdings, but if it is mutual funds based in the U.S. (as opposed to the Cayman Islands), then it reports everything to the IRS.

Did I do better? Sigh.

[SunsetDreams]

53. I thought you did pretty well the first time actually

That's a lot lot lot different than having a secret accounts in Switzerland or the Cayman Islands that do not report anything to the IRS.

Sounded pretty clear to me.

[oldhippie]

57. Your explanation was fine the first time

My point was that many here don't want to hear it. I've tried to explain many times why an investor may have an offshore account and not be doing anything wrong. Even beyond investing in a mutual fund that invests in foreign funds and accounts, there are many valid reasons for a savvy investor to have an individual offshore account, as I did. As long as you report it to the IRS and pay taxes on all the income derived from the account according to the IRS code, you've done nothing illegal.

But just say "offshore account" and ........

[SunsetDreams]

58. It's not that people here don't want to hear it

or that "majority here are not financially sophisticated enough to understand why normal investors would have offshore accounts." or that we lack understanding financial diversity. There is NO evidence this was reported to the IRS. Until such time, your explanation of explaining so that the "majority of us here who are not financially sophisticated enough" understand it, doesn't mean anything.

The Jury on this one is still out.

http://www.democraticunderground.com/?com=view_post&forum=1002&pid=941596

[Yavin4]

64. There's A Big Difference Between A Mutual Fund and Opening A Bank Account Offshore

Romney has accounts in off shore banks to avoid paying taxes. Proceeds from any mutual fund are taxed.

[xtraxritical]

72. Wasserman holds funds, mutual funds, she does not manage these funds and is not CEO of the funds!

[pinboy3niner]

74. And I could be wrong...

...but I don't think she chairs a DMV.

[NYC_SKP]

75. LOL!

[Poll_Blind]

17. LOL!

"Mitt Bin Laden"- I fucking want that as a recurring SNL character!

PB

[jillan]

27. hahahaha - you crack me up!!!

[freshwest]

33. Woo hoo! Good ones.

[progree]

41. Or Mitt RobMe n/t

[demwing]

71. "I'm Mitt Romney" (sung to the tune of "I'm so Ronery"

I'm Mitt Romney
Mitt Romney
With money but sadry arone

There's no one
Just me onry
Sitting on my rittle throne
I work rearry hard and make up great prans
But nobody ristens, no one understands
Seems like no one takes me serirousry

And so I'm Romney
I'm Mittens Romney
Poor rittle me

There's nobody
I can rerate to
Feel rike a bird in a cage
It's kinda sihry
But not rearry
Because it's fihring my body with rage

I'm the smartest most crever most physicarry fit
But nobody else seems to rearize it
When I change the world maybe they'll notice me
But until then I'm just Romney
Mittens Romney, poor rittle me

I'm so ronery...

[nc4bo]

2. You're not part of the kewl kid club unless you've got a Swisser.

Then and only then do you know you have arrived.

[aint_no_life_nowhere]

4. John Boner was asked if Romney's offshore holdings were patriotic

Boner's only response? "I'm not aware of it." I saw his dumb-looking expression today on MSNBC when he said that. There's nothing Republicans can say, especially seeing Mitt's name on that international list of infamy.

[SunSeeker]

5. K&R

[NewJeffCT]

6. However, if one Democrat on a small town Board of Education

also has a Swiss Bank Account, the media will make them equivalent and say everybody does it.

[rocktivity]

7. Thomas Crown

Last edited Wed May 1, 2013, 01:58 AM - Edit history (3)

The money he stole from a bank (because he was too rich and too bored with business life) was deposited in his Swiss bank account.


rocktivity

[rtassi]

8. good one!

[aikoaiko]

10. The Swiss?

[FailureToCommunicate]

13. !!!!

[Roosins]

12. Focus

So glad there is focus on Bain instead of the fabulous economy. Or the tons of stimulus money that went to other countries and cost US jobs. Priorities people.

[Gidney N Cloyd]

16. Connect the dots, dude. This is partly what gave us this economy.

And welcome to DU.

[pinboy3niner]

22. He's dead, Jim

http://www.democraticunderground.com/?com=profile&uid=287064

[NYC_SKP]

26. LOL! I alerted on it at it's second post bashing Wasserman-Schultz....

A no-brainer...

[MADem]

35. The license revoking chair of the "DMV," doncha know!!!

I am still laughing at that...!

[HiPointDem]

39. while i agree its an important story for a presidential aspirant, bain capital wasn't the only

company or factor that gave us this economy.

[Jeff In Milwaukee]

21. If by "tons" of money....

you mean "none at all" then you're absolutely correct. Tons of money went to other countries.

Psst. There's this website called Politifact and they debunked that story weeks ago.

Swing and a miss...

[HiPointDem]

38. +1

[lovuian]

15. all the dictators had their money there

swiss bankers aren't they the bankers of the rich and secretive

[kentuck]

28. This might should be on the front page?

k&r

[Blue_In_AK]

32. Wow.

Interesting company he keeps.

[Fumesucker]

36. Hitler?

A blog I visit that's always the answer to any question that asks "You know who else _________?"

You know who else loved dogs?

[chknltl]

43. Can't REALLY compare Mitt to Adolph.

I'll give you that they both have little known middle names and both found government funding for the Olympics and both promised to provide low wage jobs to the masses, but.....

......a 'Zappa' maybe but no way could mitt pull off THAT mustache!

Besides...

Hitler rode around in a convertible, where would he have tied the dog while vacationing in Canada?

[hifiguy]

46. So what was Hitler's middle name?

I've read countless biographies of Hitler and never seen mention of his middle name. Inquiring minds want to know.

[chknltl]

54. aha!! yet another difference!

At least mitt bothered to tell someone his middle name!

So what was Herr Hitler's middle name??? Well if I had to guess, it would have been Willard, Adolph Willard Hitler.

[hifiguy]

59. LOL!

[HiPointDem]

37. and no doubt many rich americans besides romney, including many politicians. but we won't hear

about them.

[oldhippie]

44. Even I had a Swiss Bank Account .....

.... in UBS back in the day. And I ain't rich. Nor evading taxes.

[Ineeda]

50. We wouldn't be hearing about rMoney either

except he's RUNNING FOR POTUS. It's relevant. (Second time in this thread you seem to defending him. WHY?)

edited for typo

[dipsydoodle]

42. The majority of the population of Switzerland. ?

[spinbaby]

47. Exactly

I have relatives with Swiss bank accounts because they're Swiss. Wish I were living there.

[progree]

51. The majority of the population of Switzerland isn't required to report earnings & gains to the IRS

[Blue_Tires]

55. CallMeWesley and Heidi?

[pinboy3niner]

62. Heidi...

[Ikonoklast]

56. I must confess that I actually had a Swiss bank account at one time.

I bought and traded gold through it when holding gold was still illegal in this country.

Shows how old I am.

[azurnoir]

60. what no Bushies on that "A" list ?

why I'm shocked and appalled at their being left out

[Coyotl]

61. Yeah, rich people and Oliver North.

So, which politicians today do? That would be a good read.

[closeupready]

63. Of course they do; Switzerland law protects banking secrecy zealously

and so a numbered Swiss bank account is a terrific means for receiving ill-gotten wealth and income - with a few exceptions (the US being a new one), Swiss banks are legally prohibited from revealing ownership details or account balances to anyone other than the account holder.

[JDPriestly]

65. Don't forget Yasser Arafat. And what about the Catholic Church and

the Pope?

[harmonicon]

66. ZOMFG!!!! You know what else?!?!

They all also owned shoes. So many connections... creepy.

[LynneSin]

67. I have a Swiss Miss account

I have 2 boxes of Swiss Miss Hot Chocolate (sugar free) in my cupboard. Does that count?

[pinboy3niner]

70. Just don't let the IRS find out

[ProgressiveProfessor]

69. Add me to that list

Then again we lived there. We opened accounts wherever we lived.

[Mass Minuteman]

73. Really???!

Is it against the law? Nope

Is your money secured like here thru FDIC? Nope

if you had millions of dollars wouldn't you do the same? I think yes.

I'll tell you what, I work for a multinational company that has major manufacturing in Ireland? Why you say? They like the beer? Nope, because the corporate tax is very low in Ireland and my company saves 100s of millions on tax breaks. It's a US company. I think that is worst then a rich guy being smart with money.....

I think the US, and our president needs to find ways to keep American jobs here in America.