Comments on: UBS Tax Fraud Makes Lee Kuan Yew Look Like a Dufus Dumbo

By: Why is it so difficult for Elites to admit they screwed up? «

Why is it so difficult for Elites to admit they screwed up? « — Wed, 04 Mar 2009 12:31:29 +0000

[...] GIC’s Conversion from Preferred to Common Marks the Beginning of the End / “2008 Was a Year to Forget” – 2009 Probably will be One to Forget, Too / How did our SWFs manage to invest in the 3 worst performing CDO issuing banks??? / UBS Tax Fraud Makes Lee Kuan Yew Look Like a Dufus Dumbo [...]

By: The Singapore Daily » Blog Archive » Weekly Roundup: Week 09

The Singapore Daily » Blog Archive » Weekly Roundup: Week 09 — Sat, 28 Feb 2009 03:00:49 +0000

[...] Investments – Making History Relevant: What the Temasek debacle reveals – Under The Willow Tree: UBS Tax Fraud Makes Lee Kuan Yew Look Like a Dufus Dumbo [Recommended] – Wayang Party Club: State media’s continued silence on sensitive issues will erode [...]

By: Singaporedaddy

Singaporedaddy — Mon, 23 Feb 2009 09:10:35 +0000

This is another insightful article. Many Thanks Inspir3d. As you know as I have said this many a time to Darkness and Harphoon and others. I would have much preferred to read about this matter in our MSM, but unfortunately. They dont seem to very interested about writing about such matters lately. For some reason, it doesnt appear to be very important or interesting to them. So thanks again for this insightful and excellent article.

By: looser

looser — Mon, 23 Feb 2009 05:51:10 +0000

This is a note worthy article to read. Questions must be asked about how LKY is involved in this whole issue. Is there an element of conflict-of-interest in this? So who will do the check-and-balance now? Some things are just not right any more……

By: The Singapore Daily » Blog Archive » Daily SG: 23 Feb 2009

The Singapore Daily » Blog Archive » Daily SG: 23 Feb 2009 — Mon, 23 Feb 2009 03:41:00 +0000

[...] Investments – Making History Relevant: What the Temasek debacle reveals – Under The Willow Tree: UBS Tax Fraud Makes Lee Kuan Yew Look Like a Dufus Dumbo – Wayang Party Club: State media’s continued silence on sensitive issues will erode its [...]

By: Jonathan

Jonathan — Sat, 21 Feb 2009 15:32:58 +0000

MadameG,

I do not think you have captured the essence of what I have written. All you do is accuse me of things based on mere assumptions. In doing so you are offering no new viewpoints. I think the issues of toxic investments and the damage caused by the tax fraud/evasion have a lot to do with each other when you consider that the bill is paid by the same uninvolved people and not the actual perpetrators or the organizations they are working for. As for the remark about some Swiss Jewish lawyers acting as trustees for Jewish people who brought money to Switzerland during WWII and later benefiting from the fact that this money was never claimed – well, that is just stating a fact for the sake of pointing towards another sweeping vilification of the same people who are now picking up the tab and has nothing to do with my views in general.

By: MadameG

MadameG — Sat, 21 Feb 2009 14:17:01 +0000

Johnathan,

You should not mix the issues of investments in sub-prime mortgages with tax fraud/evasion. You are assuming that UBS’s investments were not done with their own greed and/or criminality in mind (I believe it is both). Just because UBS lost billions in toxic assets, US should just let UBS off lightly with a fine not amounting to a billion is not a logical conclusion of the case. And likely and rightly so.

Your sweeping accusatories against the American consumers and employees are not only simplistic. But, downright inflamatory. Your anti-Semite bent is even more atrocious, nothing short of blaming the Crucifixion on them. Let me guess. You are white, blond, blue eyes and speak German (Swiss).

If you are not making a case for the Swiss, I might say that you are trying to make a case for Singapore. Is this the Swiss standards that Singapore aspires to? By writing your piece, are you saying Singapore = Switzerland?

On second thought, I don’t want to hear your views. Please note that the Chinese are noted to be Jewish in many characteristics/traits and Singapore and Israel have many things in common.

By: Jonathan

Jonathan — Sat, 21 Feb 2009 07:35:21 +0000

The large Swiss banks are in a sorry state and if you know their history, you will know that this is primarily due to their engagements in the U.S. The Swiss Government – under emergency law – decided to bail out UBS a few months ago by committing a sum, which amounts to almost 1 year of tax takings of all levels of government in Switzerland – tax takings in a economically strong year. Since UBS is obviously not the only expense item in the government’s budget, this will be many years of bleeding for the Swiss tax-payer for losses, that derived from investments in toxic assets, which were entered by a predominantly American group of employees (at 39% the highest amount of UBS employees are employed in the U.S.) who got (and still get) paid fat bonuses for their great contributions. Imagine how you would feel if the taxes of generations are used to fill the holes caused by house-owners in another country who bought properties they could not afford and consumers in that same country who over-extended themselves by living above their means and banking employees in that country who dreamed up ever more deceiving financial schemes to enrich themselves and stuff the fools and unknowing in the market… people of a country, which – only 10 years ago – has internationally and indiscriminantly crucifed you and your people for the role that a handful of bankers and lawyers (many of which even of Jewish background themselves) have played during WWII. I do not support tax fraud or tax evasion but I am quite sure that many of the people at the grassroots of this effort were Americans too. What injustice if the Swiss tax-payer also has to pay for this mess because UBS certainly does not have the means to pay for it. In that context, Americans should think twice before further antagonizing one of the few true friends it still has left in this world.