Washington Babylon — August 24, 2009, 2:16 pm

The White House and the Justice Department: Different approaches to UBS

The Justice Department is sending UBS bankers to prison:

Former UBS banker, Bradley Birkenfeld of Weymouth, Mass., has been sentenced to 40 months incarceration by Judge William J. Zloch in Fort Lauderdale, Fla. On June 19, 2008, Birkenfeld pleaded guilty to conspiring to defraud the United States, the Justice Department announced today.

According to court documents and statements made in court today, Birkenfeld worked as a private banker in Geneva, Switzerland, for UBS AG, one of the country’s largest banks. While at UBS, Birkenfeld assisted an American billionaire real estate developer evade paying $7.2 million in taxes by assisting the developer conceal $200 million of assets hidden offshore in Switzerland and Liechtenstein. While at UBS, Birkenfeld routinely traveled to and had contacts within the United States in an effort to assist wealthy Americans conceal their ownership in assets held offshore and therefore evade the payment of taxes on the income generated on the money hidden offshore.

The President is playing golf with them:

MARTHA’S VINEYARD, Mass. — The First Duffer hit the links Monday, on the first full day of his vacation, after a morning workout and a game of tennis with his wife at the 28-acre waterfront estate he has rented for the week. South Carolina Rep. James E. Clyburn (D), UBS Investment Bank president Robert Wolf and White House aide Marvin Nicholson joined President Obama for a round of golf…”You know, he’s on vacation. So everything is a little bit loose,” spokesman Bill Burton said at the elementary school gymnasium that is serving as the island briefing room.

Share
Single Page

More from Ken Silverstein:

From the November 2013 issue

Dirty South

The foul legacy of Louisiana oil

Perspective October 23, 2013, 8:00 am

On Brining and Dining

How pro-oil Louisiana politicians have shaped American environmental policy

Postcard October 16, 2013, 8:00 am

The Most Cajun Place on Earth

A trip to one of the properties at issue in Louisiana’s oil-pollution lawsuits 

Get access to 164 years of
Harper’s for only $39.99

United States Canada

CATEGORIES

THE CURRENT ISSUE

December 2014

Gateway to Freedom

= Subscribers only.
Sign in here.
Subscribe here.

Guns and Poses

= Subscribers only.
Sign in here.
Subscribe here.

Christmas in Prison

= Subscribers only.
Sign in here.
Subscribe here.

Poison Apples

= Subscribers only.
Sign in here.
Subscribe here.

Growing Up

= Subscribers only.
Sign in here.
Subscribe here.

view Table Content

FEATURED ON HARPERS.ORG

Post
Sarah Topol follows the trade routes used by arms smugglers, Eric Foner explores the hidden history of the Underground Railroad, Karl Ove Knausgaard recounts a humiliating episode from grade school, and more
Photograph by Angela Strassheim
Article
Growing Up·

= Subscribers only.
Sign in here.
Subscribe here.

“The best coming-of-age stories have a hole in the middle. They pretend to be about knowledge, but they are usually about grasping, long after it could be of any use, one’s irretrievable ignorance.”
Photograph by Ben Pier
Article
Guns and Poses·

= Subscribers only.
Sign in here.
Subscribe here.

“‘It’s open shopping,’ he said. ‘A warehouse. The whole of Libya.’”
Map by Mike Reagan
Article
Gateway to Freedom·

= Subscribers only.
Sign in here.
Subscribe here.

“The Vigilance Committee survived until the eve of the Civil War, and over the course of its several incarnations it propelled the plight of fugitives to the forefront of abolitionist consciousness.“
Photograph by Amani Willett
Article
Christmas in Prison·

= Subscribers only.
Sign in here.
Subscribe here.

“Just so you motherfuckers know, I’ll be spending Christmas with my family, eating a good meal, and you’ll all be here, right where you belong.”
Photographer unknown. Artwork courtesy Alyse Emdur

Amount that President Obama has added to America’s “brand value” according to the Nation Brands Index:

$2,100,000,000,000

A study suggested that the health effects of exposure to nuclear radiation at Chernobyl were no worse than ill health resulting from smoking and normal urban air pollution.

A former New York City police officer who had been arrested in 2012 for exchanging online messages about cooking women alive and eating them, and for illegally accessing data about potential victims in law-enforcement databases, was sentenced to time served.

Subscribe to the Weekly Review newsletter. Don’t worry, we won’t sell your email address!

HARPER’S FINEST

In Praise of Idleness

By

I hope that after reading the following pages the leaders of the Y. M. C. A. will start a campaign to induce good young men to do nothing. If so, I shall not have lived in vain.

Subscribe Today