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“U.S. tax authorities are expected to ‘very shortly’ launch another prosecution against a foreign bank similar to the tax evasion case they pressed against Switzerland’s UBS,” an Internal Revenue Service (IRS) agent was quoted saying earlier this week. “Linda J. Osuna, IRS Special Agent in Charge of the Tampa Field Office, told Reuters the expected U.S. case against the foreign bank, which she declined to name, would be for ‘the same behavior that got UBS in trouble’.”
Last year, UBS settled two U.S. government lawsuits against it over accusations that it had helped American citizens hide assets held in offshore accounts.
Osuna didn’t name the bank but it is very likely HSBC. That bank’s Political Action Committee has given $137,000 to members of congress in the current election cycle and more than $500,000 during the last election cycle.
Incidentally, well over half of the members of the Senate Banking and House Financial Services Committees received money from HSBC.
More from Ken Silverstein:
Commentary — November 17, 2015, 6:41 pm
The Clintons’ so-called charitable enterprise has served as a vehicle to launder money and to enrich family friends.
I sat in a taxi with Emma and her son, Stak, all three bodies muscled into the rear seat, and the boy checked the driver’s I.D. and immediately began to speak to the man in an unrecognizable language.
I conferred quietly with Emma, who said he was studying Pashto, privately, in his spare time. Afghani, she said, to enlighten me further.
Amount of cash inmates compete to grab from between a bull’s horns each year at the Oklahoma State Prison Rodeo:
There were new reports of cannibalism in North Korea.
The Finnish postal service announced it will begin mowing lawns on Tuesdays.
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“Matt was happy enough to sustain himself on the detritus of a world he saw as careening toward self-destruction, and equally happy to scam a government he despised. 'I’m glad everyone’s so wasteful,' he told me. 'It supports my lifestyle.'”