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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:
Perspective — October 23, 2013, 8:00 am
How pro-oil Louisiana politicians have shaped American environmental policy
Postcard — October 16, 2013, 8:00 am
A trip to one of the properties at issue in Louisiana’s oil-pollution lawsuits
Minimum number of cows whose skins are used each year for Major League baseballs:
Sleeping deer and grazing cows generally align their bodies along the earth’s north–south magnetic axis.
A study found that the goods whose costs are most frequently searched online in South Africa are cows, and, in the United States, where a two-headed cow was born, the most common items are patents.
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“Shelby is waiting for something. He himself does not know what it is. When it comes he will either go back into the world from which he came, or sink out of sight in the morass of alcoholism or despair that has engulfed other vagrants.”