The Senate Permanent Subcommittee on Investigations has put together another rigged hearing to demonize low-tax jurisdictions. Entitled “Tax Haven Banks and U.S. Compliance – Obtaining the Names of U.S. Clients with Swiss Accounts,” the latest hearing is part of a broader campaign to pressure Switzerland to weaken its human-rights protections of financial privacy. The staged hearing comes on the heels of the Justice Department’s unprecedented demand that the Swiss bank UBS turn over 52,000 names and accounts of American investors – even though the United States and Switzerland already have treaties that govern the sharing of information in cases of matters such as tax fraud.
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