It wasn't enough that the Republicans greatly reduced taxes for the ultra-rich. They had to avoid them as much as possible so they would have more to gamble in the financial markets. If you read the whole article, it sounds like something from a crime novel.
http://www.google.com/hostednews/ap/article/ALeqM5i-MGKznLpJF3zqvV4y_gUrRgpsbAD96FHEUG0
IRS claims Swiss bank UBS kept US account secret
By CURT ANDERSON – 5 hours ago
MIAMI (AP) — Swiss bank UBS AG used coded language in internal e-mails and memos, created hundreds of sham offshore entities and lied to U.S. officials in an elaborate scheme to conceal the overseas accounts of wealthy Americans, the Internal Revenue Service claimed in federal court documents.
The IRS filed the documents this week seeking to force the bank to turn over records for an estimated 52,000 U.S customers who allegedly violated American tax laws by concealing Swiss accounts worth at least $14.8 billion.
"UBS systematically violated and circumvented its obligations .... all in order to help its U.S. clients conceal from the IRS their Swiss accounts at UBS," IRS agent Daniel Reeves said in the affidavit, which charges that the scheme ran from 2000 to 2007.
The internal bank e-mails and memos obtained by the IRS were included in the 305-page filing.
...
At least one UBS adviser used code language in e-mails to describe his business dealings, adding that "orange" meant euros; "green" was U.S. dollars; and "blue" signified British pounds. The e-mail from this adviser, "Dieter," that a "C" was $100,000, a "nut" was $250,000 and a "swan" $1 million.
The e-mail goes on to describe a transaction involving "2.5 orange nuts" and "2.05 green nuts," ending with "all clear?"
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