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Political Factoid
UBS, one of the giant international banks,
has agreed to pay multi-million-dollar fines
to settle US government complaints:
| Year |
Agreed to pay |
Allegations |
| 2011 |
$160 million |
UBS rigged the bidding process
for investment contracts with
municipal governments throughout
the United States.
|
| 2009 |
$780 million |
UBS helped wealthy Americans
set up secret accounts in
Switzerland to avoid taxes.
|
Corporations accused of crimial acts are seldom taken off the street.
Fines are just part of the cost of doing business to corporations
and for which the fines are simply passed along (trickle-down)
to the customers.
|
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