February 12, 2015
...The UK's Treasury Committee (click here) is to examine allegations that HSBC's Swiss private bank helped clients evade tax.
Whistleblower Herve Falciani has said the UK government should have known about the scandal in 2010....The UK's Treasury Committee (click here) is to examine allegations that HSBC's Swiss private bank helped clients evade tax.
Committee chairman Andrew Tyrie said the committee was concerned about the allegations and had decided to take oral evidence from both HSBC and HMRC.
Meanwhile, the BBC understands the Treasury is preparing legislation to tighten the tax evasion laws....
This is a convenient excuse for the southern Senator David Vitter to attempt to taint Ms. Lynch's spotless record.
February 12, 2015
...Senators submitted dozens (click here) of additional questions to Lynch in writing about her differences with Attorney General Eric Holder, the immigration order, and a range of granular topics related to the Justice Department, which she responded to in a 220-page document earlier this week.
Grassley said on Thursday he was unhappy with some of those responses, and wanted time to press her further.
The Republicans pulled this last minute anxiety methology when Secretary McCarthy was nominated as well. Same exact methodology to instill fear of their power over any nominee.
"I know that there's a lot of pressure to answer these questions quickly but that doesn't excuse the incomplete answers," he said.
Louisiana Republican David Vitter said he had asked for Lynch's nomination to be held while he examined a 2012 agreement her office entered into with HSBC Holdings Plc. The agreement required the bank to pay more than $1 billion, but allowed it to avoid charges it failed to stop hundreds of millions of dollars in illegal drug money from flowing through the bank and the U.S. financial system.
That settlement has received renewed attention after media reports of a second investigation into the bank's Swiss unit, which allegedly helped wealthy clients evade taxes in their home countries by hiding money in Switzerland.
The committee is expected to take up Lynch's nomination again at its next business meeting later this month.
The issue with HSBC was a record setting fine. There was so much wrong with the case it would have probably put a real dent in their assets which ultimately could have caused a loss to consumers for the size of the actual fine. There is no other bank that were assessed one billion US. I don't think she was being nice to them. Seriously.
This new case is a new case. The international community is taking a look at the practice of banks and their offshoring habits because their customers have so much money in their banks they basically own the bank.
The ability of banks to enforce the law they live within is becoming more and more difficult because there are few and few million-billionaires.
I am sure the attorney that follows Ms. Lynch after she is made Attorney General will give the case as much attention and careful consideration as Ms. Lynch would. She is needed in Washington, it is time for her to assume her place in the Obama cabinet.
