Wednesday 12 September 2012

munity on the bounty

For the US (and I wonder who were the competent authorities in this decision-making process) to reward a former Swiss banking executive with a king’s ransom (some one hundred million dollars) for disclosing the apparent practices of his employer and the handling American clientele is undoubtedly incendiary and no recompense (should any materialise) can justify the damage being done to dialogue and diplomacy.

The already strained relations regarding reciprocation and transparency are being trounced further, and no caution was heeded though this routine has been well-rehearsed by some desperate (despite intentions) elements of the Germany government, who offered similar bounties for equally ill-gotten intelligence. Swiss banking culture, being what it is, models the integrity, discretion and independence of the confederation and cannot expect to assimilate the heavy-handed and rogue tactics of failed regimes that provoke such flight in the first place. Had the US Internal Revenue Service or the tax-code that governs their work been crafted and enforced in an equitable manner at the onset, there would be no need to try to deputize informants to act as its agents.