UBS Bank is releasing the records of 19,000 numbered accounts to the US Government.
Federal officials allege that UBS knowingly helped wealthy American clients to defraud their government.
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UBS - (Public, NYSE:UBS)
Even those of us who?ve never had an offshore account could feel a sense of security knowing that there was some place in the world that, through wars and other catastrophes, remained neutral and respectful of people?s rights to their persons and property. Since the Middle Ages (when the Swiss banking system developed), Switzerland has been seen as the world?s "safe haven." That Switzerland has managed to maintain its national integrity, if you will, and the security of its banking system while set amidst implacable enemies may well be one of the most respectable feats any nation has managed.