UBS Bank, Liechenstein aided U.S. citizens to hide 100’s of billions of dollars from the U.S government

A disgruntled engineer working at UBS Bank sold the names of all Americans with Bank accounts in the UBS Bank located in Liechtenstein.  UBS was reported on NBC world to have committed material crimes, and may lose it’s U.S. license as a result.  The United States Senate is holding hearings accusing UBS, Liceinstein of aiding the tax cheats. Compounding this problem with other commercial papers it sold to investors that U.B.S has stopped honoring because of large losses in the value of these packaged securities.

 UBS stock looks to be headed towards zero from my perspective or at least over valued.  Wall street journal said late July 16th, 2008 that the U.S has lost $100 billion to offshore tax evasion.  A major source of revenue selling packaged securities to investors is largely dead, and UBS has begun lowering values of paper issued and not honoring the paper as it had previously.  Banks are particularly vulnerable to shut down because they lend several times the amount of money they collect in the form of loans.  Usually in the neighbor hood of 10% of assets are to be held against a banks portfolio.  When a bank commits fraud. Large and small investors usually redeem deposits creating an exponential problem for UBS Bank in this case. 

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