Something's fishy at UBS

Stuart Gibson, tax attorney for the Justice Department, stated, "It is time for UBS to face the consequences that it has brought upon itself." It's nice to see that the United States is gunning for blood when it's tax money that has been taken, but couldn't care less when Stanford and Madoff swindle innocent, hard-working Americans out of their money (not as much Madoff, he is going to jail for a long time). Where is the $500,000 bail for UBS like it was for Stanford? When the government gets shafted, they want retribution -- where is the retribution for the poor people scammed by others?

Supposedly, UBS told its U.S.-based clients to close their accounts in March and April and to transfer any money to a specially created U.S. unit, to another bank, or to simply withdraw the funds. Something is definitely rotten in Denmark here, or Sweden -- wherever UBS is located.

That said, I don't want to participate in what some have said is irresponsible journalism and suggest an appropriate punishment. I just know that UBS certainly doesn't appear to have dealt with things above board as far as U.S. laws are concerned, and the government is after its money. This situation definitely warrants monitoring, as it could impact the way overseas banks and the U.S. government interact in the future.