Typically the Swiss argue that they maintain a reputable business and would be willing to turn over the names on accounts of any person or entity that has committed a crime. Of course that is a bit difficult to prove absent any cooperation from the Swiss and their never ending stonewalling as they have cleverly protested innocence while they endeavor to maintain one of the great "Catch-22's'" of all time.

Tax evasion is an obvious reason to hide assets, and hiding money from a spouse has happened often enough, but these may be just trifles compared to the money stolen from the people in nations around the world under the cloak of Swiss darkness.

Even tyrants have concerns about the appearance of impropriety. Saddam Hussein, the late Yasser Arafat, Fidel Castro, Russian oligarchs and perhaps a few of our own moguls have been suspected of skimming money from the top and hiding it away. It's time to open up all the records in these clandestine accounts everywhere.

I support the attempts by the IRS and the Justice Department to flush out the individuals and their banking accomplices around the world and bring the same transparency to the top of the economic pyramid as to those that are being crushed at the bottom.



If you believe there are good reasons to conceal accounts, please share your ideas.



UBS is was up today to $16.93 + $1.49 and reached $17.00 in after hours trading.

Sheldon Liber is the CEO of a small private investment company and the principal for design and research at an architecture and planning firm. He writes the columns Chasing Value and Serious Money. Disclosure: I do not own stock or options in UBS.