Some people got a jump start on the early spring lawn chair sales.
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DOJ Curious to Know if Credit Suisse Pulled a UBS
That is, helped American clients stash money offshore.
Credit Suisse said Friday it had been notified that it was the object of an investigation by the United States Department of Justice, citing “a broader industry inquiry.” The Swiss bank said that it had previously received subpoenas and other information requests from the Justice Department and other government agencies regarding cross-border services that its private banking arm provided to American clients.
As you may recall, the situation for UBS didn’t turn out so well and they sorta went back on that whole “secrecy” thing. Unfortch for Credit Suisse, they’ll probably have to snitch too:
On Friday, a court in Lausanne upheld the Swiss government decision to force UBS to hand over client data, citing “virtually uncontrollable economic repercussions for Switzerland” if it had not done so. That decision implies that Credit Suisse, too, may be ordered to surrender information about customers’ accounts to American authorities.
Credit Suisse Discloses U.S. Inquiry Into Private Banking [DealBook]
Earlier: DOJ: You Bet Your A$$ We’re Going After More Offshore Tax Evaders
Democrats Ask Republicans to Blow Off Grover Norquist
Top Republican lawmakers have said that increasing revenues was the one approach off the table when it comes to deficit reduction. But Rep. Jan Schakowsky (D-Ill.) and 108 other House Democrats, in a letter dated Monday, said that position jeopardized the chances for a bipartisan agreement.
“Revenues must be a component of addressing our deficit and debt problems,” the Democrats wrote to Speaker John Boehner (R-Ohio). “Solving our fiscal problems with spending cuts alone would be devastating to our economy, to the middle class, and to vulnerable populations like seniors and low-income families.” [The Hill]
Last Call for Procrastination Station | 09.15.09
Here we are at last call for corporate and partnership tax returns. You’ve got until midnight eastern time tonight to get the stragglers filed (or maybe you just spend the entire day postmarking things in advance).
This is usually about the time in the morning where a manager or partner shows up in your office with shoebox filled with receipts and a hand-written set of financial statements for a very important client.
While this scenario seems like the type of nightmare that would send most people running into oncoming traffic, we assure you that it does happen.
So if you’re a fighting fires on filing day, or you’re a veteran of the procrastination station and have tales that are worthy of campfire ghost stories, discuss your experiences in the comments.
As for the rest of you who finished your clients up yesterday, you’re probably not even at work, so sober up and get into the office, tomorrow is the holiday.