( - promoted by Phillip Martin)
Cross posted at Daily Kos.
This is a work in progress, folks. The updates follow at the bottom.
Next time a politician extols the virtues of trickle down economics put your hands over your ears and yell NO, NO, NO. Whether they know it or not, any politician who pitches the spin that unfettered fat cat wealth will trickle down to the masses is lying. Nothing is trickling anywhere. The fat cats are not spending their gazillions. They are hiding and hoarding their money for themselves.
It seems that the biggest fat cats of them all in this country and others, those who despise paying their taxes above everything else, have found safe havens in which they have hidden their treasures from the feds. A once renowned Swiss bank helped them do it. The whistle blower who outed the scheme at a U.S. Senate hearing last July, had feared for his life. He now lives in a
witness protection program. The article reveals how the Senate hearing had all of the trappings of a Mafia movie.
Kieber, declared a fugitive by Liechtenstein, is living in an undisclosed location, reportedly as part of a witness protection program, after providing information to government officials in England, Germany, the United States and other countries on their citizens who hid billions in wealth through the bank. The German government has admitted to paying him millions for the data.
In his videotaped testimony, Kieber described stumbling across the bank's secrecy schemes while working on a document conversion project several years ago.
"Going through thousands of documents. . . I got the very clear picture" of the "tricks" employed by the bank to help clients dodge tax collectors, creditors, even "international law enforcement agencies," he said.
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