I am quoted in UBS Case

I was recently quoted in the Wall Street Journal, the Los Angeles Times, the Chicago Tribune, MarketWatch.com , the Hedge Fund Manager Blogspot and a number of other media outlets on the the agreement between the U.S., Swiss authorities and the Swiss bank UBS.

Under the August 19, 2009 settlement, U.S. tax authorities will gain access to 4,450 accounts of Americans who have accounts with UBS, in exchange for dropping a lawsuit against UBS demanding the names of 52,000 holders.

Under a voluntary disclosure amnesty program, U.S. taxpayers have until September 23 to reveal the existence of foreign bank accounts to avoid potential criminal prosecution. Many have already done so, and because of this agreement. I believe that many more will start coming forward on their own.