May 11, 2004

Swiss bank fined $100 million for sending US money to prohibited countries

The Federal Reserve fined Switzerland's largest bank, UBS AG, $100 million for allegedly sending dollars to Cuba, Libya, Iran and the former Yugoslavia in violation of US sanctions against those countries.

Switzerland has been hiding behind that "neutrality" façade long enough!
Not only did they bankroll the Third Reich and keep WWII going longer, but they actively participated in keeping the art, jewels and cash of Jews that were either confiscated by the Nazis and parked in Swiss banks or that were left there by Jews trying to protect themselves and their money when the Nuremberg laws went into effect in Nazi Germany (In the mid-to-late 1930's the Swiss gave German Jews the false impression that they would take them in as refugees from the Reich.)
In recent years, when Holocaust victims' family members have tried to reclaim at least part of their loved ones' fortunes, the Swiss have made this conditional on them providing a death certificate, knowing full well that none were issued or kept at the death camps.
Seems the only thing that stays the same is Swiss anti-Semitism.
Surely, they are now funding the terrorists, too.
Hopefully, this crackdown on UBS won't be the last.
Drying up Al Queda's money and that of the other Islamist terror groups (like Arafat's, for instance) is one vital battle we must win in the WOT.
The smackdown reported here is the only way to get the Swiss, which is to put a hurt on their wallets.