Category: Politics

HSBC, Credit Suisse Sacrifice Employees To U.S., Lawyers Say

Swiss banks are turning over thousands of employee names to U.S. authorities as they seek leniency for their alleged role in helping American clients evade taxes, according to lawyers representing banking staff.

At least five banks supplied e-mails and telephone records containing as many as 10,000 names to the U.S. Department of Justice, according to estimates by Douglas Hornung, a Geneva- based lawyer representing 40 current and former employees of HSBC Holdings Plc (HSBA)’s Swiss unit, Credit Suisse Group AG (CSGN) and Julius Baer Group Ltd. (BAER)The data handover is illegal, said Alec Reymond, a former president of the Geneva Bar Association, who is representing two Credit Suisse staff.

“The banks are burning their own people to try and cut deals with the DoJ,” said Hornung. “This violation of personal privacy is unprecedented in the Swiss banking industry.”

Swiss banks want to settle a U.S. tax-evasion probe after the DoJ indicted Wegelin & Co. on Feb. 2 for allegedly helping customers hide money from the Internal Revenue Service. Credit Suisse, HSBC and Julius Baer, which have said they expect to pay fines to resolve the tax matter, are handing over data to mollify the U.S., according to Hornung.

Credit Suisse said the Swiss government authorized the delivery of staff names and that the “large majority” of employees have nothing to fear. Julius Baer and Zuercher Kantonalbank also said they received authorization. HSBC said it has delivered documents and is cooperating with the U.S.

HSBC, Credit Suisse Sacrifice Employees To U.S., Lawyers Say

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The U.S. is Going After Bradley Manning's Friends, So David House Trolled Them Back

The trial of U.S. Army private Bradley Manning doesn’t begin until September. But since the former intelligence analyst was placed under military detention over 800 days ago, accused of prying thousands of secret diplomatic cables and one notorious video from military servers and feeding them to WikiLeaks, Manning’s case has been mired in a swamp of controversy and secrecy.

In March of 2011, Hilary Clinton’s spokesperson called the government’s treatment of Manning “ridiculous, counterproductive and stupid,” echoing the concerns of the United Nations and Human Rights Watch, before he was forced to step down. And the case has been cloaked in a kind of secrecy that’s been compared by some observersto that around the trial of Lt. William Calley for his role in the My Lai Massacre in Vietnam. Except for scant leaks from the trial itself, all motions, briefs and transcripts of the proceedings have been kept under tight lock and key, even as the government has released transcripts from the hearing of September 11 mastermind Khalid Sheikh Mohammed.

Manning’s not alone. The slew of constitutional crusaders, activists and hackers who have come publicly to Manning’s defense and questioned his treatment have also found themselves in the government’s crosshairs. And one of them is trying to fight back by hacking away at the proceedings’ unusual cloak of silence.

The U.S. is Going After Bradley Manning’s Friends, So David House Trolled Them Back

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CHART: College Degrees Cost 1,120 Percent More Than They Did 30 Years Ago

In just three decades, the price of a college degree has skyrocketed 1,120 percent, according to a report from Bloomberg News. That rate of change is higher than medical care, food, and shelter:

As costs for college rise, the number of people dropping out before they receive a degree grows, even as many of those dropouts have already accrued debt. And the problem will likely get worse, since all indications are that the cost of college will continue to climb. Indeed, a degree would cost around $422,000 for children born today, if current trends hold.

The House of Representatives’ budget, meanwhile, would slash Pell Grant funding by$170 billion, making college even less affordable for more than a million students.

CHART: College Degrees Cost 1,120 Percent More Than They Did 30 Years Ago

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Why Can't We Teach Judgment?

Ever wish there was some high school or college course work that taught judgment? It is amazing how many times each week we see well educated, professional level and accomplished adults fail to use good judgment when interacting with their fellow employees, managers, or every day people in general.

We have all witnessed countless occasions where people have "opened mouth, inserted foot". Or, just plain don't get it. It amazes me how people set themselves up to fail and don't even see it coming.

I would like to share several cases or instances that come to mind.

A 26 year old female sixth grade teacher told her class she was very happy to be teaching at their school because the boys in her class said she was very attractive. Feeling good about what had been said by her male students, she mentions it to the school principal other faculty members in the teachers lounge.

Why Can’t We Teach Judgment?

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