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Bradley Birkenfield on CBS 60 Minutes re: Offshore Banking 2nite
Internal Administrator
Posted: Saturday, August 13, 2011
Joined: 10/12/2010
Posts: 5780

Posted: 1/3/2010 1:47:31 PM

By: socheesy;cbsCarousel

Posted: Saturday, August 13, 2011

Posted: 1/8/2010 7:44:54 AM

By: David Marchant

During the '60 Minutes' interview, Birkenfeld gave an absurd response to a question asking why, if he did not believe he was doing something illegal, he had gone to the trouble of storing gems in a toothpaste container when entering the country, instead of storing them in something less suspicious, e.g. a box.

Birkenfeld's answer was something along the lines of 'this is the most natural and normal way to transport gems'. This is not believable and it significantly undermined his credibility, in my opinion. It was obvious that he was being disingenuous.

Posted: Saturday, August 13, 2011

Posted: 1/5/2010 10:58:29 AM

By: exxpat

This will act to discourage whistleblowers and encourage crime.

Posted: Saturday, August 13, 2011

Posted: 1/4/2010 10:40:07 AM

By: knightmare3000

I saw the show. I still think that the real reason this happened was that Birkenfield did not get his bonus.he says he shall not return to Switzerland. he is going to prison. however there are still those that bank offshore. the real estate developer that hid $200 million just paid a $50 million dollar fine and that was it--no jail time. so my guess is that most with offshore accounts will get a slap on the wrist. probably Switzerland will not be used as it once was. other locales for banking in secret: Andorra, Uruguay, Belize. still if I banked in those locations, I would not feel the money was that safe. to put it in perssepctive, consider Mr. Tepper in New jersey. as a hedge fund manager,he made $2 billion last year for his base pay from the Appaloosa hedge fund. I think he pays his taxes and the fund is located in the Caymans. so I don't know why all the fuss over a land developer that hid $200 million. that is only a fraction of legal money in hedge fund trading. so get into hedge funds and make some real money


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