A man enters a UBS bank in Hong Kong last month. The Swiss banking giant agreed in 2009 to identify the names of its U.S. account holders, part of a push by banking regulators to make it harder to hide income.
Originally published on Fri January 11, 2013 7:43 am
Time was that a Swiss bank account was synonymous with confidentiality and keeping assets from prying eyes. No more.
Last week, Switzerland's oldest bank, Wegelin & Co., pleaded guilty in a New York court to helping Americans hide $1.2 billion from the Internal Revenue Service over a decade-long period. Wegelin's plea, and a $57.8 million fine, forced the bank to shut its doors. It follows a $780 million settlement with UBS in 2009 that forced the Swiss banking giant to identify the names of its U.S. account holders.
The widow of slain Civil Rights organizer Medgar Evers will deliver the invocation at President Obama's inauguration. Myrlie Evers-Williams will become the first woman, and someone other than clergy, to say the prayer that precedes the ceremonial oath of office, as The Washington Post reports.
The inaugural ceremony will take place on Jan. 21, Martin Luther King Jr. Day.
Jay Mathews writes the Class Struggle column for The Washington Post, and looks at issues like educational disparities and access to higher education. He's documented persisting problems and highlighted creative solutions. He talks with host Michel Martin about the past, present and future of education in America.
It's been two years since the shooting in Tucson, Ariz., that killed six people and injured former Rep. Gabrielle Giffords, D-Ariz. To learn what has and hasn't changed since then, host Michel Martin talks with Daniel Hernandez Jr., Giffords' former intern who was credited with saving her life, and Carolyn Lukensmeyer of the National Institute for Civil Discourse.
Dec. 21, 2011: Petty Officer 2nd Class Marissa Gaeta, left, kisses her girlfriend of two years, Petty Officer 3rd Class Citlalic Snell at Joint Expeditionary Base Little Creek in Virginia Beach, Va. Gaeta's ship had returned from 80 days at sea. Their "first kiss" that day was a first of its kind for the Navy.
President Obama and Afghan President Hamid Karzai greet each other during a May 20 meeting at the NATO Summit in Chicago. Karzai is in Washington, D.C., this week to meet Obama and other senior U.S. officials.
Afghan President Hamid Karzai is in Washington this week for meetings with President Obama and other senior administration officials. The talks are expected to help set the framework for U.S. involvement in Afghanistan after the bulk of American and NATO forces leave at the end of 2014. One of the key issues to be discussed is the number of American troops to remain in Afghanistan after that date.