Switzerland Freezes Mubarak's Assets ... Will Other Countries Follow Suit?

George Washington's picture

Washington’s Blog

According to Al Jazaeera, the Swiss government has frozen the assets of ousted Egyptian president Mubarak:


Update: confirmed by Reuters.

Will the United Kingdom and other countries which hold Mubarak's money gained through murder, torture, oppression and corruption do the same?

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UP4Liberty's picture

I thought "murder, torture, oppression and corruption" is historically the most tried and true process?  If it works for other tyrants, why not try it?  What's good for the goose is good for the gander, right?



Missing_Link's picture

You say "murder, torture, oppression and corruption" like it's a bad thing.

JW n FL's picture
"Switzerland Freezes Mubarak's Assets ... Will Other Countries Follow Suit?"

Only his public assets, not the LLC / LLP / Trust (burried) monies... offshore will not help freeze any of his monies as well. the tip of the iceberg will be sacrificed for the larger / bulk of the monies un-seen.

AnAnonymous's picture

Big propaganda. This dictator got punished for failing and it is not depicted as a punishment but an act of justice.

The egyptian tyrant is no more guilty today than he was yesterday.

The only change: he failed the West.

falak pema's picture

To be a jew from nazi germany during the war meant you got fleeced in Switzerland if you placed your money there-in. But then having gone through the pangs of 'Shoah' guilt maybe the swiss banks now only choose to foreclose those who have hooked accounts, not hooked noses...thank Jehovah for small mercies...

Azannoth's picture

"Did Six Million Really Die?"


"Of course, atrocity propaganda is nothing new. It has accompanied every conflict of the
20th century and doubtless will continue to do so. During the First World War, the Germans
were actually accused of eating Belgian babies, as well as delighting to throw them in the air and
transfix them on bayonets. The British also alleged that the German forces were operating a
"Corpse Factory", in which they boiled down the bodies of their own dead in order to obtain
glycerine and other commodities, a calculated insult to the honour of an Imperial army. After
the war, however, came the retractions; indeed, a public statement was made by the Foreign
Secretary in the House of Commons apologising for the insults to German honour, which were
admitted to be war-time propaganda. No such statements have been made after the Second
World War."

stev3e's picture

WTF - all of a sudden the Swiss are taking the moral high road.  They didn't have a problem taking his deposits during all of those years of alleged corruption.

BigJim's picture

C'mon guys.

The US put pressure on the Swiss to block his funds, thus sending a message to all their other puppetkings in the middle east that if they don't hold onto their fiefdoms, they won't get to spend their ill-gotten wealth.

Expect future public demonstrations to be put down with redoubled ferocity.

Cognitive Dissonance's picture

Will the United Kingdom and other countries which hold Mubarak's money gained through murder, torture, oppression and corruption do the same?

Murder? - NO!

Torture? - NO!

Oppression? - NO!

These are all consider fair game business methods in the modern world and thus any spoils gained may be kept.

Corruption? - Maybe. Depends upon who the money was stolen from. From the USA? Don't worry, we'll just print more. From Israel? There is no place you can hide.

Isotope's picture

I think it was G. Gorden Liddy who said that in most parts of the world, pain is a second language.

colonial's picture

are you kidding?  Mubarak has been in power for 30 years and has taken 20% of every major deal done in Egypt...and we're not even counting millions in foreign aid.  Its been widely reported that he's worth in excess of $40B.  Let's say the Swiss have "frozen" a big chunk of this, something like $12B.  So what.  He's still got at least $28B, plus who knows how much else we don't know.  The arab world will cover for him so any money in places like Jordan, Syria, UAE, Saudi Arabia will stay right where it is. 

Maybe Egypt needs to hire Irving Picard.

anarchitect's picture

Bravo. The program should be extended to include the accounts of all politicians who have pressured Swiss banks to violate privacy laws.

apberusdisvet's picture

Let's see:  the banksters world wide need gold for their empty vaults; how much does/did Mubarek have?

VegasBD's picture

Sure, if they want bank runs at 60b a pop from all those countries...