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Carl Levin Crucifies Credit Suisse For Aiding And Abetting Tax Evasion: Watch Live

Tyler Durden's picture




 

As we reported last night, in a scorching 175-page report, the Senate Subcommittee on Investigations threw the book at the second largest Swiss bank Credit Suisse for allowing up to 22,000 Americans to avoid paying taxes for years. Today is the obligatory post-report spectacle which since it is headed by Carl Levin, of Goldman "Shitty Deal", fame, promises to be quite a populist fest.

The Credit Suisse employees lined up for crucifixion are the following:

    BRADY W. DOUGAN
    Chief Executive Officer
    Credit Suisse Group AG, Credit Suisse AG
    New York, NY

    ROMEO CERUTTI
    General Counsel
    Credit Suisse Group AG, Credit Suisse AG
    Zürich, Switzerland

    HANS-ULRICH MEISTER
    Co Head, Private Banking and Wealth Management, Chief Executive Officer - Region Switzerland
    Credit Suisse Group AG, Credit Suisse AG
    Zürich, Switzerland

    ROBERT S. SHAFIR
    Co Head, Private Banking and Wealth Management, Chief Executive Officer - Region Americas
    Credit Suisse Group AG, Credit Suisse AG
    New York, NY

Watch it live below.

 

The full Senate report is below (pdf link)

 

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Wed, 02/26/2014 - 10:43 | 4479857 Sudden Debt
Sudden Debt's picture

TAXES ARE A MAN'S BEST FRIEND!!

WE MUST ENSURE EVERYBODY GETS TO PAY SOME

AND IF POSSIBLE MORE!!!

IT'S IN THE CONSTITUTION!! the new one that is...

Wed, 02/26/2014 - 10:44 | 4479859 Richard Chesler
Richard Chesler's picture

Epic wrist slapping!

Wed, 02/26/2014 - 10:48 | 4479886 doomandbloom
doomandbloom's picture

Y NO PLEAD DA FIF'

Wed, 02/26/2014 - 10:49 | 4479892 Arius
Arius's picture

this too shall pass ...

signed: frustrated

Wed, 02/26/2014 - 13:28 | 4480656 doctor10
doctor10's picture

Ahh...the US Senate -"our" emplyees-reminding the peasants and peons-they can run but they can't hide-and neither can those aiding and abetting them!!

Wed, 02/26/2014 - 10:45 | 4479864 Charles Nelson ...
Charles Nelson Reilly's picture

Levin is rertiring.... as a millionaire leach.  Yet another despicable politician who has raped the system.

Wed, 02/26/2014 - 11:44 | 4480111 machineh
machineh's picture

Starve the Beast ... and pauperize a KongressKlown.

Wed, 02/26/2014 - 11:47 | 4480135 A Nanny Moose
A Nanny Moose's picture

How does one "rape" a system of legalized plunder?

Wed, 02/26/2014 - 13:43 | 4480729 James_Cole
James_Cole's picture

"Levin is rertiring.... as a millionaire leach. Yet another despicable politician who has raped the system."

Like Ron Paul? Levin is one of the very few people in congress worth a shit.

And for people of his generation, not hard to have become a millionaire having bought a house in the right area and socked a little money away into usts each year, even with a median salary.

Wed, 02/26/2014 - 10:46 | 4479871 augustusgloop
augustusgloop's picture

Next life, become a lifetime politician - Carl Levin - net worth over $2 Million. 

Wed, 02/26/2014 - 12:41 | 4480405 XitSam
XitSam's picture

He made his money the old fashioned way: Corruption.

Wed, 02/26/2014 - 10:47 | 4479877 Dr. Engali
Dr. Engali's picture

Screw Carl Levin the fucking hypocrite. He is doing fine living the good life on the backs of the American tax payer.

Wed, 02/26/2014 - 11:05 | 4479954 The_Ungrateful_Yid
The_Ungrateful_Yid's picture

The tribe show no mercy.

Wed, 02/26/2014 - 12:33 | 4480372 Van Halen
Van Halen's picture

Do we curse Levin or praise him for being smart enough to recognize where a stupid voting block could be found election cycle after election cycle?

Wed, 02/26/2014 - 10:48 | 4479884 ShortTheUS
ShortTheUS's picture

Sad time In the Land of the Free, when an elected official glorifies forced confiscation of property.

Wed, 02/26/2014 - 10:48 | 4479885 Pareto
Pareto's picture

------->SnP 1860 breakout today (POMO)

------->SnP 1820 breakdown

Wed, 02/26/2014 - 10:49 | 4479887 lordylord
lordylord's picture

Tax evasion is God's work.  May you be fleet of foot.

Wed, 02/26/2014 - 10:52 | 4479905 Winston Churchill
Winston Churchill's picture

Says avoid, not evade.

Avoidance is now illegal ?

Wed, 02/26/2014 - 12:09 | 4480244 Emergency Ward
Emergency Ward's picture

If its up to the likes of Greedy Carl, yes.

Wed, 02/26/2014 - 10:51 | 4479898 lunaticfringe
lunaticfringe's picture

Another dog and pony show. Wake me up when they drag the ropes and guillotines out. Until then it's all just so much bullshit.

Wed, 02/26/2014 - 10:57 | 4479921 youngman
youngman's picture

when they publish the names..that is when it will get good..whos on the list...I bet quite a few politicians are

Wed, 02/26/2014 - 12:05 | 4480217 WhiteHose
WhiteHose's picture

One can only hope we ever see the list

Wed, 02/26/2014 - 10:58 | 4479929 BurningFuld
BurningFuld's picture

Three words Carl: Apple, Microsoft, Google.

Wed, 02/26/2014 - 11:01 | 4479939 Doubleguns
Doubleguns's picture

Carl doth protest to much, me thinks.

 

 

Wed, 02/26/2014 - 11:04 | 4479946 ziggy59
ziggy59's picture

Carl, maybe you should read Zerohedge...
..and would be willing to swear under oath you didnt know about this for years, that you know no one( hint: your peers) that stash away some to lots of theirmoney overseas? Come on Carl..
You are only doing your theatrical job because its still in the news...

Lets see justice, not Just Us

Wed, 02/26/2014 - 11:11 | 4479966 Mercury
Mercury's picture

Switzerland needs to have a come-to-Jesus moment about what exactly their busines model is these days and whether or not they should accept the idea that neutrality is the new evil.

Wed, 02/26/2014 - 11:15 | 4479967 Mercury
Mercury's picture

Mr. Senator you have just received an email indicating that your most recent account statement is now available online...

 

Oh, ahem…yes, of course…as I was saying, round up the usual suspects!

 

Wed, 02/26/2014 - 12:01 | 4480194 WhiteHose
WhiteHose's picture

LMAO!

Wed, 02/26/2014 - 11:09 | 4479974 ebworthen
ebworthen's picture

Man, CONgressional theater is just getting more and more polished, what with all their practice.

"Honorable" Mr. Levin; when are you going to crucify J.P. Morgan Chase and Wells Fargo for mortgage fraud and other skullduggery and malfeasance?

When are you going to crucify Apple for hiding hundreds of billions of taxable profits in a shell company in Ireland with no employees and just a P.O. Box?

When are you going to crucify HSBC, RBS, and other foreign banks for running drug money laundering operations and rigging LIBOR rates?

Crickets...

Wed, 02/26/2014 - 11:10 | 4479975 WTF_247
WTF_247's picture

What is the point - its a dog and pony show.  NOTHING ever happens - they could have film evidence of the four of them admitting to 100% of it and laughing and nothing would happen.  

This is for political points only - its coming up on elections.  The govt never enforces any laws against these corps or the employees - basically its pay a fine and move on no matter what happens.  

To boot, the Fed has been handing out the money for the fines the last 5 years.  I think they time these hearings/indictments with the cash hoards that are handed out by the Fed.  This crap was likely known 3-4 years ago or more.  Just like JPM.  They hold off on saying or doing anything until the appropriate fine money has been passed out by the Fed.  Then the govt takes it back.  The public is happy they are "doing something" and all is well at elections.

Wed, 02/26/2014 - 12:03 | 4480206 dexter_morgan
dexter_morgan's picture

What is the point - its a dog and pony show.  NOTHING ever happens

 

THAT IS EXACTLY ALL THESE WITCH HUNTS ALWAYS ARE. It plays well to 99% of the 99% which is why they do it.

Wed, 02/26/2014 - 11:16 | 4480010 buzzsaw99
buzzsaw99's picture

blowhard scumbag

Wed, 02/26/2014 - 11:20 | 4480024 Blano
Blano's picture

Two words describe the foxes guarding the henhouse:  1) Levin, and 2) McCain.

Wed, 02/26/2014 - 11:24 | 4480033 SillySalesmanQu...
SillySalesmanQuestion's picture

Is this another "shiity deal" Carl?

Wed, 02/26/2014 - 11:31 | 4480057 El Hosel
El Hosel's picture

Your loss are our lesson learned.

Wed, 02/26/2014 - 11:33 | 4480053 TrustbutVerify
TrustbutVerify's picture

He "crucifies" while realizing that taxes in no way can fix the astounding deficit and debt burden problem hanging over the head of this country.  With this considered, his misguided blustering is a vacuous facade. 

Wed, 02/26/2014 - 11:35 | 4480074 El Hosel
El Hosel's picture

We won't break any law that is not in our best interest to break.

Wed, 02/26/2014 - 12:45 | 4480426 Van Halen
Van Halen's picture

Levin knows, as you state, full well this piddly amount of taxes he might get back will do nothing to help the deficit. The real reason is to give his buddies a heads up to move their money from this location into a more secure/secret one. And to let the rest of us know - just like that scene in The Road Warrior with the rabbit - that no one will escape. Nothing will get away. Nothing.

 

http://www.youtube.com/watch?v=ZfL4xKQeSfo

Wed, 02/26/2014 - 11:32 | 4480063 Vooter
Vooter's picture

Unless these people are going to be either a) gang-raped in prison or b) carted off and gassed, I don't want to hear about it...

Wed, 02/26/2014 - 11:38 | 4480093 Ident 7777 economy
Ident 7777 economy's picture

 

 

IRS Scandal, Day - what? Number 292 or so?

 

 

 

Wed, 02/26/2014 - 11:41 | 4480104 overmedicatedun...
overmedicatedundersexed's picture

Our dear senators are exempt from "shared responsibility payments"...

IRS you will pay (obey) or face a “shared responsibility payment” when filing their tax returns in 2015. The term “shared responsibility payment” refers to the Obamacare individual mandate ..a tax on not buying health Ins..

Wed, 02/26/2014 - 11:47 | 4480136 machineh
machineh's picture

Levin (who voted FOR Obamacare) can come after me, when I dodge his stinking Obamacare penalty.

Invoking my right to remain silent, I'll just twist one middle finger in the air, while making masturbatory motions with the other hand.

Contempt of Kongress? That's right, SIR!

Wed, 02/26/2014 - 11:45 | 4480121 ptolemy_newit
ptolemy_newit's picture

I read all this hate of your politicians, sure everyone knows they are in bed.  very angry people, yet NO BALLS!

Sad really

Whatever happened, its not a shortage if guns or patriots.  Opps forget that patriot word, they have been exiled.

 

Very sad

 

 

Wed, 02/26/2014 - 11:55 | 4480170 Uncle Remus
Uncle Remus's picture

Fuck you Carl.

Wed, 02/26/2014 - 11:59 | 4480191 dexter_morgan
dexter_morgan's picture

Is that fucker still in congress? WTF, boy do we ever need term limits.

Wed, 02/26/2014 - 12:02 | 4480200 maneco
maneco's picture

How about putting these guys in prison for once!

Wed, 02/26/2014 - 12:12 | 4480271 Emergency Ward
Emergency Ward's picture

I agree, starting with Carl....

Wed, 02/26/2014 - 12:03 | 4480202 WhiteHose
WhiteHose's picture

AS Celente says, politics is  "show business for ugly people".

Wed, 02/26/2014 - 12:09 | 4480247 dexter_morgan
dexter_morgan's picture

Gonna steal that line. Funny. Sad, but funny.

Wed, 02/26/2014 - 12:06 | 4480229 jackstraw001
jackstraw001's picture

The Credit Suisse (and all other) douche bag banksters deserve a lot more punishment than a public hand slapping but having that fucker Carl Levin lead the charge is more than I can handle.  What a fucking hypocrite.  

Wed, 02/26/2014 - 14:07 | 4480834 Emergency Ward
Emergency Ward's picture

Look at the other name on the cover sheet of the report: John McCain, Ranking Minority Member

Wed, 02/26/2014 - 14:49 | 4481076 WillyGroper
WillyGroper's picture

He's rank alright.

Wed, 02/26/2014 - 12:10 | 4480260 dexter_morgan
dexter_morgan's picture

Member of the tribe 'crucifying' someone.....go figure.

Wed, 02/26/2014 - 12:26 | 4480302 Emergency Ward
Emergency Ward's picture

well dex, the oppressive government agencies need more funding, so Carl and his buddies figure they can shake down some of the fat cats, Carl believing that it's better to have more a powerful police state than to let the fat cats keep a few crumbs for themselves.....

  • "FBI? 'Fucking Bunch of Idiots'."
  • "Christ on a fucking cracker."
Wed, 02/26/2014 - 12:20 | 4480314 villainvomit
villainvomit's picture

Fuck that jackass bastard CL 

asisna bastarda canicula

he won't do anything......ok maybe he will whine.

That's all.

Wed, 02/26/2014 - 12:23 | 4480326 dexter_morgan
dexter_morgan's picture

Been there since when the state of Michigan was thriving and has overseen the decline of that once proud state. Way to go, jackass.

Wed, 02/26/2014 - 12:24 | 4480332 kurt
kurt's picture

Screw the bank, screw the 22,000, don't stop screw all forms of off shoring. 

Get ready to down arrow...

If I pay my fair share of taxes why shouldn't they, and you assholes?

Wed, 02/26/2014 - 13:05 | 4480540 Leraconteur
Leraconteur's picture

It's not your money and it's not the government's.

How much did the IRS "lose". 22,000 and how much in taxes lost?

Was it 17 trillion?

Didn't think so... 

Wed, 02/26/2014 - 12:30 | 4480358 Van Halen
Van Halen's picture

Considering where we are today as a result of how all the tax revenues over the last fifty years were spent, the people who were able to avoid paying them should be revered as heroes.

Wed, 02/26/2014 - 12:35 | 4480381 Blazed
Blazed's picture

Go suck a kosher pickle Mr. Levin, no one is buying your bullshit attempts to paint Switzerland as the new "bad guy", just because they won't go along with your "tribes"nation wrecking open immigration agenda. 

Wed, 02/26/2014 - 12:44 | 4480419 ItsDanger
ItsDanger's picture

What a joke.  IRS is behind the times.  More interested in abusing NFPs.

Wed, 02/26/2014 - 12:48 | 4480449 Atlantis Consigliore
Atlantis Consigliore's picture

the honorable Carl Levin, the honorable John Corzine,  LOL,  vomit. 

lets do the Kazaski russian dance and buy all dat real estate in Florida , trusts no faxes and flip to the Stars,  

hint,  see all da Hollywood pimps and wh,  trying to dump their million homes in Holly, Bev, and Mailbu,  no bids.l

what asset classes are non taxable?   all cash, lol,   

Wed, 02/26/2014 - 13:30 | 4480667 highwaytoserfdom
highwaytoserfdom's picture

30% political contributions foreign..   DNC/RNC  piggy bank.....  LOL homeland Security.....     SECURITY wants to profit from money laundering and bankers are just the conduit...  MORAL HAZARD....   THIS IS CORPORATE AUTHORITARIANISM FASCISM...   http://l.barackobama.com/cochairs/  Here is the crime syndicate they have withheld this information... heck Lew  got 900k from Citi.....  Clinton crime syndicate.....  I DON'T HAVE TO TALK ABOUT MITT........RNC/DNC

 

IRS IS GOING AFTER WHO?    THIS IS THE LIBERTARIAN PROGRESSIVE MOVEMENT....  NOTICE WARREN NOT THERE.  NOTICE NSA/CIA/FBI/JUSTICE   NOT THERE....  

SWITZERLAND DOES NOT HAVE SDR'S SO TBTF MAFIA..  THESE LAWYERS ARE THE PEOPLE WHO SET THIS UP.

Wed, 02/26/2014 - 13:51 | 4480763 kchrisc
kchrisc's picture

"As we reported last night, in a scorching 175-page report, the Senate Subcommittee on Investigations threw the book at the second largest Swiss bank Credit Suisse..."

Translation: "Pay us more or we'll make things difficult for you."

Pols and crats don't "investigate" things. Their committees and "investigations" are either to find leverage points for their benefit or to cover something up.

 

"I can make pol, crat and bankster stew with my guillotine."

Wed, 02/26/2014 - 14:42 | 4481033 TKList1
TKList1's picture

Do you like jumping through tax code hoops, do you like hiring an accountant, do you like worrying about an audit, do you like figuring out what you can legally do with your money this year, do you like being manipulated by the tax code?

 

If your answer is yes do nothing, if it is no; start voting for people who pledge to abolish the IRS and the tax code,  who will support the repeal of the 16th Amendment and who support the Fair Tax.

 

Repeal the 16th Amendment, abolish the IRS and the Tax Code, and enact the Fair Tax. Less money will go into politics because there will be no Tax Code to manipulate. There will be much less for the special interest groups to hijack.

 

Abolish the IRS and the 16th Amendment, stop the self-imposed insanity. 

Wed, 02/26/2014 - 15:02 | 4481156 alangreedspank
alangreedspank's picture

If only the government could get its hands on more revenue! That's what the problem is! /sarc

Wed, 02/26/2014 - 16:43 | 4481717 highwaytoserfdom
highwaytoserfdom's picture

http://www.icij.org/offshore/secret-files-expose-offshores-global-impact

Kidding Joke Penny Pritzker sailed through both houses..    There are a a dozen of these clowns and thousands of donors....

http://l.barackobama.com/cochairs/   Julius Baer is a Swiss private banking group is Debbie Wasserman Schultz's account.

if you think for a second that  Mitt Romney, McCain camps are different. 

Bank of America, N.A., New York and Grand Cayman Branches, BNP Paribas, Banc of America Securities LLC and the other banks party thereto. (Incorporated by reference)Bank of Nova Scotia Trust Company of New York.

 

THERE IS BENEFICIAL OWNERS OF FORTUNE 1000 IN BANKING CABAL... FASCISM

Cayman, Cook islands,  same as Cyprus....... 

 

Thu, 02/27/2014 - 04:05 | 4483711 K_I_T_T_Y
K_I_T_T_Y's picture

Dear Mr. Levin,

if you are looking for unpaid taxes, please go to Delaware first!

Regards

 

 

 

 

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