Every year, the United States loses $100 billion in tax revenues to offshore bank accounts. Swiss bank UBS faced criminal prosecution for its role in evading taxes and protecting the assets of thousands of Americans. Senator Carl Levin (D-MI) led the investigation but the amount of money UBS spends in donating to American lawmakers makes his ambition seem inadequate in light of the conflicting interests on the committee.

Gabriela Resto-Montero

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