Obama Golfing with the Biggest Tax Evader

Bob Bauman (June 28, 2010)

President Obama vacationed with UBS Chairman and CEO Robert Wolf last summer. The pair has an ongoing relationship. Wolf was a top donor to Obama’s presidential campaign.

Robert World is a leader in an industry that almost brought down the entire financial system. And then a beneficiary of the AIG bailout.

Oh, and then there was that other teeny little … what was it again?

Oh yes, the biggest offshore tax evasion case in all of U.S. history!

UBS paid $780 million to the U.S. Treasury to settle a massive investigation.

I previously wrote about Obama’s close ties with Robert Wolf. The giant Swiss bank is still under indictment after allegedly helping Americans evade millions in U.S. taxes.

UBS was one of the top 10 Obama corporate contributors. Wolf bundled contributions exceeding $800 million. (These could have been foreign contributions.)

And the president named his UBS banker-donor buddy to his White House Economic Advisory Board. George Soros (below) introduced Obama and Wolf at a small New York gathering in 2006.

Worldwide UBS Mess

There is an alarming catalog of UBS conflicts of interest. Civil and criminal indictments, fines and penalties, mismanagement that led to massive bank losses, and Swiss government name a few.

But this really is not, according to Russ Baker “…a story about Democrats — or Republicans either, although they were involved. Rather it was the edge of an amoral iceberg that is essentially trans-partisan and that constantly exerts influence on presidents and would-be presidents of all stripes.”

Says Baker, “Such revelations carry an important message: that American presidents, no matter how good their intentions, are inevitably enmeshed in a self-reinforcing web of interests and influences that permits the wealthy to shape our national destiny no matter who controls the government in Washington. Shining a light on the UBS-Obama link can serve as yet another warning beacon to anyone who underestimates the nature of the challenge facing American democracy.”

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Very interesting, folks!

Bob Bauman
Legal Counsel, The Sovereign Society
Chairman, The Sovereign Society’s Freedom Alliance

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Tags: Offshore Banking