long article about EU legislation vs. extrateritorriality of US FISA etc. rules

[D. Hugh Redelmeier]

| From: Stewart C. Russell <scruss-Re5JQEeQqe8AvxtiuMwx3w at public.gmane.org>

| It's not quite that clear-cut.

Agreed.

UBS is between a rock and a hard place.  They or their subsidiaries
appear to have broken US and other laws.  To "make it right" they are
being asked to break Swiss laws.  The Swiss lawmakers have resisted
changing Swiss laws to help UBS out of this jam.

The Swiss lawmakers who rejected the change in law appear (from the
first article) to be rejecting it not on principle, but to use as a
lever in an issue about banker pay.

What a mess.

The cleanest solution might be to convict UBS of the crimes, force it
to release information that isn't under Swiss confidentiality law, and
let the chips fall.  UBS may be destroyed.

But of course I'm saying this with very little information or insight.

PS: UBS probably broke Canadian law too, and while Ernie Eves, our
former premier, was head of the Canadian subsidiary.  There are
reports that that violation was by non-subsidiary bankers.

PPS: anti-money-laundring and anti-tax-evasion rules are quite 
arbitrary and draconian.  They may have to be.
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