Clinton Foundation Receiving Increased Donations From Swiss Bank UBS

Clinton Foundation Receiving Increased Donations From Swiss Bank UBS

Clinton Foundation Receiving Increased Donations From Swiss Bank UBS

UbsClinton640360The Wall Street Journal reports that donations from the Swiss bank UBS to the Clinton Foundation increased tenfold after Hillary Clinton intervened to settle a dispute with the IRS early in her tenure as secretary of state.

The Journal reports that total donations grew from less than $60,000 at the end of 2008 to approximately $600,000 by the end of 2014, with an estimated $32 million through entrepreneurship and inner-city loan programs launched in partnership with the Clinton Foundation. UBS also paid Bill Clinton $1.5 million to participate in a series of corporate question-and-answer sessions with UBS Chief Executive Bob McCann.

The legal battles with the U.S. government and UBS date back to 2007 when whistleblowers alleged that the bank had helped thousands of Americans open secret accounts to avoid paying taxes. In 2009, the bank paid a $780 million fine and turned over the name of 250 account holders as a part of a deferred-prosecution agreement.

However, also in 2009, the IRS requested the names of 52,000 U.S. citizens who owned secret accounts with the bank totaling an estimated $18 billion. The bank said that doing so would violate Swiss privacy laws, and UBS enlisted the help of the Swiss government.

Recently sworn in Secretary of State Hillary Clinton met with her Swiss counterpart, Foreign Minister Micheline Calmy-Rey in March of 2009, and over the next three months the U.S. and Switzerland engaged in a series of complex negotiations. Citing diplomatic cables published by Wikileaks and people involved in the case, the Journal reports that the U.S. pushed Switzerland to work for the release of American journalist Roxana Saberi, who was being held by Iran.

The result of the talks were the release of Saberi, the shutting down of the Swiss energy company’s Iran operations, and the willingness of the Swiss government to accept some low-level detainees from Guantanamo. In response to the Swiss, Hillary announced that UBS would turn over only 4,450 of their account-holders.

Once again, though, the Clinton’s are showing that they are not above profiting personally from their tenures in high offices, whether elected or appointed. Why should any of us be shocked that they would profit either directly or indirectly from a deal connected to her time as secretary of state? While the Journal reports that there are no wrongdoings involved in UBS’ donations to the Clinton Foundation or their affiliate loan programs, the contributions only help to show the Clinton’s hypocrisy and their level of greed.

Only in the Democrat party can someone malign big banks and Wall Street but then secretly accept millions from them, and have the media be mostly silent and find a way to justify the back room deals of crooks and philanderers. Can you imagine the type of deals made in another Clinton presidency? The thought is terrifying.

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