Ex-Wives Said To Eagerly Await UBS Client Disclosures
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According to Time magazine, there are plenty of ex-wives with an interest in the outcome of the investigation too. So, the account holders could find that they are not only liable for tax (and possible penalties), but they may have to hand over much of what's let to their Exs.
In the meantime, The New York Post reports that former UBS private banker Bradley Birkenfeld has been sentenced to 3 years and 4 months in clink for his part in helping clients hide assets from US authorities.
The newspaper also reports that Goldman Sachs is on the look-out for a decent PR consultant to help with the it's so-called image problem (caused, of course, because it is simply too successful). The firm is also thought likely to go easy on bonuses this year-end in order not to further stir up the anger against it, and some feel that the money saved could be put towards purchasing some of its own stock. The smart money thinks it's now only a matter of time before Goldman takes itself back to being a private firm.
Finally, Reuters reports that Morgan Stanley is thought to be mulling over its options in respect of its Van Kampen Investments unit, which has some $85bn under management. The firm is apparently considering a partial, or outright, sale of the business.
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