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Offshore Banking Shifts to Asia

Author: Jacob Stein • Tags: asia, bank, offshore • Posted on: Sep 23, 2010

Yesterday's New York Times had an interesting article on offshore banking.  Apparently, following the shameful conduct of UBS and the Swiss government (yes, shameful), hundreds of billions of dollars left Swiss bank accounts and moved to Singapore and Hong Kong.  It is estimated that at least $200 billion left UBS alone.

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