UBS Vs US

In the past several days, there has been a unique fight going on. The fight between US and UBS, if we observe the fight very keenly it is clear that US will be able to crack down on the people who are stashing away money from the tax departments. What can the other countries learn from this, it is very clear that there is no point in running away from the tax departments. there will definitely be a time when the respective governments (excluding Gulf since they don't have any tax) will start chasing such banks.

For more details please go through the below URL
http://economictimes.indiatimes.com/News/International-Business/UBS-to-fight-US-bid-for-client-names-in-July-trial/articleshow/4186000.cms

Rating Agencies

The rating agencies like S&P / Moody's were very good in deciding upon the ratings of a company,industry and a country. Off late from the mid of 2008, it looks like one of the reasons for the fall of the i-Banks was the rating agencies. For how long can this go on, now since we know that the basis of giving ratings itself is wrong. With the kind of deficit the US is going to have, we have to see how they are going to rate the country. Definitely there will be a lot of countries which will need to be down graded, now are they going to rate the country appropriately only time will tell.