A Swiss Bank Is Set to Open Its Secret Files

When 19,000 people get their names released for evading $300 million in taxes a year (aided by UBS), should we feel good that they got caught or bad that fraud on this scale is possible? It isn't clear whether the $780 million payment by UBS to the IRS covers the back taxes. It is hinted at in the article. Here is my favorite part:

The bank will not have to pay additional fines and penalties, which could have brought the deal to more than $1 billion. People briefed on the issue said the banking crisis and the recession were factors in this decision by prosecutors.

A crisis they were part of will actually save them money in fines. Priceless.