Is There a Smoking Gun in Credit Suisse Case?

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Feb. 26 (Bloomberg) –- Bloomberg’s Phil Mattingly reports on Credit Suisse being under fire for tax evasion. He speaks with Erik Schatzker on Bloomberg Television’s “Market Makers.” (Source: Bloomberg)

Hill.

As is always the case with the senate subcommittee on investigations, they have dredged up very persuasive evidence.

The idea that 22,000 americans use accounts by credit suisse and there are 1800 credit suisse bankers servicing american cop -- customers in the office.

The list goes on.

What does dugan so far have to say for himself?

The numbers look bad and the anecdotes look worse.

What dugan is really saying right now is, we are institution caught between two jurisdictions and cannot figure out a way to make this work better.

We would love to help up -- help comply with the u.s., but another key thing always important, he said something else first.

They are sorry.

Take a listen.

We regret very deeply that despite industry, we have private bankers.

. a caveat there, they say a small number of bankers appear to have violated the law.

How they try to rectify that and figure out who is right and who's wrong, that is the big question as the hearing goes on.

The point, is in the senate trying to prove the unprovable, without a smoking gun?

Without e-mails to tie the banks , the private banking practices and how they wrote compliances, to does people in other higher-ups in credit suisse, there is no proof as it were.

Quest that is very true.

What you have seen with the report, 180 paid it -- pages, there is no direct objectives.

What you have seen from the staff is them saying, too many people were working on this for top executives to not have known about it.

We are talking about 12 lane dollars of u.s. assets they believe were hitting through the process.

How could you not recognize?

To your point, they do not have names.

They are talking about accounts, the vast majority hidden from the irs.

They do not have those.

You do not have names or e-mails or those types of documents.

You cannot make the ties even if they exist.

Quest thank you for bringing us

This text has been automatically generated. It may not be 100% accurate.

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