Not directly related to your inquiry, sneuman, but other news concerning UBS last week probably has many Americans nervous and mightily pissed off. It used to be that Switzerland, which doesn't concern income
tax evasion in other countries any of its business, never cooperated with the US IRS. Well, not any more:
"Pressured by I.R.S., UBS Is Closing Secret Accounts
"Under pressure from federal authorities, the Swiss bank UBS
is closing the hidden offshore
accounts of its well-heeled American clients, potentially allowing their secrets to spill into the open."
For the entire piece, go to:
Chances are, at least a few of these people own some nice sailing and motor
vessels. Don't be surprised if some of that hardware
soon comes to market.
To your point on financial institutions pulling in their horns when it comes to sponsoring events like yacht racing
, it's already showing up in withdrawn sponsorship of high-profile PGA and USGA golf tournaments in the US, as well as other such tournaments around the world.