The celebrations and congratulations over the U.S. Navy’s rescue of Capt. Richard Phillips are well deserved and proper all around. Yet even after the jubilation has quieted down, piracy in the high seas remains a threat to global trade. That’s important for the U.S. Senate to keep in mind when it again considers the Law of the Sea Treaty (LOST), which, as The Wall Street Journal’s Bret Stephens noted last November, could present some potential obstacles to American naval action against…

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I revoke my previous apology to the Swiss, and reiterate my previous disapproval.  As evidenced by the latest outcome in the U.S. tax case involving UBS, we have moved beyond troubling and into something much worse.

...the world’s largest wealth manager in terms of assets, agreed to pay a $780 million fine and disclose information about some of its clients to settle a landmark U.S. tax case.

As I said in my older post: “In direct contradiction to their own legal view of tax evasion. …

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As yesterday’s New York Times reports. Lost in the universal focus on the credit crisis, we have seen a somewhat troubling change taking place in Switzerland’s longtime bank secrecy laws.

Switzerland’s tax authorities, under pressure from a growing United States investigation into the Swiss bank giant UBS, are expected to hand over confidential data on wealthy American clients of UBS to the Justice Department, two people briefed on the matter said Tuesday.

The move would represent a significant shift in Switzerland’s banking…

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