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Swiss bankers admit ‘mistake’ shielding money

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WASHINGTON — Credit Suisse executives admitted that the giant Swiss bank helped Americans shield as much as $12 billion from taxes and even acknowledged the practice was a “mistake” and “unacceptable.”

But they said they couldn’t do much beyond ending the active efforts of some employees to help U.S. customers evade taxes. That’s because Switzerland’s long-standing bank secrecy law, they said, prevents them from turning over the names of most of their tax-evading former customers to the U.S.

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