Diamonds for infidelities, Sunshine for Swiss shadow banking
Good day for pay-to-play; Bad day for Swiss banks
GOOD DAY FOR: Pay-to-play, after the daughter of late British businessman Robert Charlton earned almost $500,000 by auctioning off diamonds and other jewels her father bought her mother every time he had an extramarital affair. In their 26 years of marriage, Robert bought wife Elizabeth Charlton more than 40 pieces of extravagant diamond jewelry, including antique rings, bracelets, earrings, and necklaces. (Reuters)
BAD DAY FOR: Swiss banks, after the U.S. and Swiss governments reached agreement on handing over information on 4,450 UBS bank accounts held by Americans suspected of tax evasion. Some 52,000 Americans have UBS Swiss bank accounts, according to U.S. estimates, but the 4,450 in the deal are the ones most suspected to hiding assets. Tax evasion is not a crime in Switzerland. (AP in Yahoo! Finance)
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
'Alligator Alcatraz will be a blight on the Everglades'
Instant Opinion Opinion, comment and editorials of the day
-
Kirsty Coventry: the former Olympian and first woman to lead the IOC
In the Spotlight Coventry, a former competitive swimmer, won two Olympic gold medals
-
Critics' choice: Carrying the flag
Feature The best barbecue in town, Bradley Cooper's cheesesteak restaurant, and more