UBS, the European banking giant has a problem with federal authorities in the U.S. Two individuals have been indicted and charged with avoiding taxes on funds deposited in an off shore UBS account. The bank is drawn in by allegations by federal prosecutors that the bank knew of the tax fraud and assisted by opening accounts and handling funds. Money laundering is always an uphill fight for federal prosecutors because of the political power banks wield in the Congress. Years ago Bankers Trust was targeted for assisting in the transfer of illegal funds from Russian sources and the matter was dropped. Noriega’s removal by force is another example of bankers and US armed forces uniting to thwart a takeover of money laundering for drug cartels.