Volcker Appointed to Overhaul Tax Code; Ken Lewis Sees Recession Bottoming; Ford’s Volvo Sales Moving Along; Romania Receives $27 Billion IMF Loan; IBM Transfers Jobs to India; Durable Goods Orders Rise; Brazil’s Stock Market Surges to Six Week High; Bank of America to Repay TARP Funds

Last week’s headlines were filled with news of a historic legal crackdown on UBS, the Swiss banking giant and what a 2008 Senate hearing identified as $100 billion in annual tax evasion by American owners of foreign accounts.

I don’t know which is worse – the taxes or the politicians’ demagoguery about taxes. Take your pick.

Surrounded by charges of tax evasion and breach of duty, Chairman Lee Kun Hee will step down from Samsung Group – parent company of 59 businesses and South Korea’s largest company.