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Credit Suisse is limiting probe into Nazi bank accounts, US lawmakers say
(JTA) — The U.S. Senate Budget Committee has accused Credit Suisse of impeding an investigation into former accounts at the bank held by Nazis, including many who fled to South American countries after World War II.
On Tuesday, the committee released two reports, one by an independent ombudsman the bank had hired to oversee the investigation and one by a forensic research team. The bank fired the ombudsman, American lawyer Neil Barofsky, in November, months into his investigation.
“Credit Suisse’s decision to stop its review midstream has left many questions unanswered, including questions about the thoroughness of its prior investigative efforts, the extent to which it served Nazi interests and the bank’s role in servicing Nazis fleeing justice after the war,” Barofsky wrote in his findings, according to reports.
Sen. Chuck Grassley, the Senate committee’s ranking Republican, added in a statement on Tuesday: “When it comes to investigating Nazi matters, righteous justice demands that we must leave no stone unturned. Credit Suisse has thus far failed to meet that standard.”
Jewish organizations have long claimed that in addition to playing a key role in financially supporting Nazi Germany, Credit Suisse has held onto money looted from Jews long after the war. In 1999, the Swiss bank paid Jewish groups and Holocaust survivors a settlement of $1.25 billion in restitution for withholding money from Jews who tried to withdraw their funds.
In 2020, the Simon Wiesenthal Center, an antisemitism watchdog named after a famed Nazi hunter, reported that an Argentine investigator had found evidence that thousands of Nazis who fled to Argentina had kept accounts at Credit Suisse for decades, some with looted funds. The bank then opened an internal investigation.
Earlier this year, Grassley said that he had “received credible allegations of potential wrongdoing related to Credit Suisse’s internal investigation, including specifically the questionable removal of Mr. Barofsky in late 2022.”
“[T]he information we’ve obtained shows the bank established an unnecessarily rigid and narrow scope, and refused to follow new leads uncovered during the course of the review,” Grassley said in a statement.
According to the Associated Press, the forensic firm AlixPartners’ report showed that 21 Credit Suisse accounts had connections to Nazis, including multiple SS officers, on the Wiesenthal Center 2020 list. The New York Times reported that Barofsky, who was hired by the bank in February, had not found any accounts definitively linked to Nazis that were still open at the time of his firing, but he wrote that he was in November still looking into accounts not included in the 1990s report that he believed could have held Nazi money.
The bank said in a statement that the new reports confirm “existing research on Credit Suisse’s history published in the context of the 1999 Global Settlement that provided binding closure for the Swiss banks regarding all issues relating to World War II.”
The probe will continue in some form, as the Senate committee noted that the bank “committed to further investigate its apparent role in supporting Nazis fleeing from justice after WWII.”
Thousands of Nazis fled Europe to havens in Latin America after the war, most notably to countries such as Argentina and Brazil but also to others such as Paraguay, Uruguay and Peru.
Switzerland had long claimed full neutrality during World War II, but the 1990s investigations into banks and other wartime financial dealings with Nazi Germany shattered that reputation. The country’s financial system, it was revealed, had laundered gold and other stolen goods through the war and resisted pushes in its immediate aftermath to pay restitution to Jewish victims of the Nazis.
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The post Credit Suisse is limiting probe into Nazi bank accounts, US lawmakers say appeared first on Jewish Telegraphic Agency.
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A quiet diplomatic shift in the Middle East, with monumental consequences for Israel
Something significant is happening between Israel and Syria, and it deserves more attention than it is getting.
With the backing of the United States, Israeli and Syrian officials have agreed to create what they call a “joint fusion mechanism” — a permanent channel for coordination on intelligence, de-escalation, diplomacy and economic matters — during meetings in Paris. It appears to be the beginning of institutionalized contact between two countries that have formally been at war since 1948.
If this process continues, it will count as a genuine foreign-policy success for President Donald Trump’s administration.
To understand how profound that change would be, it is worth recalling the two countries’ shared history.
Israel and Syria — which the U.S. struck with a set of targeted attacks on the Islamic State on Saturday — have fought openly or by proxy for decades. Before 1967, Syrian artillery positions in the Golan Heights regularly shelled Israeli communities in the Hula Valley and around the Sea of Galilee. After Israel captured that region in 1967, the direct shelling stopped, but the conflict did not.
Syria remained formally committed to a state of war; Israel entrenched itself in the Golan Heights; both sides treated the frontier as a potential flashpoint to be managed carefully. After Egypt and Israel made peace in 1979, Syria became Israel’s most dangerous neighboring state.
A 1974 disengagement agreement created a United Nations-monitored buffer zone, which mostly ensured peace along the border, but did not resolve anything fundamental. In Lebanon, Israel and Syria backed opposing forces for years, and their air forces clashed briefly during the 1982 Lebanon War. Later, Iran’s growing role in Syria and Hezbollah’s military buildup added new threats. The Syrian civil war then destroyed basic state capacity and created precisely the kind of militia-rich environment Israel fears along its borders.
Now, with the dictator Bashar al-Assad gone and the former rebel leader Ahmed al-Sharaa in power, Syria is a broken country trying to stabilize. Sharaa’s past associations, disturbingly, include leadership of jihadist groups that were part of the wartime landscape in Syria. But today he governs a state facing economic collapse, infrastructure ruin and a population that needs jobs and basic services. His incentives are simple and powerful: ensure the survival of his regime, invite foreign investment, and secure relief from isolation and sanctions. Those goals point toward the U.S. and its partners, including Israel.
The Trump administration has made it clear that it wants to see new Syrian cooperation with Israel, with the suggestion that progress with Israel will become a gateway to international investment, and to a degree of political acceptance that Syria has lacked for years. Al-Sharaa’s willingness to engage is therefore not a mystery.
Israel’s motivations are also straightforward. After the Gaza war, Israel is facing a severe reputational problem. It is widely viewed abroad as reckless and excessively militarized. The government is under pressure over not only the conduct of the war but also the perception that it has no political strategy and relies almost exclusively on force. A diplomatic track with Syria allows Israel to present a very different picture: that of a country capable of negotiations with ideologically opposed neighbors, de-escalation, and regional cooperation.
There are significant security incentives, too.
Israel wants to limit Iran and Hezbollah’s influence in Syria. It wants a predictable northern border. It wants assurances regarding the Druze population in southern Syria — brethren to the Israeli Druze who are extremely loyal to the state, and who were outraged after a massacre of Syrian Druze followed the installation of al-Sharaa’s regime. It wants to ensure that no armed Syrian groups will tread near the Golan. A coordinated mechanism supervised by the U.S. offers a strong diplomatic way to address these issues.
The U.S. will benefit as well. The Trump team is eager to show that it can deliver lasting diplomatic achievements in the Middle East after the success of the Abraham Accords in Trump’s first term. A meaningful shift in Israel–Syria relations would be a very welcome addition, especially as the U.S.-brokered ceasefire in the Gaza war faces an uncertain future.
The main questions now are practical. Can the “joint fusion mechanism” function under pressure? What will happen when there is, almost inevitably, an incident — a drone downed, a militia clash, a cross-border strike? Will the new system effectively lower the temperature, or will it collapse at the first crisis?
Will Iran — facing its own profound internal political crisis — accept a Syria that coordinates with Israel under U.S. supervision, or will it work to undermine al-Sharaa? How will Hezbollah react if Damascus appears to move away from the axis of “resistance” and toward a security understanding with Israel?
How would an Israel-Syria deal impact Lebanon’s moribund efforts to dismantle Hezbollah’s military capacity? Al-Sharaa has already helped significantly by ending the transfer of weapons to Hezbollah from Iran through his territory. Might he also actively help with the disarming of the group?
No one should expect a full peace treaty soon. The question of possession of the Golan Heights probably remains a deal-breaker. Public opinion in Syria has been shaped by decades of official hostility to Israel, and Israeli politics is fragmented and volatile.
But diplomatic breakthroughs can confound expectations. They usually begin with mechanisms like this one, involving limited cooperation, routine contact and crisis management.
If this effort helps move the border from a zone of permanent tension to one of managed stability, that alone would be a major shift. It would also send a signal beyond the region: U.S. engagement still matters, and American pressure and incentives can still change behavior.
The post A quiet diplomatic shift in the Middle East, with monumental consequences for Israel appeared first on The Forward.
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Israel’s Netanyahu Hopes to ‘Taper’ Israel Off US Military Aid in Next Decade
Israeli Prime Minister Benjamin Netanyahu speaks to the press on Capitol Hill, Washington, DC, July 8, 2025. REUTERS/Evelyn Hockstein
Israeli Prime Minister Benjamin Netanyahu said in an interview published on Friday that he hopes to “taper off” Israeli dependence on US military aid in the next decade.
Netanyahu has said Israel should not be reliant on foreign military aid but has stopped short of declaring a firm timeline for when Israel would be fully independent from Washington.
“I want to taper off the military within the next 10 years,” Netanyahu told The Economist. Asked if that meant a tapering “down to zero,” he said: “Yes.”
Netanyahu said he told President Donald Trump during a recent visit that Israel “very deeply” appreciates “the military aid that America has given us over the years, but here too we’ve come of age and we’ve developed incredible capacities.”
In December, Netanyahu said Israel would spend 350 billion shekels ($110 billion) on developing an independent arms industry to reduce dependency on other countries.
In 2016, the US and Israeli governments signed a memorandum of understanding for the 10 years through September 2028 that provides $38 billion in military aid, $33 billion in grants to buy military equipment and $5 billion for missile defense systems.
Israeli defense exports rose 13 percent last year, with major contracts signed for Israeli defense technology including its advanced multi-layered aerial defense systems.
US Republican Senator Lindsey Graham, a staunch Israel supporter and close ally of Trump, said on X that “we need not wait ten years” to begin scaling back military aid to Israel.
“The billions in taxpayer dollars that would be saved by expediting the termination of military aid to Israel will and should be plowed back into the US military,” Graham said. “I will be presenting a proposal to Israel and the Trump administration to dramatically expedite the timetable.”
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In Rare Messages from Iran, Protesters ask West for Help, Speak of ‘Very High’ Death Toll
Protests in Tehran. Photo: Iran Photo from social media used in accordance with Clause 27a of the Copyright Law, via i24 News
i24 News – Speaking to Western media from beyond the nationwide internet blackout imposed by the Islamic regime, Iranian protesters said they needed support amid a brutal crackdown.
“We’re standing up for a revolution, but we need help. Snipers have been stationed behind the Tajrish Arg area [a neighborhood in Tehran],” said a protester in Tehran speaking to the Guardian on the condition of anonymity. He added that “We saw hundreds of bodies.”
Another activist in Tehran spoke of witnessing security forces firing live ammunition at protesters resulting in a “very high” number killed.
On Friday, TIME magazine cited a Tehran doctor speaking on condition of anonymity that just six hospitals in the capital recorded at least 217 killed protesters, “most by live ammunition.”
Speaking to Reuters on Saturday, Setare Ghorbani, a French-Iranian national living in the suburbs of Paris, said that she became ill from worry for her friends inside Iran. She read out one of her friends’ last messages before losing contact: “I saw two government agents and they grabbed people, they fought so much, and I don’t know if they died or not.”