It’s bad. And it doesn’t look like it’s about to get better anytime soon. A U.S. dragnet on the monster Swiss bank is now expected to tighten its noose, issuing a sweeping subpoena for the names of wealthy American clients who might have asked it to help them sidestep income taxes, according to today’s Wall Street Journal. “This appears to be the IRS's effort to pursue UBS in what most likely will become a larger case,” says the partner of former UBS private banker Bradley Birkenfeld. “Bradley was not the first or only private banker of UBS to be called in on this issue. Most assuredly, he will not be the last." The latest on the latest.

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