In terms of the Holocaust issue, I believe that there can be a way to create a WIN/WIN situation in terms of the assets to the Holocaust victims, and the Swiss Banks.  I also believe that the Victims, and their heirs for generations to come can receive benefits that exceed what can be identified to be owed.

I am aware that Swiss Banks were approached by entities wanting to put these claimed assets into their respective funds. Consider taking a different approach to this, and how this could possibly be realized without becoming a costly and non-ending effort to achieve.

I- What is Proposed:

I  am proposing that the Swiss Banks set up a trust fund and that the recipients be the major representative Jewish organizations world wide. The responsibility of managing the performance for this fund, and the assets to be applied are the Banks, and the distribution of the interests would be the responsibility of the organizations. In essence, the Banks would be working for these Organizations while doubling their networth by doing so.

The reasons I feel this could work are the following:

1. The establishment of the trust fund circumvents many of the obstacles and constraints presented by both the banks, and these organizations.
 
2. It allows both the banks, and the organizations to vindicate their own  positions without the cost of the other losing face.
 
3. The opposing parties begin to work together achieving a mutual benefit.
 
4. Prevents the Holocaust assets from simply stagnating and over time has the potential of doubling its value for the generations of beneficiaries to come.
 
5. It puts in place orderly directives for both parties. The organizations can be effective in taking care of a society, while the banks, do what they do best, which is to make money.
 
6. The banks overall incentives would include becoming a world leader in the financial industry by setting up the most important trust fund of the century; that is within the last two years of this century.
 
7. For the organizations, and the people that they represent, that resolve is seen within the lifetime of the surviving  Holocaust victims; and that these organizations have shown an effectiveness to whom they represent.
 
8. For both parties a New Century of Partnership,  similar to the United States,  and its relationship with Japan could be established. Once Japan bombed Pearl Harbor, and once the United States used nuclear weapons on Japan, and between these two points hundreds of thousands lost their lives. Now the U.S. and Japan are partners in terms of the World Economy.
 

II- How it is to be Accomplished:

This of course would be a complex undertaking, but I believe could be realized  sooner than current strategies to acquire what is considered due. Some of the initial hurdles that could be foreseen are:

A. Coming to an agreement of what is due:

Regardless if there is even a magnitude of difference in the amount,  if both
sides were to meet in the middle, a value could be agreed upon which enables a
starting point.  Consider that at what ever is agreed upon, that over time,
the return on the Trust Fund would exceed what is believed to be owed.

B. Setting up different Return Schedules and payout periods.

Because of crucial, and also long term needs for the return of these assets, the
different payout periods could be established,  based on different components of
the Trust Fund. Hence - immediate needs can be met for recipients of the Funds,
while long term investment returns address future generations needs.

C. Loans Applied Toward the Trust Fund.

This would enable those in need to get an immediate inflow of benefit with
guaranteed loans, that are based on a trust fund whose performance is to be
Guaranteed by the performance for the Bank over all.
 

III - How is it to be Managed - Establishment Of An Independent Monitoring Body:
 
To assure that this could be accomplished, and that results are achieved would
require an independent body, say made up of members from different Governments.
To start with consider Israel, Switzerland, and perhaps the United States. This
independent body would have at a minimum the responsibility of:

1- Compliance support by World Governments:

It is necessary that this monitoring body being ultimately composed of members
from different Governments, that the Governments in question enforce the findings,
rules, and agreements of the monitoring body.

2- To Determine the Representative Organizations:

What Organizations which can adequately claim fair representation of the claims,
would have to be determined, while these organizations in of themselves would
have to establish their own capability for longevity. In short, it might be
better to have a synthesis of such organizations to be the recipient such that
a claim from a citizen from one country is represented by the component of the
assigned organization from that specific country.

3- Become the independent counseling body:

Any agreements, and disagreements would be managed through this independent body.
They would be responsible for - Settling the terms of the amounts due. That is
once agreed, this agreement would be final.
 
4- The Establishment of Reciprocity and Accountability:

Clear definitions of responsibilities and accountabilities must be put in
place to ensure the compliance of both parties ( the banks, and assigned
Organizations ). Both have strong incentives to come to terms in an
agreement, and this will assure each of the others commitment.

5- Regulatory and Tax Issues:

To determine what is Tax based, or construed as earned Income if at all, and
from what Countries' tax standards, while accounting for the fact also that
these are assets which were originally the property of the claimants.

6- Audit and Compliance:

From the Standpoint of audit and compliance, these would focus on both parties.
The bank(s) in question would have to be observed in terms of their performance
with the trust fund; and the Representative organization(s) to be monitored
for fair distribution practices to the beneficiaries such that claims can be
reviewed, awarded and without limits on such review practices for claimants
with limited proof of rightful claim.

7- Ceilings on Third Party Legal Fees: