UBS, Switzerland's largest bank, will hand over to the IRS at least 4,450 names of Americans suspected of hiding money in secret accounts that at one time contained $18 billion.

Among the collateral damage: Writers will now have to add an asterisk to the phrase "as secret as a Swiss bank account."

UBS got off easy, and so did thousands more rich Americans: The U.S. government had demanded that UBS identify the holders of 52,000 accounts. As part of the deal finalized today, the U.S. is dropping its lawsuit against the bank, and the bank won't get fined.

Be sure to read the backgrounder on Bradley Birkenfeld, the American employee of UBS who blew the whistle. Not that he's a hero, because he was one of the schemers and has pled guilty, but he stands to possibly rake in money for snitching. Birkenfeld is probably no longer welcome in Switzerland.