Robert Scheer: Ubs Scandal May Ensnare Phil Gramm
San Gabriel Valley Tribune › August 24, 2009
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Summary
IN recent days, yet another wealthy private customer of the Swiss- based banking conglomerate UBS admitted to criminal fraud in a growing parade of perp walks that could extend into the thousands.
It is a case that threatens to ensnare former Sen. Phil Gramm, the Texas Republican who is vice chairman of UBS' investment banking business. Given the widespread involvement of UBS in what the Justice Department alleges were systematic efforts to violate U.S. tax laws, it must be asked: Did Gramm as a top executive have no inkling about what was going on?See the full content of this document
Extract
Robert Scheer: Ubs Scandal May Ensnare Phil Gramm
Perhaps, but for Gramm this has to be a moment that at the very least tests his ideological commitment to the radical deregulation of banking that he championed during his 24 years in Congress. He joined UBS soon...
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