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by John W. Dean
By Lawrence Weschler
$35
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AP/Michael S. Green
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By Robert Scheer — Where are Phil and Wendy Gramm hiding now that UBS, like Enron before it, has been nailed by the G-men?
Posted on Dec 21, 2012
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Flickr / twicepix (CC-BY-SA)
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Swiss banking giant UBS said Thursday that a rogue trader had cost it approximately $2 billion in unauthorized trades. (more)
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Background: Suburbanbloke (CC-BY-SA)
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By Amy Goodman — A landmark class action case is under way in a New York federal court, with victims of apartheid in South Africa suing corporations that they say helped the pre-1994 regime.
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By Amy Goodman — It looked like it was business as usual for President Barack Obama on the first day of his vacation, as he spent five hours golfing with a top executive from UBS, a bank that sheltered wealthy tax dodgers while hardworking U.S. taxpayers were bailing it out.
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bloomberg.com
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Swiss bank accounts aren’t what they used to be. Switzerland recently agreed to fork over information on 4,450 UBS AG bank accounts to the IRS as an investigation into suspected tax evasion threatens the good name that Swiss banking has provided to money launderers and tax evaders for centuries.
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AP / Dean Cox
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By Robert Scheer — 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.
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reedernichols.wordpress.com
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By Robert Scheer — One wonders if Phil Gramm has been made just a tad nervous by the news on Tuesday that one of UBS’ super-wealthy private clients has pleaded guilty to tax evasion.
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AP photo / Kevork Djansezian
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By Robert Scheer — McCain campaign co-chair Phil Gramm is right: We have “become a nation of whiners.” But who is whining more than the bankers that former Sen. Gramm’s financial deregulation legislation benefited? The very bankers who now expect a government bailout, such as those at UBS Investment Bank, where Gramm found lucrative employment.
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Truthdigger of the Week: Sen. Angus King
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