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.
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.