At the height of the financial crisis, The Guardian identified 25 bankers, economists, politicians and financial officials who helped bring about the worst economic crisis since the Great Depression. What are they up to now?
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.Was Phil Gramm truly unaware of the widespread efforts at UBS to defraud the U.S. Treasury?
Bernie Sanders, the senator from Vermont who is independent in spirit as well as party label, has placed a hold on President Obama’s nomination of Gary Gensler to head the Commodity Futures Trading Commission. Sounds like a minor issue to get worked up about, but I see this appointment as further evidence that the president has entrusted his economic policy to the wrong people.