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A reader e-mailed with an interesting question:
Former Senator Phil Gramm is a senior executive with Swiss banking giant UBS. According to the information filed Wednesday in the criminal case against UBS, some UBS executives are being treated as unindicted co-conspirators. “These executives occupied positions at the highest levels of management within UBS, including positions on committees that oversaw legal, compliance, tax, risk and regulatory issues related to the United States cross-border business.”
So the question is: Did Phil Gramm serve on any of these UBS committees?
If you were a company that had hired the former chairman of the Senate Banking Committee that designed the regulatory system under which your company operates, wouldn’t if be a breach of your fiduciary obligation to your shareholders NOT to have him on the legal, compliance and regulatory committees?
More from Ken Silverstein:
Perspective — October 23, 2013, 8:00 am
How pro-oil Louisiana politicians have shaped American environmental policy
Postcard — October 16, 2013, 8:00 am
A trip to one of the properties at issue in Louisiana’s oil-pollution lawsuits
Fleming awoke in the dark and his room felt loose, sloshing so badly he gripped the bed. From his window there was nothing but a hallway, and if he craned his neck, a blown lightbulb swung into view. The room pitched up and down and for a moment he thought he might be sick. The word “hallway” must have a nautical name. Why didn’t they supply a glossary for this cruise? Probably they had, in the welcome packet he’d failed to read. A glossary. A history of the boat, which would be referred to as a ship. Sunny biographies of the captain and crew, who had always dreamed of this life. Lobotomized histories of the islands they’d visit. Who else had sailed this way. Famous suckwads from the past, slicing through this very water on wooden longships.
A welcome packet, the literary genre most likely to succeed in the new millennium. Why not read about a community you don’t belong to, that doesn’t actually exist, a captain and crew who are, in reality, if that isn’t too much of a downer on your vacation, as indifferent to one another as any set of co-employees at an office or bank? Read doctored personal statements from underpaid crew members — because ocean life pays better than money! — who hate their lives but have been forced to buy into the mythology of working on a boat, separated now from loved ones and friends, growing lonelier by the second, even while they wait on you and follow your every order.
Rank of Detroit among major U.S. cities whose residents give the largest portion of their income to charity:
A South Dakota researcher concluded that only scant blood spatter results when chain saws are used to dismember pigs.
Four people were arrested for using a remote-controlled hexacopter to fly two pounds of tobacco to prisoners inside the yard at Calhoun State Prison in Georgia.
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Our congratulations to Alice Munro, winner of the 2013 Nobel Prize for Literature