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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
Percentage of Britons who cannot name the city that provides the setting for the musical Chicago:
An Australian entrepreneur was selling oysters raised in tanks laced with Viagra.
A naked man believed to be under the influence of LSD rammed his pickup truck into two police cars.
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“Shelby is waiting for something. He himself does not know what it is. When it comes he will either go back into the world from which he came, or sink out of sight in the morass of alcoholism or despair that has engulfed other vagrants.”