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> In his last years in the Senate, Gramm succeeded in blocking legislation that, in the words of The New York Times, would have made it easier “to crack down on offshore tax havens” and “would have expanded rules that require banks to find out more about individuals and foreign jurisdictions they are dealing with.” The Times noted, “The legislation won bipartisan support but was blocked by Senator Gramm of Texas, a foe of government regulation.”
> Gramm subsequently took up a senior position at UBS, stating: “It will provide me with an opportunity to practice what I’ve always preached..… I have a strange combination of experiences that a lot of people don’t have .… knowledge of economics, a knowledge of government policy.” Given that knowledge, it is reasonable to ask just how Gramm could have been unaware of the extensive efforts of his new employer, UBS, to thwart the American tax authorities.
More from Ken Silverstein:
Years of consideration preceding the inclusion of the word “phat” in Random House’s 1996 Compact Unabridged Dictionary:
Scientists created crash helmets that stink when cracked and fruit flies to whom blue light smells delicious.
In Belize, a construction company bulldozed a 2,300-year-old Mayan temple to make road fill.
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