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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:
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
Estimated additional hours Americans would spend stoned annually if marijuana were legal in most states:
Researchers at Johns Hopkins University said that most alcohol-related airplane accidents happen at night and in bad weather.
A waitress in Chengdu ate a cockroach in response to a complaint by a customer who had discovered the bug in his salad. “You will always find cockroaches in the food,” she told him. “It is very normal.”
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“I hope that after reading the following pages the leaders of the Y. M. C. A. will start a campaign to induce good young men to do nothing. If so, I shall not have lived in vain.”