Wednesday, January 22, 2014  Phil Gramm's UBS Dirty Laundry
Machine: Servicing China's OffShore Corruption  Deutsche-Welles,
a German news outlet available over PBS was highly illuminating
tonight. Apparently many top toffs in China have acquired
offshore Caribbean numbered accounts as tax shelters. I
chuckled, thinking, "Never let it be said that bad habits can't
be copied".  But I stopped smiling when the next sentence
revealed that these bad actors' actions are being directly
mediated by American-influenced UBS and another  bank or two.
Once again Phil Gramm demonstrates there isn't a pot of slime
he's unwilling to lick from. He has enjoyed a high position with
UBS since about 2002, after spending several terms in the U.S.
Senate; in ~1999 he convinced others and another Southerner,
President Clinton, to eviscerate the Glass-Steagall Banking
Act(s), passed in 1933 and 1934 . These acts kept the banks from
irresponsible expropriating and speculating with  depositors'
funds; recessions in the intervening 60