Posts Tagged ‘IRS’

“Scandalous”

This article has been published on The Huffington Post. To view it at Huff Post click on the link.

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Everyone loves a good political scandal!

There are three scandals in Washington — at the same time — any one of which Republicans believe could bring down the Obama Administration!

Political scandals can fill the news cycle for hours on end. Juicy new details can keep it in the media for days. Fictional facts can drag it out for weeks.

A minor problem, a lapse in judgement, a mistake that can be easily fixed is not exciting. A party filibustering everything introduced by the President isn’t, unfortunately, interesting.

But a Scandal?

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Posted in Congress, HuffPost Articles, Politics, Republicans | Comments Off

“Phil Gramm @ the Vortex!”

As the economic meltdown threatened the world economy, one name kept boiling to the surface. Ex-Senator Phil Gramm.

A growing controversy and crisis—the U.S. government’s negotiations with Swiss bank UBS and the Swiss government over the release of account information on Americans suspected of evading tax regulations—finds the ubiquitous Gramm involved in the seemingly nefarious activities.

This ex-Senator has been at the center of every financial crisis since 1999. Gramm was the author of the Gramm/Leach/Bliley Bill passed in November of ’99, abetted by Congress and President Bill Clinton.

That bill, along with the “Commodity Futures Modernization Act,” passed in 2000, have put the entire global economy at risk. Enron and WorldCom were manifestations of the Commodities Act, and the Banking Crisis was the result of the Gramm/Leach/Bliley Bill.

Gramm is now involved in the middle of the battle between UBS and the IRS  as the Vice Chairman of UBS’ investment banking. He is now either exceptionally naive or complicit in the scheme perpetrated by UBS employees to defraud the U.S. Government of taxes from American citizens.

Gramm’s 20 year push as a U.S. Senator to deregulate the financial and commodities markets has allowed energy companies and financial services groups to steal from the American people.

I wrote about Gramm’s duplicity in the financial crisis in September of last year in an article entitled: “Thank You Milton, Alan, and Phil,” which you might enjoy reading and could put the financial crisis in a little better perspective.

In his new role at UBS, it appears that Phil Gramm is again involved in stealing from American taxpayers. More will be written as the story unfolds.

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Posted in Banking, Economy, Uncategorized | Comments Off