Why did the BUSH SEC hold back the broker rules?

[Truthmatters]

Robert Rubin - Wikipedia, the free encyclopedia




70th United States Secretary of the Treasury



In office
January 11, 1995 – July 2, 1999



President

Bill Clinton



Preceded by

Lloyd Bentsen



Succeeded by

Lawrence Summers

 

[Truthmatters]

Gramm?Leach?Bliley Act - Wikipedia, the free encyclopedia


The House passed its version of the Financial Services Act of 1999 on July 1, 1999

 

[Truthmatters]

Ruben did not vote on this.

He left because it passed likely.

blaming him is stupid

 

[Truthmatters]

Robert Rubin - Wikipedia, the free encyclopedia

 

[Truthmatters]

UBS - Wikipedia, the free encyclopedia


The Subprime mortgage crisis (2007)

See also: Subprime mortgage crisis

In early 2007, UBS became the first Wall Street firm to announce heavy losses in the subprime mortgage sector as the subprime mortgage crisis began to unfold. In May 2007, UBS announced the closure of its Dillon Read Capital Management division. Before that time, there was little understanding of the troubles at DRCM or the massive expansion of risk engineered by the investment banking division under the leadership of the newly placed CEO Huw Jenkins.[110]

 

[Rat in the Hat]

UBS - Wikipedia, the free encyclopedia

CBS - Wikipedia, the free encyclopedia

 

[Truthmatters]

https://sites.google.com/site/cozyrelationships/home/ubs/ubs-phil-gramm



February 20, 2009











UBS, the IRS and Phil Gramm


News that the Justice Department has filed a lawsuit against Swiss banking giant UBS is just the latest chapter in the curious case of Phil Gramm. Just one day after UBS agreed to pay a $780 million criminal fine and admitted to conspiring to defraud the IRS, the DOJ demanded access to 52,000 accounts as part of its broad tax evasion probe. Which is more than just a little ironic. After all, before he became a UBS vice-chairman in 2002, then Senator Phil Gramm helped lead the 1990's Republican war to gut the Internal Revenue Service.
Gramm's fingerprints, of course, have been all over the financial meltdown and steep downturn gripping the U.S. economy over the past year. In his role as an adviser to John McCain's presidential campaign, Gramm famously decried the "mental recession" and mocked the United States as a "nation of whiners." And the Texas Senator's machinations in the Senate to create the 1999 Gramm-Leach-Bliley Act which helped lead to catastrophic losses at UBS in subprime mortgages during his tenure there.

But it was Gramm's role over 10 years ago in decapitating the IRS' ability to enforce tax laws against wealthiest Americans may well have UBS's schemes possible.

 

[TNHarley]

SOS vote on laws? LOL
Rubin pushed for it, TM
HE WANTED IT

 

[TNHarley]

Rats awesome lol

 

[Truthmatters]

what part of the Broker rules protections NOT being allowed to be implemented cant you get through your brain case?

 

[Truthmatters]

Go get a QUOTE from ruben in it

 

[saveliberty]

Ruben did not vote on this.

He left because it passed likely.

blaming him is stupid

Yet Gramm leaves and it total scandal. Hypocrite.