FT: UBS tells unit staff to avoid US visits. "The Swiss bank has also made lawyers available to the more than 50 bankers involved, many of whom have left UBS since it decided last November to wind down its cross-border private banking business for US ­customers. The move follows the recent indictment of one of the unit’s former senior executives, Bradley Birkenfeld, who US authorities have accused of helping a billionaire client evade taxes." Hilzoy/TPM: McCain economics advisor and national campaign co-chair Phil Gramm vice chairman of UBS and its former lobbyist.

A colleague further notes, "Gramm and McCain have always been close. When Gramm ran for president, McCain leaned on his buddy, Fife Symington, the gov. of Arizona (who also later resigned after he was indicted for corruption) to push the GOP legislature to move the state primary date up three months just to give Gramm (as they imagined, but wrongly) an advantage. Three million bucks for a personal favor for Phil Gramm. Even rank and file Republicans were disgusted, and showed it at the polls."

Posted by Laura at May 28, 2008 07:08 AM