Phil Gramm, UBS & 2 Billion

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This isn't a theory, this is speculation and where I think investigators should look. It is like Thom's GOP Iran theory which is based on known facts and a pattern of past behavior.

In September 2011, UBS suffered a $2 Billion loss because of a “rogue trader”. When I first heard the news I immediately thought of Phil Gramm and from the comments in news stories it look like I wasn't the only one. But, I am going to take it one step further. Most of the comments pointed to the coincidence that Phil Gramm worked at UBS. I think this potentially could be a well orchestrated fraud.

Phil Gramm is on everybody's blame list for the economic collapse. He is responsible for heading the repeal of Glass-Steagall (Gramm-Leach-Bliley Act) and the deregulation of commodities (The Commodity Futures Modernization Act of 2000). In the CFMA he created the “Enron Loophole” for his wife Wendy who was on the board of Enron. We all know how that worked out.

When somebody loses on trade there is potential winner. It is a well known practice to bet against somebody else's position. Just ask Goldman Sachs! It wouldn't shock me if Phil Gramm personally gained from the 2 Billion loss. It would be like the art of a pick pocket. You create a distraction with one hand while you grab the cash with the other. Everybody is so shocked by the loss that they do not even think of looking for the potential gain. It would be interesting to see who or if anybody gained from the UBS loss.

Now we hear that JP Morgan Chase lost 2 billion from a failed hedging strategy. Both of these instances could be due to incompetence, but I wouldn't put anything past these banksters.

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spicoli
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Get. Money. Out.

Last week, the United States Senate actually considered a constitutional amendment on campaign finance. Last Monday, the Senate advanced Tom Udall's proposed amendment, which would allow Congress to regulate money in politics. Seventy-nine senators voted to allow debate on the measure.

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