Bumped again by Carol. Originally posted 2008-07-19 17:09:07 -0500; Originally promoted. -- GH

Stephen D reports on a Phil Gramm Friday night dump attributing Gramm's resignation from the McSame campaign to the "Americans are whiners!" comment. I think that is just cover for the more likely real reason:

UBS, LGT Helped Hide Assets, Evade Taxes, Senate Says

By David Voreacos and Carlyn Kolker

July 17 (Bloomberg) -- UBS AG and Liechtenstein bank LGT Group aided rich U.S. clients who wanted to disguise ownership of accounts and evade taxes on hidden assets, a Senate subcommittee said.

UBS, the world's largest wealth manager, hid as much as $17.9 billion for 19,000 Americans who didn't declare assets to the Internal Revenue Service, the Senate Permanent Subcommittee on Investigations said in a report released in Washington late yesterday. LGT, owned by Liechtenstein's ruling family, fostered a ``culture of secrecy and deception'' while assigning code names to U.S. clients, the panel said.

Remember that Phil Gram works for and lobbies for one arm of UBS in the USA. More below...