Thursday, March 5, 2009

What Constitutes A Treasonable Offense These Days?

I couldn't help but ponder that thought as I watched the Senate hearing on the Internal Revenue Investigation of UBS

The Merriam-Webster Dictionary provides the simplest definition of treason as "a betrayal of trust".

Based on that definition, if the actions of former Senator Phil Gramm don't constitute treasonable offenses then I don't know what does.

When the former Chair of the US Senate Banking Committee and co-sponsor of the Commodity Futures Modernization Act of 2000 joined UBS in 2002 the press release announcing his appointment read, "
UBS Warburg today announced that Texas Senator Phil Gramm will join the firm as vice chairman. In this role, he will advise clients on corporate finance issues and strategy."

Of course there is no proof that the former US Senator was helping wealthy Americans avoid paying their taxes. We can only guess about the advice that Gramm was giving his clients.

Related posts:

Responses to Phil Gramm's "Mental Recession" Comment.

from the Dallas Morning News
Phil Gramm: Most Blameworthy?

from Time
25 People to Blame for the Financial Crisis

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