Where is Phil Gramm hiding? The former Republican senator from Texas has not been heard from since his bank got nailed by the G-men. Or, as the Times put it, UBS now has the distinction of being "the first big global bank in more than two decades to have a subsidiary plead guilty to fraud."
In the past 24 hours, Dodd appears to have been going to bat for Wall Street, not out of concern for any greater political good, but exclusively for the purpose of padding the profits of big banks.
The "nation of whiners" comment during the campaign was a sideshow compared with the serious charges now swirling around UBS, charges that may finally prove to be Phil Gramm's undoing.