Posted on 01/24/2010 9:43:02 AM PST by Steelfish
JANUARY 23, 2010 Obama's Lead Blocker on Wall Street UBS Executive Advises President on Economic Issues Even as Feud Between White House, Finance Industry Heats Up
By NEIL KING JR.
President Barack Obama's long feud with Wall Street is getting only hotter. He is pushing a regulatory revamp that would rein in the size and power of the big banks, after jabbing at "fat cat bankers" and denouncing Wall Street greed.
But Mr. Obama has at least one buddy in the banking business: a former University of Pennsylvania fullback and ex-Salomon Brothers bond trader who now serves as an outside White House adviser.
"People joke that 50% of those who like Obama don't like Wall Street, and vice versa, so it's a good thing I have family and friends," says Robert Wolf, chief executive of UBS Group Americas, the U.S. arm of one of Switzerland's largest banks, UBS AG. Mr. Wolf oversees the bank's U.S. operations, working with clients and dealing with regulators.
Robert Wolf, [Pic in URL] chief executive of UBS Group Americas, first met then-Sen. Obama at the office of George Soros.
Mr. Wolf has visited the White House nearly 20 times since Mr. Obama moved in last January. Mr. Wolf lunched alone with the president in June. He joined him July 4th to watch the national fireworks from the White House lawn. They golfed together on Martha's Vineyard in August.
Making the relationship all the more unusual is that Mr. Wolf works for a foreign bank that agreed last year to pay the U.S. government $780 million to settle accusations that it had helped defraud the Internal Revenue Service. The Justice Department alleged that UBS helped 52,000 wealthy Americans hide billions of dollars in assets to avoid U.S. income taxes.
(Excerpt) Read more at online.wsj.com ...
Under RICO, a person who is a member of an enterprise that has committed any two of 35 crimes—27 federal crimes and 8 state crimes—within a 10-year period can be charged with racketeering. Those found guilty of racketeering can be fined up to $250,000 and/or sentenced to 20 years in prison per racketeering count. In addition, the racketeer must forfeit all ill-gotten gains and interest in any business gained through a pattern of “racketeering activity.” RICO also permits a private individual harmed by the actions of such an enterprise to file a civil suit; if successful, the individual can collect treble damages.
I think we should go after anyone who fits this description..
Rico would apply to the DNC then
then lets get them..
I’ve been screaming RICO for some time now for most of these criminals in this administration. Nice to see it again, hope it grows some legs and we can get the ball rolling
You can bet that banks and bankers who contribute to Obama will get a break when it comes to executive bonus taxation.
Soros, Goldman Sachs, and some others will get very favorable breaks on any legislation....although I must add that Soros, Sachs, and the others also have big ties to the GOP as well
CONTACT INFO: Robert Wolf Chairman & CEO UBS Group Americas robert.wolf@ubs.com ...
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