Homeland adviser mum on ex-employer's financial terror links

[cal04]

Newsday Exclusive

Chairman did not notify Bush, Ridge about investigation
The chairman of the nation's Homeland Security Advisory Council was helping to guide America's security strategy at the same time he was a top executive with an international banking firm that was investigated and eventually fined more than $100 million for cash transfers to rogue nations, including Iraq, Iran, Libya and Cuba, a Newsday investigation has found.

Joseph Grano Jr., 56, said he did not inform Bush administration officials, including Secretary of Homeland Security Tom Ridge, about the problems of Swiss banking giant UBS, where he worked until June, because he said it "is public record" and he wasn't required to do so.

He denied any wrongdoing and said he was unaware of the accusations against UBS until the Federal Reserve's May announcement of one of its largest fines ever -- for the bank's improper money transfers to "rogue" nations under U.S. economic sanctions and its "deception" in trying to cover it up.

Grano said he assumed Ridge and the administration already knew about the federal investigation of UBS, where Grano worked as one of the bank's senior-most executives after its $11 million merger with his old firm PaineWebber in January 2001. He simultaneously served on the advisory council and as an executive at UBS for two years.



http://www.newsday.com/news/nationworld/nation/ny-engran15,0,2569046,print.story?coll=ny-top-span-headlines

[Eye and Monkey]

1. "That's how I got this job - by being a known, high-end crook."

Would that he just come right out and say it.

[The Magistrate]

5. Indeed, Sir

This is just too damned rich by half. Having helped finance these fellows, at least he ought to be good at tracing the money, eh...?

"The mind wobbles...."

"LET'S GO GET THOSE BUSH BASTARDS!"

[Eloriel]

6. Exactly my thought: Of COURSE they knew. n/t

[movonne]

2. Well, well, well what is this all about.!!!!!

[harpo]

3. Kerry can use this and POUND him with it like a nail

[Rose Siding]

9. In less than 3 weeks?

The candidate can't introduce anything new at this point that isn't carved in stone and can't be covered in a twenty second soundbyte. Anything can be a trap.

[starroute]

4. UBS had connections with Nugen Hand and BCCI

That's the Union Bank of Switzerland (or Union de Banques Suisses if you want to get all fancy-pants about it ;) ) and it's got a looong history of questionable associations.

The 1987 stock offering of Harken Energy was placed with a London subsidiary of UBS. At that time, UBS held the minority interest in the Banque de Commerce et de Placements, which was a subsidiary of BCCI. The actual payment came from both those banks. This is one of several BCCI-related deals that suddenly clustered around Harken after Bush joined it.

Al Martin (who may or may not be reliable -- no one seems to know for sure) claims there was securites fraud involved in the deal. Whether that's true or not, UBS's improprieties have been public knowledge for many years. (Just ask John Kerry -- I'm sure he could tell you. :) )

[jukes]

7. is there an honest person

in this whole stinking administration?

[UpInArms]

10. well,

no.

[Rose Siding]

8. He gets briefed on intelligence and NO ONE vetted him?!

As long as we're still at YELLOW on the terrorism COLOR WHEEL.

BUSH league.