Sunday, September 18, 2011

Matt Taibbi on the ‘Rogue Trader’ banking scandal at UBS [video]

“Countdown” guest host David Shuster and Rolling Stone contributing editor Matt Taibbi discuss the “Rogue Trader” scandal at UBS. Kweku Adoboli, a 31-year-old trader for the Swiss bank, is under arrest in London on charges of losing $2 billion in unauthorized trading. Taibbi says the financial industry is too powerful in Washington right now for politicians to pass any meaningful legislation that might prevent this kind of scandal.

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