Hey, Dickie - can I get an advance on my allowance?
UBS's general Counsel, David Aufhauser, agrees to disgorge $6.5 million in profits from illegal insider trading. Aufhauser, who presumably counseled UBS that its sales of mortgage rated securities was entirely ethical and legal (advice that cost it a whole bunch of billions of dollars in restitution earlier this year), turns out to have been trading on inside information. You may find that disturbing but rest assured; according to his bio, he's a recipient of the Treasury Department's highest honor, the "Alexander Hamilton Award". Phew! For a moment there, I was worried that we might have crooks on Wall Street.