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Mr. Grubman, whose resignation from Citigroup's Salomon Smith Barney unit was announced on Thursday, was the maître d' to the late 90's telecom party.
But what about the families across America whose retirement or college-fund portfolios have been devastated by staying too long at the telecom party at Mr. Grubman's urging?
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The Swiss have implemented an innovative programme that requires their dominant telecom company to deploy multiple strands of fibre – one for their own services, the others to be sold to third-party competitors.
Other plans for the funding include "redoubling our marketing efforts, evaluating new channels to reach the broad base we need, and investing in the infrastructure and costs (telecoms, third party apps) we need to get those ideas to improve the user experience rolling".
The 15 EU states party to the case,, which also relates to a dispute involving a Swedish telecoms company, are defending the principle of the mass retention of data.
"It's a telecoms company.
There's still a lot at stake for all parties: telecom companies, Web giants and Internet consumers alike.
So I see this decade as the decade where third-parties, telecoms operators, device manufacturers, tech start-ups and others start to take ownership of bank customers, and banks are simply left processing the back-end transactions and product manufacturing.
Only here, the big shift proposed would be to have a "private party" like a telecom hold the data, not NSA.
Some of its proposals are uncontroversial: during his press conference on Friday, President Obama appeared to endorse the report's recommendation that telecom companies, or a third party, store metadata, saying, "There are other ways to skin the cat".
Jeremy Hunt, the Conservative shadow culture secretary, has said his party would encourage telecoms companies to take the lead in the rollout of superfast broadcast services to major cities, before moving on to rural areas.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com