Thursday, September 18, 2008


This particular weasel is a crook named PHIL GRAMM. He was the one who did the most to push through the disastrous deregulation of the financial industry in 1999 and 2000. (He was also involved in the 80s S & L scandal and later the Enron swindle.) Check it out here. Excerpt: 

Gramm is responsible for the rise of the wild and woolly $62 trillion swaps market. And he was chairman of the McCain campaign and a top economic adviser for McCain--until he dismissed Americans worried about the economy as "whiners." After that comment, McCain dumped Gramm. But was Gramm truly excommunicated from McCain land? Last month, he attended a meeting of McCain's top supporters in Aspen, Colorado. And at a dinner that day, McCain singled out Gramm for praise. Last week, failed Republican presidential candidate Ron Paul revealed that Gramm, now an exec for Swiss banking giant UBS (which also lost billions of dollars due to subprime loans and swaps), had recently called him as part of a McCain effort to win Paul's endorsement. Paul turned Gramm down. (Both Gramm and Paul are Texas Republicans.) Gramm's Paul-courting effort seems to indicate that the fellow who has done much to cause the current financial troubles (and who was once considered a possible Treasury secretary should McCain win the White House) is back in the good graces of the McCain campaign.

Shortly after McCain promised he would "clean up" Wall Street, Alaska Governor Sarah Palin, his running mate, appeared at a Colorado rally on Monday morning and proclaimed that "John McCain and I will put an end to the abuses in Washington and Wall Street that have resulted in this financial crisis." She promised a McCain administration would "reform the way Wall Street does business." (She was short on details and spent more time discussing Colorado sports stars from Alaska.) What neither she nor McCain has explained is how they plan to be able to reform Wall Street when they are being assisted by 177 lobbyists and the guy who greased the way to the current crisis with a backroom legislative maneuver. If McCain and Palin are serious about never putting America "in this position again," they ought to consider seriously writing down any economic advice they get from Phil Gramm

McCain and Caribou Barbie? Serious about helping ordinary people? That's a joke, right?

BTW, here is more about this amoral, unprincipled BFF of all white collar criminals, Phil Gramm.

1 comment:

~ Marie ~ said...

Great post!

Sad times for all those who have worked hard and saved to once again take the hit. What's wrong with this picture?