Phil Gramm is McCain’s chief economic adviser and was one of the chief architects of the deregulation of the banking industry that helped get us into the mortgage crisis. Now George Bush is proposing sweeping new regulations of the banking industry to help prevent more problems. This appears to go strongly against Gramm’s beliefs, as well as the neo-con belief of “smaller government” over all. It is going to be interesting to see how the neo-cons respond to this new proposal.