Peter Orszag will become the first member of President Obama’s cabinet to leave: White House budget director Peter Orszag plans to leave government in July, becoming the first member of President Barack Obama’s Cabinet to depart, administration officials said Monday. Orszag is likely to join a think tank, colleagues said. Presidential advisers say a possible successor as director […]
Call the Pope because hell is freezing over: Senators John McCain and Maria Cantwell are joining forces to reinstate the Depression-era Glass-Steagal [sic] Act of 1933, which separated commercial banking from Wall Street investment banking. According to Newsweek, the two plan to announce the bipartisan McCain-Cantwell bill on Wednesday morning. The Glass-Steagall law was repealed […]
The employer of Phil Gramm, the very man who championed to get rid of banking regulations and served as an economic adviser to the McCain Campaign, has been busted: UBS AG, Switzerland’s largest bank, will pay $780 million to avoid U.S. prosecution and settle regulatory claims that it helped thousands of wealthy Americans use Swiss […]
This is getting really old: A brother of New York Sen. Hillary Clinton and local Democrats who backed her unsuccessful presidential campaign socialized privately Monday with a top surrogate of the presumptive Republican presidential nominee, Arizona Sen. John McCain. The private gathering featured Carly Fiorina, Mr. McCain’s top economic adviser, and took place at the […]
Here is his own 3am ad: Pretty interesting coming from a man who’s top economic adviser is considered one of the key culprits in the entire subprime mess. Speaking of Phil Gramm, let’s look at his employer: The spiraling crisis in the credit and housing markets has kept Gramm in focus, fairly or not. His […]
The Politico is just now getting the story out of McCain economic adviser Phil Gramm, and his ties to the subprime mess we are in today. I reported about this on Monday. All the same, I am glad to see the story get some traction now. People need to know that the man behind McCain’s […]
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 […]
First the wrong: On the Democratic side, it’s somewhat disappointing that Barack Obama, whose campaign has understandably made a point of contrasting his early opposition to the Iraq war with Hillary Clinton’s initial support, has tried to score a twofer by suggesting that the war, in addition to all its other costs, is responsible for […]