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 The Glass-Steagall law was repealed […]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 […]
So you thought John McCain was done with Phil Gramm? Well you were wrong: After Sen. John McCain publicly repudiated his close friend and adviser Phil Gramm’s comments about a “nation of whiners” and a “mental recession,” the two old political comrades patched up their relationship. Gramm apologized to McCain for his remarks that gave […]
Look at all these whiners lined up to get their money out of IndyMac. Don’t they know it’s all in their head, according to Phil Gramm and many Republicans?
When you complain about paying $4.00+ a gallon for gas and can’t afford health care, food, the mortgage or vacations, you are being “mental” and “whining”. That according to McCain’s economic guru, and one of the key players in this mortgage crisis (as well as husband of someone closely tied to the Enron scandal), Phil […]
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 […]