McCain guru linked to Subprime Crisis.

[chimper]

http://www.politico.com/news/stories/0308/9246.html

[acmavm]

1. For those like me who get peeved when someone doesn't provide a

snippet so that you can see if it's worth the effort:



The general co-chairman of John McCain’s presidential campaign, former Sen. Phil Gramm (R-Texas), led the charge in 1999 to repeal a Depression-era banking regulation law that Democrat Barack Obama claimed on Thursday contributed significantly to today’s economic turmoil.

“A regulatory structure set up for banks in the 1930s needed to change because the nature of business had changed,” the Illinois senator running for president said in a New York economic speech. “But by the time was repealed in 1999, the $300 million lobbying effort that drove deregulation was more about facilitating mergers than creating an efficient regulatory framework.”

Gramm’s role in the swift and dramatic recent restructuring of the nation’s investment houses and practices didn’t stop there.

A year after the Gramm-Leach-Bliley Act repealed the old regulations, Swiss Bank UBS gobbled up brokerage house Paine Weber. Two years later, Gramm settled in as a vice chairman of UBS’s new investment banking arm.

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In this case its worth the trouble.

[midnight]

2. Now this is important information that one of our presidential

candidates has so wisely been able to use to help American voters get a glipse of what the Replicans have been doing. "The general co-chairman of John McCain’s presidential campaign, former Sen. Phil Gramm (R-Texas), led the charge in 1999 to repeal a Depression-era banking regulation law that Democrat Barack Obama claimed on Thursday contributed significantly to today’s economic turmoil." Good information.

[chimper]

3. I think a link is quite easy to click . . .

No snippy snippets for you !