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The Real Reason For McCain's Friday Night Phil Gramm Dump | 15 comments (15 topical, editorial, 0 hidden)

Re: The Real Reason For McCain's Friday Night Phil (4.00 / 2)

you may be on to something here...

but it depends on the meaning of resign Gramm remains in the background as an advisor. But coupled with the UBS naughty naughty, there's the deep in the poop sub-prime debacle.

The Carpetbagger Report

Is Gramm gone, or is he only kinda sorta gone?
Yesterday, the McCain campaign disputed part of Novak's report, saying that Gramm would no longer be a surrogate. But the report also said Gramm would advice McCain on economic matters, and on this, the campaign said nothing.
Gramm's decision comes after word that, in his weekend column, Robert Novak was to report that the Gramm and McCain had talked subsequent to the ill-time remarks and that he'd stay on as a surrogate and adviser.
But McCain spokesman Tucker Bounds said earlier today that Gramm would no longer represent the campaign.
Gramm's move tonight appears to be a move to clarify his status. But when asked whether this meant he'd no longer advise or represent McCain, Bounds only said that it was Gramm's decision to step down from his co-chair post.
So, it's just another round of double-talk from McCain. First the campaign agrees with Gramm, then it doesn't. Gramm is a surrogate, then he isn't, then he is, then he isn't. Gramm is an advisor, then he isn't, then he might be.
I can understand the campaign's embarrassment, but this is ridiculous. Gramm not only thinks we're a "nation of whiners," he's also, more importantly, the man whose financial deregulation efforts made the market meltdown possible.

Well, "You can't vote for war and disown the results"

by idredit on Sat Jul 19th, 2008 at 06:12:10 PM EST

Re: The Real Reason For McCain's Friday Night Phil (none / 0)

Thanks for adding that... I am editing on the run here and was about to look for that story.

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by Connecticut Man1 (connecticutman1 AT gmail DOT com) on Sat Jul 19th, 2008 at 06:15:46 PM EST
[ Parent ]

Re: The Real Reason For McCain's Friday Night Phil (none / 0)

You have to remember that his deregulation also made it easier for UBS to enter into all kinds of schemes that helped along their offering these illegal tax havens.

The deregulation is much bigger than just mortgages when you look at Gramm.

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by Connecticut Man1 (connecticutman1 AT gmail DOT com) on Sat Jul 19th, 2008 at 06:19:56 PM EST
[ Parent ]

Re: The Real Reason For McCain's Friday Night Phil (4.00 / 2)

Swissy and other tax havens have been around forever.

And I'm surprised at UBS.

For at least 29 years it was a rule that Swiss banks refuse to open accounts for anyone with American citizenship, residency or holding a U.S. passport. Verboten.

But greed does choke...and some ignore the rules at their peril. Trillions in U.S. OTC derivatives contracts and sub-prime profits just too much to pass up.

There's an old commandment: In life, greed catches up and the greedy shall not be fed...sometime around year 2009-2011.

Well, "You can't vote for war and disown the results"

by idredit on Sat Jul 19th, 2008 at 08:04:23 PM EST
[ Parent ]

Re: The Real Reason For McCain's Friday Night Phil (none / 0)

And here... the McSame crime family has handed us an anvil to beat the crap out them with, IMHO.

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by Connecticut Man1 (connecticutman1 AT gmail DOT com) on Sat Jul 19th, 2008 at 08:42:31 PM EST
[ Parent ]

The Real Reason For McCain's Friday Night Phil Gramm Dump | 15 comments (15 topical, 0 editorial, 0 hidden)

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