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John McCain's Lobbyist Universe
tpmmuckraker.talkingpointsmemo… — There's been a lot of talk in the last few weeks and months about John McCain's ties to lobbyists. So here at TPMmuckraker, we decided to do a little digging to officially catalog the possibilities. What we came up with, we fondly call "John McCain's Lobbyist Universe," a working guide to the presidential hopeful's connections.
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- cocacolakid301, on 07/04/2008, -1/+3They didn't include enough about McCain's economic adviser Phil Gramm's past. He was a senator who took cash from the banking industry and introduced - and passed - a law that removed consumer safeguards in place since the Great Depression. This allowed banks to merge with financial investment institutions and begin selling risky investment products, including speculating on mortgages. This led to the subprime meltdown we have today which is destroying our economy. Then Gramm quit the Senate and went to work for UBS, a gigantic international bank that took advantage of Gramm's new law and gobbled up investment firms, then had Gramm lobby George W. Bush to remove the remaining consumer safeguards on predatory lending. Gramm is a giant POS, and McCain has nothing but praise for the man, he even wants to put him in charge of the Federal Reserve - the guy who had led us into a recession would be in charge of getting us out!
Read more here: http://www.ickypeople.com/2008/04/bill-clinton-maj ...
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