Phil Gramm on the Spot

Last month I noted twice (here and here) the John McCain’s key economic advisor, former Senator Phil Gramm was a rapacious corrupt greedhead who would cause nothing but trouble for the Republican nominee. Now MSNBC has revealed that while Gramm was advising McCain on the Credit Crisis, he was lobbying for UBS, the Swiss Bank with the largest exposure to sub-prime toxic mortgages.

The final UBS form listing Gramm’s work as a lobbyist says he was lobbying the Senate in the second half of 2007 regarding the Helping Families Save Their Homes in Bankruptcy Act. The bill would have let bankruptcy judges rewrite mortgage terms for Americans facing foreclosure so they could repay their loans and keep their homes.

The banking industry (including UBS) opposed this measure. The bill failed.

This cannot help but revive memories of the Charles Keating affair.

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0 Responses to Phil Gramm on the Spot

  1. BobbyG says:

    Gramm was also the Senator from ENRON. Real sleazes, this cat and his wife.

  2. Zhirem says:

    Isn’t it terribly surprising that as the exit door opens for Mssrs. Bu$h and Darth Cheyney, that all of these interesting tidbits are starting to come out into the sunlight, and shrieking at the exposure. Witness the former Press Secretary and his new tell-mostly-all book coming out.

    Makes me wonder if the mainstream media might start to pay a little more attention to the unwashed masses of bloggers who uncover these things, or connect the dots with other things; and come to the determination that they are being shown-up in their jobs.

    Not only do we need a new President, we need to elect a new Media too.

    Were it only possible to have such a wish…

    – Zhirem

  3. Morgan Warstler says:

    are you kidding me? hello? bill clinton?

    everyone knows phil gramm supports the banks and they support him, it isnt news.

    if he took aided the trial lawyers, I’d freak out.

  4. Dan says:

    Memories of the Charles Keating affair bring to mind the way you can be corrupt and dirty as hell, and if you’re a connected member of Congress, you’ll probably come out smelling like a rose.

  5. Hugo says:

    Well if Rupert’s not going to fire Trotta for adding insult to Hillary’s RFK injury, at least McCain can fire Gramm. Like, yesterday, would do just fine.

    Also, Bob Barr is the preschool version of Phil Gramm.

  6. Morgan Warstler says:

    Top Obama raiser, Rob Wolf:

    Trotta should be fired. Post haste.

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