Who's to blame for the biggest financial catastrophe of our time? There are plenty of culprits, but one candidate for lead perp is former Sen. Phil Gramm. Eight years ago, as part of a decades-long anti-regulatory crusade, Gramm pulled a sly legislative maneuver that greased the way to the multibillion-dollar subprime meltdown. Yet has Gramm been banished from the corridors of power? Reviled as the villain who bankrupted Middle America? Hardly. Now a well-paid executive at a Swiss bank, Gramm cochairs Sen. John McCain's presidential campaign and advises the Republican candidate on economic matters. He's been mentioned as a possible Treasury secretary should McCain win. That's right: A guy who helped screw up the global financial system could end up in charge of US economic policy. Talk about a market failure.



Foreclosure Phil

I thought Allie and Dive boy wanted to talk about the issues. Isn't the housing crash an actual issue? They don't want to talk about issues. LOL.

I think you just have bad breath, dude. Grab ya a mint.

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"Some men eventually stumble over the truth but they usually pick themselves up and walk on as if nothing ever happened."
-Winston Churchill

"But though there is no difference in this respect between the best demagogue and the worst, both of them having to present their cases equally in terms of melodrama, there is all the difference in the world between the statesman who is humbugging the people into allowing him to do the will of God, in whatever disguise it may come to him, and one who is humbugging them into furthering his personal ambition and the commercial interests of the plutocrats who own the newspapers and support him on reciprocal terms."
-George Bernard Shaw

Motherjones news? Are you serious?

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Poor Spot! He was tired of being thought of as stupid. "I'm gonna join Mensa," he said to myself, "and then I'll be legally permitted to wear the society's insignia--a tattoo of a little map pin pushed into my flesh--and then everyone'll know that I'm not dumb at all!"
Spot Joins Mensa
by James "Kibo" Parry

Yes, he is serious.

The same thing happened in the 1980's with the savings and loan collapse. A Republican administration deregulates the industry which then leads to abuse and collapse.

Who makes all the money? The Republicans on Wallstreet.

Who picks up the tab? The U.S. taxpaper.

How convienent!

Dude's a prick too ...

Political Punch

Actually the majority of Wall street brokers and investment bankers are registered Democrats....