http://www.nationalmortgagenews.com/premium/archive/?ts=1034092803 This is a Mortgage news site. Its serves the mortgage industry insiders. This little artcle reports on the retirement from congress and move to UBS Warberg of a little guy named Phil Gramm. Phil wrote a little piece of legislation call Gramm Leach Bliely act of 1999. This little piece of legislation was touted as a consumer information protection act. Stuffed in it was the repeal of Glass Steagall which lasted for 60+ years and protected the housing market from consolidations of all types of banking. He was lobbied by the industry to write this little piece of work and was then rewarded with a cushy job. This little piece of work gave us the sub prime mess. So hwat does McSame do? He hires the guy to advise him on the economy. If you like the sub prime mess you will love the McSame economic plan. Sen. Phil Gramm, R-Texas, a one-time chairman of the Senate Banking Committee, is joining UBS Warburg as its vice chairman. Sen. Gramm, who will retire early next year, co-authored the Gramm-Leach-Bliley Act, which eliminated legal barriers that separated banks from securities firms. A frequent critic of Fannie Mae, Freddie Mac, and the Federal Home Loan Bank System, Sen. Gramm will be joining a firm that has made quite a bit of money the past two years off the mortgage market, especially in regard to subprime lending/securitization.