http://www.politico.com/news/stories/0308/9246.html Phil Gramm is one of Johnny McSames top advisers and he wrote the bill largely at fault for the sub prime fallout. Phil then went to work for the people who paid him to write the bill. “A regulatory structure set up for banks in the 1930s needed to change because the nature of business had changed,” the Illinois senator running for president said in a New York economic speech. “But by the time [it] was repealed in 1999, the $300 million lobbying effort that drove deregulation was more about facilitating mergers than creating an efficient regulatory framework.” Gramm’s role in the swift and dramatic recent restructuring of the nation’s investment houses and practices didn’t stop there. A year after the Gramm-Leach-Bliley Act repealed the old regulations, Swiss Bank UBS gobbled up brokerage house Paine Weber. Two years later, Gramm settled in as a vice chairman of UBS’s new investment banking arm. Later, he became a major player in its government affairs operation. According to federal lobbying disclosure records, Gramm lobbied Congress, the Federal Reserve and Treasury Department about banking and mortgage issues in 2005 and 2006.