Bill Ayers? Let’s talk about someone whose policies will affect every American

7. October 2008, 10:07 UhrWilliam

Tell the people whose house just got foreclosed, lost their job, and can’t afford gas how Bill Ayers is relevant to them. It’s desperate classic GOP swiftboating.

Shall we talk about someone who did something radical when Obama was 8 years old or should we talk about  the people who are responsible for the US financial situation that, according to the conservative Wall Street Journal, are “the people riding on his [McCain’s] campaign bus.”

Phil Gramm, McCain’s economic adviser pushed through a bill that deregulated swaps - insurance policies covering the losses on securities in the event of a default.

“These unregulated swaps have been at the heart of the subprime meltdown.  I happen to think Gramm did not know what he was doing. I don’t think a member in Congress had read the 262-page bill or had thought of the cataclysm it would cause.”

–Michael Greenberger, former Director of CTFC division of trading & markets

But how did Gramm get this into legislation?  He did it deceptively.  He bundled it into a must-pass omnibus spending bill and slipped it in at the last possible minute during the Bush v. Gore standoff at the very end of the Clinton Administration.

Gramm was also heavily connected to Enron.  Enron was a generous contributor to Gramm.  Gramm’s bill exempted energy trading from regulatory oversight, allowing Enron to run rampant, wreck the California electricity market, and cost consumers billions before it collapsed. And this is the kicker… 8 years earlier, his wife, Wendy Gramm, as  CFTC chairwoman, pushed through a rule excluding Enron’s energy futures contracts from government oversight. Wendy later joined Eron’s board, and in the following years her Enron salary and stock income brought between $915,000 and $1.8 million into the Gramm household.

Yea, lets talk history. 

Let’s talk about “Foreclosure Phil” Gramm, Carly “Golden Parachute” Fiorina, and  Rick “Freddie Mac” Warren - ALL McCain campaign advisers, the people who will be guiding the McCain economic policy … because the old man says he doesn’t know much about it.

Relevant history.

2 comments:

  1. Number 9, 7. October 2008, 10:16

    You are a liar William. An unrepentant liar. A delusional liar. A serial liar.

    This freedom clause at TennesseeFree.com does not include lying. Glen, check your email.

    Phil Gramm was not responsible for the mess that at least three Congresses and four Presidents created.

    If anyone really wants to know about why the financial system almost failed, NPR of all places, had a concise explanation.

    For those with open minds, listen to the MP3:

    http://www.thisamericanlife.org/Radio_Episode.aspx?episode=365

     
  2. Number 9, 7. October 2008, 11:12

    Here is the direct link to the MP3 above:

    http://podcast.thisamericanlife.org/podcast/365.mp3

    You have to love when the wacko Marxist extremists try to swiftboat Phil Gramm. The hypocrisy is perfect.

     

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