AMERICAblog: Barney Frank on Phil Gramm: "He's the scariest part of John McCain"
Traumatic
· 1 year ago
Oh, and Gramm didn't work for McCain's campaign before he did. Is flip-flop still a term that's used?
dad
· 1 year ago
Mr. Gramm's colorful expressions have gotten him in trouble before -- from the quip about money being the mother's milk of politics to his boast about a spending bill he'd loaded with goodies for Texas: "I'm carrying so much pork, I'm beginning to get trichinosis." In 1981, he went after the food stamp program by noting that "we're the only nation in the world where all our poor people are fat."
ron071
· 1 year ago
How much more is there to learn about McSame? How is it possible that any informed voter could even consider four more years of Bush disasters?
Bush_Bites
· 1 year ago
OT:
This guy just goes whichever way the wind's blowing, doesn't he?
BAGHDAD — After intense U.S. assaults, al-Qaida may be considering shifting focus to its original home base in Afghanistan, where American casualties are running higher than in Iraq, the top U.S. commander in Iraq said Saturday.
"We do think that there is some assessment ongoing as to the continued viability of al-Qaida's fight in Iraq," Gen. David Petraeus told The Associated Press in an interview at his office at the U.S. Embassy.
Petreaus is a general that fights from a computer room. I am not saying he lacks honor, but he does slob then knob of the adminsitration with impunity, without fear and clearly without shame. A four star slave in fatigues.
An old cliche is that we can judge people by the company they keep. McCain's camp has vigorously tried to scare people about Obama's associations. Well, if you're a hard working wage earner consider John McCain's friend Phil Gramm. In 1996, John McCain endorsed former Texas Senator Phil Gramm's quest for the presidency. As a Senator, Gramm was the Chairman of the Senate Banking Committee and worked hard to promote the interests of banks and credit card companies at the expense of wage earners and small business entrepreneurs.
lynchie
· 1 year ago
Gramm was a major push behind changing the bankruptcy laws. Nothing strange about his involvement with the credit card industry, just a co-incidence.
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.
Gramm's long been a handmaiden to Big Finance. In the 1990s, as chairman of the Senate banking committee, he routinely turned down Securities and Exchange Commission chairman Arthur Levitt's requests for more money to police Wall Street; during this period, the sec's workload shot up 80 percent, but its staff grew only 20 percent. Gramm also opposed an sec rule that would have prohibited accounting firms from getting too close to the companies they audited—at one point, according to Levitt's memoir, he warned the sec chairman that if the commission adopted the rule, its funding would be cut. And in 1999, Gramm pushed through a historic banking deregulation bill that decimated Depression-era firewalls between commercial banks, investment banks, insurance companies, and securities firms—setting off a wave of merger mania.
I am constantly amazed that none of this shit sticks to politicians. They get a pass from every journalist (not that there are many). Nothing sticks to Gramm this piece of shit is out for himself yet the majority of Americans who keep putting these turds in power continue to vote for them. In part I blame the DNC who continue to play the pussy game. Don't say anything bad about anyone especially if its true while getting kicked in the stones. We on the left need to constantly point out their egregious attempts to help only the rich at the expense of Americans.
Õ¿Õ
· 1 year ago
This is crazy repuke economic policies finally hitting. It's weird how they keep dragging it out. I was watching the Newshour on PBS back when Bears & Stearns was going under and the guest advocating for everybody just to remain calm was ashen gray and sweating. I'll never forget that image. It will probably be iconic to me in the future. B&S survived the Great Depression. They're printing so much money making yours worthless while they prepare to bail and head outta country. That's what's going on. I withdrew all my money, for what it's worth, and have it with me now in a fireproof safe beside me. Might be able to buy a loaf of bread with it.
lynchie
· 1 year ago
I was at my bank yesterday. It is a small, private bank, two branches. The manager who i know really well was standing just inside his office watching customer after customer take out their savings (about 15 in front of me) He was visibly sweating. When I finally got to the teller he came out and called me inside his office and implored me not to draw out my money. I said I was making a deposit but I asked him if everything was ok. His answer was that regardless of how well they had managed the small bank. They did zero sub prime mortgages and I know were scrupulous in looking at every loan candidate people for the most part are extremely nervous. You are not alone in taking your money out and keeping it close. Thankfully my home is paid for and I have a huge garden and heat with wood. Company is drilling a gas well in a couple of weeks on my property so hopefully i will have free heat, but the vast majority are up to their eyelids in debt, house worth less, huge mortgage, gas guzzler SUV in the driveway and they are starting to get restless and still we see nothing from our elected politicians (who by the way have no clue, no sense of reality and only care about themselves and the people who pay them off every month). Next couple of years are going to be interesting and very painful.
Butch1
· 1 year ago
I took my money completely out of the market a year ago just before all this started escalating. We keep money on hand, but have left the major portion in the bank. What is depressing is that if the chimp calls Martial Law, the trained goons can and will come into your home and lift your box of money from you as they will mine if they can find it. You resist, and they will kill you claiming your are an "enemy of the state" or "terrorist". These are the times we are living in hopefully, Bush won't look for an excuse (red flag) to go off the deep end before we can get him out of office. He's a dry drunk and he's a sociopath that doesn't care about anyone but himself. The rich will always be protected in a society of Martial Law. That is how it is designed. I hate to be pessimistic, but these are bad times for the average person without connections or protections from this government. I keep my passport current but under Martial Law, one will not be able to come into or go out of this country. Let's hope Bush is never forced to do it. Perhaps, he can be tried when he is out of office and has no power to control the situation.
Õ¿Õ
· 1 year ago
They're trying to drag it out until turdpiece leaves office and blame it on the democrats.
ron071
· 1 year ago
Phil " Whiner " Gramm is a perfect poster boy for the Republicans. He perfectly reflects what they are all about. Any informed voter should be ashamed to vote Republican in any state in the USA.
Andrew
· 1 year ago
Come on folks, let's get real.If your looking to place the blame on the current financial crisis, look no further than both parties. The culmination of financial events that are now unfolding have taken decades to manifest themselves and we're the generation that is now going to pay a very heavy financial price for others lack of oversight both in the private sector as well as government. We have had a government which shortly after WWII decided to get in bed with the military/industrial complex which Eisenhower warned us about back in 1960. Probably the grandaddy of the Necon movement. After all there is always a buck to be made in a war whether it was WW I, WWII, The Korean War, Viet Nam ,Persian Gulf I and now II. But the problem that always arises is that wars have to be paid for and who better to foot the bill than the American tax payer? The only difference between Barney Frank and Phil Gramm, is that Frank will hit you with a velvet glove while Gramm uses a wodden club. But make no mistake about it: at recent hearings last week when Frank makes the statement that banks are too big to fail and that the Federal government must help them with a bail out, the money for that financial safety net under those greedy liitle guys on Wall Street is us. The American tax payer. No matter where the bail out comes from other than foreign Soverign Wealth Funds buying even more worthless Fannie and Freddie bonds than they already have, we the tax payer will ultimately get stuck with the bill. It has almost become a daily event. Oh, you lost how many billions? No problemo, just pay a fine and get on your way with this get out of jail card. As I said yesterday, Americans have every right to be angry at where we are financially. But if those like Gramm are wondering where all that whining is coming from, look no further than the bankers on Wall Street looking for the little guy to clean up after the devistation they have left behind.
scottinsf
· 1 year ago
Agreed! Barney Frank is a pathetic little man and needs to go. The people of Massachusetts deserve better. Oh, and San Francisco deserves a lot better than Pelosi as well. I am ashamed she is my congressperson.
Butch1
· 1 year ago
It's unfortunate we can not find any charges to bring against this arrogant, bloated, "Jabba the Hud". Whinners? Let's put a hold on his misbegotten piles of money made off the backs of real American workers and let him live on a couple hundred dollars a week! You want to hear a pig squeal? He may call Americans whinners but this pig will squeal, I guarantee it. What happens to a person in their lifetime to make them turn into a person as revolting as this jerk...
jr
· 1 year ago
Gramm's a lifelong Hoovernomicist. The white trash who vote for McCain deserve what they get
Chris From Maine
· 1 year ago
The scariest part of John McCain is that he is a possibly senile old man who has an extremely bad temper and is in very bad health. It is possible he wont even make it to November, and if he does his Vice President will probably become President without ever being elected.
btw, for those who forget, McCain had to have surgery on his cancer after running for President, its possible the stress of just running for the nomination made his condition that much worse. What will the stress of a full campaign do to him?
osage
· 1 year ago
This could be a scandal that ends up killing John McCain's candidacy. If Cindy and or John McCain have monies deposited in the USB AG Liechtenstein Bank, it's likely they'll be investigated for tax evasion. Maybe Romney is willing to be VP because he smells blood in the water.
Rumor has it that Mr. Gramm is going to be indicted for some fraud concerning UBS and the ponzi schemes there and that that is truely the reason he resigned.....
All Comments
This guy just goes whichever way the wind's blowing, doesn't he?
BAGHDAD — After intense U.S. assaults, al-Qaida may be considering shifting focus to its original home base in Afghanistan, where American casualties are running higher than in Iraq, the top U.S. commander in Iraq said Saturday.
"We do think that there is some assessment ongoing as to the continued viability of al-Qaida's fight in Iraq," Gen. David Petraeus told The Associated Press in an interview at his office at the U.S. Embassy.
http://www.huffingtonpost.com/2008/07/20/genera...
http://www.motherjones.com/news/feature/2008/07...
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.
Gramm's long been a handmaiden to Big Finance. In the 1990s, as chairman of the Senate banking committee, he routinely turned down Securities and Exchange Commission chairman Arthur Levitt's requests for more money to police Wall Street; during this period, the sec's workload shot up 80 percent, but its staff grew only 20 percent. Gramm also opposed an sec rule that would have prohibited accounting firms from getting too close to the companies they audited—at one point, according to Levitt's memoir, he warned the sec chairman that if the commission adopted the rule, its funding would be cut. And in 1999, Gramm pushed through a historic banking deregulation bill that decimated Depression-era firewalls between commercial banks, investment banks, insurance companies, and securities firms—setting off a wave of merger mania.
I am constantly amazed that none of this shit sticks to politicians. They get a pass from every journalist (not that there are many). Nothing sticks to Gramm this piece of shit is out for himself yet the majority of Americans who keep putting these turds in power continue to vote for them. In part I blame the DNC who continue to play the pussy game. Don't say anything bad about anyone especially if its true while getting kicked in the stones. We on the left need to constantly point out their egregious attempts to help only the rich at the expense of Americans.
We have had a government which shortly after WWII decided to get in bed with the military/industrial complex which Eisenhower warned us about back in 1960. Probably the grandaddy of the Necon movement. After all there is always a buck to be made in a war whether it was WW I, WWII, The Korean War, Viet Nam ,Persian Gulf I and now II. But the problem that always arises is that wars have to be paid for and who better to foot the bill than the American tax payer?
The only difference between Barney Frank and Phil Gramm, is that Frank will hit you with a velvet glove while Gramm uses a wodden club. But make no mistake about it: at recent hearings last week when Frank makes the statement that banks are too big to fail and that the Federal government must help them with a bail out, the money for that financial safety net under those greedy liitle guys on Wall Street is us. The American tax payer.
No matter where the bail out comes from other than foreign Soverign Wealth Funds buying even more worthless Fannie and Freddie bonds than they already have, we the tax payer will ultimately get stuck with the bill.
It has almost become a daily event. Oh, you lost how many billions? No problemo, just pay a fine and get on your way with this get out of jail card. As I said yesterday, Americans have every right to be angry at where we are financially. But if those like Gramm are wondering where all that whining is coming from, look no further than the bankers on Wall Street looking for the little guy to clean up after the devistation they have left behind.
btw, for those who forget, McCain had to have surgery on his cancer after running for President, its possible the stress of just running for the nomination made his condition that much worse. What will the stress of a full campaign do to him?
http://abcnews.go.com/Blotter/story?id=5378080&...
http://www.huffingtonpost.com/2008/07/17/sen-le...