Rumor has it that the Republicans have controlled the White House from 2000 to 2008 and both houses of Congress from 2000 to 2006.
"We have sort of become a nation of whiners. You just hear this constant whining, complaining about a loss of competitiveness." (Phil Gramm)
Prior to July 18th, 2008, Phil Gramm was the co-chairman and chief financial adviser to th McCain Campaign. Gramm left the Campaign due his comments concerning "constant whining" and "mental recession," - not his past history or economic advice.
From1995 to 2000, Gramm was chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs and had received $1,000,914 in campaign contributions from the Securities & Investment industry
In 1999, Senator Phil Gramm introduced the Gramm-Leach-Bliley Act that derregulated the anti-trust restraints under Glass-Steagall (1933) and allowed mergers commercial banks, investment banks and insurance companies.
In 2000, in the midst of the turmoil that surrounded the results of the 2000 Presidential Election, Gramm placed the Commodity Futures Modernization Act of 2000 in a $384 billion omnibus appropriations spending bill. It was went largely unnoticed.
The act deregulated derivatives trading and exempted energy tradering from regulatory oversight (commonly known as the "Enron loophole"). It should be noted that Wendy Gramm, Phil's wife, was also a member of the Enron board at the time.
The deregulation problem has "Phil Gramm's" fingerprints all over it.
Democrats CREATED this HOUSING CRISIS;;;; PROOF HERE -
September 25th, 2008, 12:26 PM
Andrew Cuomo, the youngest Housing and Urban Development secretary in history, made a series of decisions between 1997 and 2001 that gave birth to the country's current crisis. He took actions that—in combination with many other factors—helped plunge Fannie and Freddie into the subprime markets without putting in place the means to monitor their increasingly risky investments. He turned the Federal Housing Administration mortgage program into a sweetheart lender with sky-high loan ceilings and no money down, and he legalized what a federal judge has branded "kickbacks" to brokers that have fueled the sale of overpriced and unsupportable loans. Three to four million families are now facing foreclosure, and Cuomo is one of the reasons why..."
Enter Robert Rubin. According to a report in The New York Times, Rubin helped broker the final compromise language on financial deregulation.
And while he was brokering a deal between Congress and the White House, he was also, according to The New York Times account, negotiating his own deal with Citigroup. A few days after the banking deal was finalized, Citigroup announced it was hiring Rubin as a de facto co-chair of the corporation.
This chronology and these arrangements raise serious issues about whether federal ethics statutes and informal Clinton administration rules have been violated.
Rubin told The New York Times that he was proud of his work in preserving the Community Reinvestment Act (CRA), an important law that requires banks to make loans in minority and lower-income communities in which they do business. In fact, the final version of the bill significantly weakens CRA: It provides for no ongoing sanctions against holding company banks that fail to meet CRA standards, it lessens the number of CRA examinations, and provisions of the bill will discourage community groups from challenging banks' CRA records..."
At a February hearing, he derided critics who he said were "repeatedly raising alarm bells about the risks Fannie and Freddie pose to the financial system." You may also remember Mr. Dodd as the fellow who got a sweetheart mortgage from former Countrywide Financial CEO Angelo Mozilo, who was thick as thieves with Fannie Mae.
The pain comes from knowing that we have never been safe, and therefore will never be safe again. It comes from knowing we can never be so ignorant again. It comes from knowing we can never be children again. Losing innocence. Remembering heaven. That was the essence of hell. -John Jakes
Slogan/motto:
Shouting at the world cause no one's listening...
Reputation:
September 25th, 2008, 12:56 PM
Your hero wants him as SEC Chief. The man you blame for a big portion of this mess. You don't see this makes you look like an idiot? Well it makes you look like an idiot and you helped point out that McCain is an idiot as well.
The pain comes from knowing that we have never been safe, and therefore will never be safe again. It comes from knowing we can never be so ignorant again. It comes from knowing we can never be children again. Losing innocence. Remembering heaven. That was the essence of hell. -John Jakes
Your hero wants him as SEC Chief. The man you blame for a big portion of this mess. You don't see this makes you look like an idiot? Well it makes you look like an idiot and you helped point out that McCain is an idiot as well.
Not likely.
McCain was right, the dems were wrong, and Obama lied about it.
Slogan/motto:
Shouting at the world cause no one's listening...
Reputation:
September 25th, 2008, 01:01 PM
So your saying that McCain himself didn't say he wanted Cuomo as SEC chief?
The pain comes from knowing that we have never been safe, and therefore will never be safe again. It comes from knowing we can never be so ignorant again. It comes from knowing we can never be children again. Losing innocence. Remembering heaven. That was the essence of hell. -John Jakes
Slogan/motto:
Shouting at the world cause no one's listening...
Reputation:
September 25th, 2008, 01:09 PM
Your blaming a man (Cuomo) that your little hero (McCain) trusts enough to put in a position of power and influence. It appears that your hero (McCain) doesn't agree with you that this man (Cuomo) is to blame for the current economic crisis.
You claim that it is the people who don't agree with you that are ignoring facts they don't like. It has been apparent for some time that it is in fact YOU who ignores facts.
The pain comes from knowing that we have never been safe, and therefore will never be safe again. It comes from knowing we can never be so ignorant again. It comes from knowing we can never be children again. Losing innocence. Remembering heaven. That was the essence of hell. -John Jakes
Your blaming a man (Cuomo) that your little hero (McCain) trusts enough to put in a position of power and influence. It appears that your hero (McCain) doesn't agree with you that this man (Cuomo) is to blame for the current economic crisis.
You claim that it is the people who don't agree with you that are ignoring facts they don't like. It has been apparent for some time that it is in fact YOU who ignores facts.
Cuomo was part of the problem 10 years ago while working for Clinton.
On this we agree.
I have no idea why McCain thinks so highly of him.
However, that has nothing to do with the points I've presented here.
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