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Gramm Guilty of Sparking Subprime Mess

Ex-senator still has clout despite dire deregulation

By Kate Rockwood, Newser Staff

Posted Jul 26, 2008 5:10 PM CDT

(Newser) – Former Senator Phil Gramm helped create the subprime meltdown, yet faces no punishment—and could even become treasury secretary if John McCain wins in November, David Corn writes in Mother Jones. Eight years ago, a Gramm bill stopped the feds from regulating insurance policies that... Read full story »

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Gramm Guilty of Sparking Subprime Mess

Ex-senator still has clout despite dire deregulation

John McCain • Treasury Department • Enron • subprime crisis • Phil Gramm

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More Newser Stories

'Venal' Phil Gramm No Big Loss to McCain Camp

'Nation of whiners' quote simply the latest in a long string of bad moves

Feds Overhaul Credit Card Rules

New rules will tighten interest rates, could cost issuers $10B in revenue

Treasury May Lower Mortgage Rates to 4.5%

Rates could go as low as 4.5% to curb falling home prices

FDIC Pushes Plan to Ease Mortgage Payments

Bush camp opposes using bailout funds

We Should Offer Banks a Choice on Exec Pay

Either let US set limits, or make firms set aside cash: economist

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