Phil Gramm

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25 People Responsible for the Crisis

Greenspan, King, and Clinton all played a role, the Guardian writes

(Newser) - The current recession is a wholly man-made phenomenon, the Guardian reminds us, and they’ve got the names of those responsible. Here are four from their list of 25:
  • Alan Greenspan: Fed chair for 19 years, Greenspan kept interest rates low as the housing bubble developed, backed subprime lending and
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Ex-Sen. Gramm Sticks to His Guns on Deregulation

Republican touts benefits of subprime loans, credit-default swaps as critics cry foul

(Newser) - While some experts argue his work contributed to the economic meltdown, former senator Phil Gramm stands by his efforts to deregulate the lending and financial sectors, the New York Times reports. “There is this idea afloat that if you had more regulation you would have fewer mistakes,” Gramm... More »

McCain, Aides Often Part Ways on Policy

Politico documents the differences

(Newser) - Much has been made recently of John McCain’s difficulty in driving a message from his “eclectic and occasionally politically inconvenient hodgepodge of policy positions,” Politico says, but little has been said about how often the candidate’s top aides disagree with him. And while fewer public disagreements... More »

Gramm Guilty of Sparking Subprime Mess

Ex-senator still has clout despite dire deregulation

(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 protected Wall Street securities. These... More »

Did McCain Dupe Novak on VP Pick?

Columnist suspects he was played to rain on Obama's parade

(Newser) - Conservative columnist Robert Novak triggered a frenzy of speculation that John McCain was about to announce his choice for runningmate just as Barack Obama was grabbing favorable headlines on his trip to Iraq. Novak now believes he may have been manipulated in a tactic to steal attention by the McCain... More »

Gramm Quits McCain Campaign

Besieged adviser refuses to be a 'distraction'

(Newser) - After a week of fallout from his gripe that Americans are "whiners," Phil Gramm stepped down today as John McCain's national co-chair, Politico reports. "It is clear to me that Democrats want to attack me,” Gramm said. The “distraction hurts not only Senator McCain… it... More »

'Venal' Phil Gramm No Big Loss to McCain Camp

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

(Newser) - "Nation of whiners” adviser Phil Gramm was simply an "accident waiting to happen" for the McCain campaign, writes Max Blumenthal in Huffington Post. Blumenthal runs down the “reactionary, venal and destructive” senator’s foibles—which run from enabling Enron to investing in porn. Gramm “left a... More »

Mac Pushes Gramm Into the Background

Economic adviser ripped for 'whiners' comment won't appear with candidate

(Newser) - John McCain’s camp has considered Phil Gramm persona non grata since he called Americans "whiners" in a "mental recession" last week, the Washington Post reports. One adviser says he hasn’t spoken to the former senator, a confidante of the Republican on economic matters, “since the... More »

Gramm's Got It: We Are Whining

He's talking real economics–not 'campaign econ'

(Newser) - When John McCain aide Phil Gramm said America is in a “mental recession,” not a real one, he was speaking with much-needed honesty and accuracy, Amity Shlaes writes in the Washington Post. Gramm has faced an avalanche of bad press for speaking candidly rather than from the perspective... More »

Gramm in Doghouse After 'Nation of Whiners' Crack

Top McCain adviser in trouble with candidate, claims he was misquoted

(Newser) - After Phil Gramm, a ranking economic adviser to John McCain, described America as a “nation of whiners” suffering from a “mental recession,” the campaign trail is lit up over the topic, Time reports:
  • From McCain himself, “Phil Gramm does not speak for me. I speak for
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McCain Insider: Economic Woes Merely 'Mental Recession'

Phil Gramm calls US a 'nation of whiners'

(Newser) - One of John McCain’s top economic confidantes said yesterday the country is in a “mental recession” and the US has “become a nation of whiners,” constantly “complaining about … America in decline.” The Democratic National Committee moved quickly to condemn Phil Gramm’s remarks—... More »

Economy's Woes Put McCain Advisers in Spotlight

Brain trust's credentials questioned in economic slump

(Newser) - John McCain's choice of economic advisers is stirring up controversy, the Washington Post reports. Phil Gramm is vice-chairman of troubled UBS and oversaw widespread deregulation as chair of the Senate Banking Committee in the late 1990s, and Carly Fiorina was publicly ousted as CEO of Hewlett-Packard. In the current economic... More »

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