(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 policies, or "swaps," ended up at "the heart of the subprime meltdown," one expert said.
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