More Headaches for McCain’s Camp

Know why McCain wants to distance himself from former Senator Phil Gramm? It's not because of Gramm's obnoxious remarks calling Americans "a nation of whiners" who are in "a mental recession." Those remarks were so ascerbic that they may've been made just to give McCain an excuse to distance himself from Gramm. This issue is a lot deeper than it looks on the surface.

When Gramm was a Senator he was Chairman of the Banking Committee. He pushed through the legislation known as the "Enron Loophole." This loophole allowed US investment banks to bypass Federal regulations governing futures trading, and is the reason why investment banks were able to falsely inflate the prices of oil, wheat, corn and other commodities through massive futures trading, causing your costs of gas, heating oil and food to go through the roof.

Gramm also created the Gramm-Leach-Biley Act, which got rid of the laws that seperate banking, insurance and brokerage activities in America. The Gramm Act was touted as a new way to protect consumer privacy, but the real meat on the Act's bones was banking deregulation. Essentially, this Act did away with laws written after the Great Depression to protect us from another Wall Street/Banking Industry collapse. That's right, Gramm stripped the system of it's safe guards nine years ago, and guess what? The value of the dollar has nose-dived, four major economic institutions have failed, Wall Street is unstable, and we are in a worsening recession.

Notably, the US investment banks that gained the most from the Enron Loophole and from the Gramm Act contributed more than a million dollars to Gramm's campaign.

Currently Gramm is Vice Chairman of UBS, the Swiss Bank that came up with the idea of "death bonds." Worse, though, UBS is involved in a scam where they sold auction rate securities to American customers. Auction rate securities are supposed to be as safe as cash, but the way UBS did it, the fees garnished by their in-house investment bankers were intentionally higher than the return on the securities, ripping off their American customers. The Massachusetts Attorney General has already filed charges against UBS, and private brokers world-wide have dropped UBS stock. UBS is forecasted to lose 82.91% of it's value in 2008. We are talking about the corporate bank where Gramm is Vice Chairman. Looking at his track record there and at the havoc he has wrought on the US economy through the Senate Banking Committee, it's clear that either Gramm is a criminal or grossly incompetent.

Now McCain wants nothing to do with Gramm, wants us to forget Gramm has been a key player on McCain's team. Gramm was McCain's campaign CO-CHAIR and LEADING ECONOMIC ADVISOR. Previously, McCain had said that he planned to appoint Gramm as SECRETARY OF THE TREASURY.

With Gramm as McCain's leading economic advisor, now you know why economists and analysts say that McCain's economic policy plans are untenable.

Why don't you look into Obama's ties to the mortgage mess?

http://savagepolitics.com/?p=165

Why doesn't Newsweek just drop the charade and endorse obama. The media wants Obama to win so they will manipulate every news cycle to do so.....thank God for Fox News.....

Today McCain announced that he "hates war." If McCain hates war so much, why does he want to bomb Iran and stay in Iraq for 100 years? He knows the war is unpopular and is trying to make himself look like a dove. He is trying to re-write history. Everybody knows McCain is a hawk. Now he's pretending to hate war.

At the same time, he tells you : "You should be very, very afraid. The world is full of terrorists and only hawks like me can keep you safe."

Does anybody else see the irony of this? He's playing a double game.

Besides, it was the hawks (like Cheney, et al) who got us into this mess, and it's the tough diplomats (like Obama) who will get us out. Hawks make you unsafe because they incite anger and war-like behavior by running around threatening people. Diplomats make you safe because they diffuse anger and open new ways for other people to express their greivances without war or terrorism. For example, look what Kennedy did with the Bay of Pigs incident. The Soviet Union had nuclear missiles in Cuba, aimed at Miami and Washington DC. Kennedy got them to remove their missiles, peacefully. He had lots of other options. He could have attacked Cuba or attacked Russia. He could have started WW III. But he didn't. He used TOUGH diplomacy, the same kind that Obama is advocating.

It works.

to ampo80: I feel sorry for you and you ignorance. May the Donkey have mercy on your soul!! Better luck in the 2024 election, you poor misguided Packaderm!

Whine democrates, whine!!! It's what you're best at! And just keep driving home the point that you are really socialists/communists! Give us your money- we know how it is best spent! Love it!!

Hilarious. Don't talk about Obama's 20-year racist pastor - talk about people with tenuous connections to McCain!

http://www.washingtonpost.com/wp-dyn/content/story/2008/03/17/ST2008031702488.html

ha ha ha. let the mcain destruction begin. now that hillary is out of the way, newsweek can freely worship obama without being distracted by journalistic integrity or maintaining an "objective" voice.

be forewarned, haters! anything negative toward obama will be met with furry, scorn and contempt.

Obama's just like any other democrat. Spend your money, promise everything to everyone, tax the middle class to the hilt. Democrat's are socialist's. They believe in income distribution and solve any issue with money. Obama's a talker and the other countries will walk all over us with him in office.

Obama's just like any other democrat. Spend your money, promise everything to everyone, tax the middle class to the hilt. Democrat's are socialist's. They believe in income distribution and solve any issue with money. Obama's a talker and the other countries will walk all over us with him in office.

I'll tell you why Obama has support from other countries. These other countries want someone reasonable who does not only look at them to gain or profit off of. Look at how hated we are around the world. Burma would rather see their people DIE than let the U.S. in. WHy? Fear that we will invade them for their oil and their land.
WHen more people get behind you and concentrate on a joint effort, you get more support, and more people willing to get a common goal accomplished. DUH?
Who wants to go through life being hated and rallied against? America needs people to rally with it, not against it! Why does someone who can pull the WORLD together on a common goal seem bad to you?

Bush has proved that guns are not the sole answer to our problems. Over 4000 Americans have died because we decided we needed a gun fight...this ain't the "WILD WILD WEST".
Aren't we sick of dieing and killing and lives being taken? WHat is the main goal again?
Can ANYONE explain to me what we will WIN in IRAQ? What is win? What is lose? I thought the goal and sole pyurpose was to remove Sadaam (who was orignally on our payroll?!?), and drive out terrorists.
They drove the terror camps out of Iraq, and into another country. Is that the definition of winning?