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Olbermann: McCain Economic Policy Shaped by Bank Lobbyist

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Swiss bank paid McCain co-chair, Phil Gramm to push agenda on U.S. mortgage crisis. Senator Phil Gramm advised McCain on his subprime mortgage bailout policy while he was also a registered lobbyist for the Swiss bank UBS. Per TPM: "UBS has some $37 billion in write-downs on assets tied to bad US mortgages...According to Forbes, UBS has some $37 billion in write-downs on assets tied to bad US mortgages. In other words, the bank's very life appears to be on the line in how the US government chooses to handle the matter."

Channel: News & Politics
Uploaded: May 28, 2008 at 5:45 am
Author: NCDem

Length: 05:28
Rating: 5.00
Views: 3864

Tags: advisor  Bank  corruption  crisis  economic  Gramm  lenders  Lobbyist  McCain  mortgage  Phil  predatory  

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bigdog49094 (September 7, 2008 at 6:03 pm)
Over the past decade, total government spending (state, local and federal) has increased from $2.9 trillion to an astonishing $5.1 trillion in 2008. The $3.1 trillion federal budget submitted by President Bush for 2009 is greater than the combined 1998 spending of the federal government, all 50 states and over 87,000 local governments.The government cannot continue spending at this rate if America is to remain competitive in the global marketplace.
UncleRico13 (September 6, 2008 at 11:02 am)
Simple non-manipulated numbers rarely make it to the end user, in this case the voter. The current socio-political environment is one of sensationalism. The average voter has no desire to become self educated. They instead defer to the agenda driven media, (be it left or right) to manipulate their perspectives. It's a sad state of affairs when the voting public won't actively pursue independent source information such as the data presented in Larry Bartel's new book.
Richardgwm (July 28, 2008 at 1:54 pm)
Total stock returns (S&P500) during eight year Presidential terms:Clinton 259%Eisenhower 216%Reagan 200%Truman (7.8 years) 185%Bush 4%That is not 4% per year. That is 4% over the entire 7+ years. If you want to lose another 8 years, vote George W. McCain.
PureConservative (July 26, 2008 at 8:37 am)
McCain would continue Bush's economic policies that do NOT work.Look at our economy now. Our economy sucks!Every time our economy tanks, a Repubican is President!Herbert Hoover - Great DepressionDwight Eisenhower - 1957 RecessionRichard Nixon - 1971 RecessionGerald Ford - stagflation in 1973Ronald Reagan - "Black Monday," Oct. 19, 1987George H. W. Bush - 1991 RecessionGeorge W. Bush - right now!We deserve a change.Vote Barack Obama.
Lane4411 (July 17, 2008 at 3:55 pm)
GRAMM IS DIRTYTexas S&L owner Jerry D. Stiles, who has been convicted of bank fraud in the S&L scandals, advanced $117,000 interest free for a construction crew that came from Texas to Maryland to build Gramm a vacation home. About the same time, Gramm ushered through a bill that allowed sick Texas S&L's (such as the ones Stiles owned) to stay open. He later urged regulators to give Stiles waivers -- even after they found irregularities that led to Stiles' convictionINTERVIEW GRAMM
tropicalanimal (July 12, 2008 at 2:33 pm)
Wow, well Im not suprised. Very recently, Phil Gram called american a "nation of whiners" didn't he. If McCain becomes President of America I'd call America " a nation fooled by sensationalist media"
garyowen4ever (July 10, 2008 at 1:00 am)
YES IT IS.
garyowen4ever (July 10, 2008 at 12:57 am)
IS THIS A CENSORHIP SITE???
GurnSi (July 5, 2008 at 8:58 pm)
HITLER (to 1941) vs BUSH Part 21/21 DIFFERENCESH teetotal,not drunk driverH skilled oratorH didn't rape frogsH shunned marijuana,cocaine,tobacco;never ducked medicalH spat at dodgers of active serviceH's family law-abiding,decentH rebuilt economy,slashed unemploymentH self-made author,environmentalist,historian,artistH never hid thefts/massacres as liberationH brave,volunteered,served in combat,twice decorated for valor,injuredH dead. B only just begun genocides (Election'08? NSPD51)
123BDG123 (June 11, 2008 at 12:27 pm)
This is one of the most important points I have seen as it pertains to this campaign. The repeal of Glass-Steagal and banking deregulation is a major contributor to this mess. SOMEONE NEEDS TO FIND A WAY TO GET THIS VIEWED MORE THAN 2000 TIMES. Get this in the hands of Ron Paul or Barack Obama's followers.

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