Gramm-Leach-Bliley Act

[Lithos]

Don't forget that this bill, lead by Phil Gramm, who is McCain's economic "genius", is one of the primary reasons for the subprime mortgage problem and the Merrill Lynch, Lehman Brothers fiascos of the past few days. The bill passed after 300 million in lobbyist financing and destroyed most of the banking related consumer protections introduced during the Great Depression.

Once again, McCain is not for change, but for more of the same, completely discredited lobbyist driven politics. Privatized profit and socialized risk is not a viable economic policy, it's not only wrong, it's a crime.

L-

[halobeam]

1. I permalinked this exc. post.....

http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=389&topic_id=4001332

[Make7]

2. You beat me to it - I was just looking up info to post about the Gramm - McCain connection. ( n/t )