John McCain's Gramm Gamble

The GOP presidential nominee is relying on the ex-senator who helped bring you the mortgage crisis and Rick Perry.

Gramm serves as co-chair of the McCain 2008 presidential campaign. As one of the candidate's chief economic advisers, he is mentioned as a possible secretary of the treasury in a McCain administration. Their friendship was forged in the Senate as they worked against the Clinton health care proposal, and cemented when McCain served as national chairman of Gramm's own (ill-fated) 1996 presidential bid. Full Story »

Posted by Kaizar Campwala

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Mike LaBonte
4.1
by Mike LaBonte - Oct. 1, 2008

Lots of information. Overall it's quite good for sources and evidence, but there are some holes. No attempt really to get pro-Gramm viewpoints, but several Republicans are quoted.

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Jeff Clark
4.8
by Jeff Clark - Oct. 1, 2008

Finally an expose of a key player in legislation that led to two crises: sky-high energy costs and the credit-housing crisis that's still unfolding. And what publication brings it to you? The NYT? WaPo? LAT? Sorry, they have smaller fish to fry. This was brought to you by a solid, non-partisan paper from somewhere between the two coasts. I can't help recalling the S&L scandal, when it was the "local" media that really dug into what was happening. Martials a great deal of info from a variety of sources. Look forward to more good articles from the Texas Observer!

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Douglas Hord
5.0
by Douglas Hord - Oct. 1, 2008

Best presentation of Gramm and his influence on our world over the last twenty-five years that I've read.

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Kristin Gorski
4.3
by Kristin Gorski - Oct. 1, 2008

This special report gives a more complete picture of where McCain could be heading in choosing his cabinet: namely Phil Gramm as Treasury Secretary, an influential Texas politician and former congressman who has actually contributed to the U.S.'s mortgage crisis through encouraging banking de-regulation. From the article: "Financial wizard Warren Buffett has labeled the risky new investment instruments Gramm unleashed “financial weapons of mass destruction.”" This article ties McCain to Enron, the U.S. mortgage crisis, and a host of other financial and political corruption through his ties to Gramm. Will this topic get mainstream-media coverage? It should, as this is definitely newsworthy! There could be a lot more ... More »

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Paul Peete
4.8
by Paul Peete - Oct. 1, 2008

Ms. Hart delves into the deep pockets of Gramm and dumps out all the loot he has purloined through his manipulation of all around him.

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Stephen Pizzo
4.3
by Stephen Pizzo - Oct. 1, 2008

I remember Phil Gramm from the 1980s when I covered the savings and loan meltdown. Then, as now, Gramm has been the standard bearer for those in the Republican party and the banking and securities industry who believe the less regulation the better. And then, as now, weak financial sector regulation led to excesses, reckless lending and outright criminality. This article explores those issues.

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Harv Roth
4.8
by Harv Roth - Oct. 1, 2008

This article is well documented and it is just another article I have read in a few days about Gramm. This article recalls some of the damage that he is trying to do in Texas. Gramm and his family profit handsomely for being a political tool for the financial industry.

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Lee Beckom
4.5
by Lee Beckom - Oct. 1, 2008

Good insight into the inner connections of the McCain campaign. Article is in-depth and covers lots of ground. This article helps the reader understand how legislation affects our lives. We need to keep our eyes on Gramm.

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Kaizar Campwala
3.0
by Kaizar Campwala - Oct. 1, 2008
See Full Review » (1 answer)
robert rothman
5.0
by robert rothman - Oct. 1, 2008

Excellent article! It presents the ugly, awful truth of not only Phil Gramm, but more importantly, John McCain and where he is really coming from, and it ain't pretty. The Usual Suspects are at play here: Phil Gramm, George Bush, Ken Lay, John McCain, Karl Rove, just to name a few. Some of the most blantly anti-democracy, anti-capitalism, pro-monopoly people and politicans in the country today behind the scenes and upfront are part and parcel of John McCain. He is no more of a so-called 'maverick' than Ken Lay was. The general public needs, more than ever before, to hear and read story's like this!

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Michael Evelyn
3.6
by Michael Evelyn - Oct. 1, 2008

This is a well researched article with a good historical analysis of how Gramm has become 'Foreclosure Phil' I refer to the title given to him in a 'Mother Jones' article about the same financial legislation and lobbying practices mentioned here for two reasons (1) the title fits and needs to become viral (2) because it has less of a Texas slant to it, the Mother Jones article will have wider national appeal. Make no mistake some of the responsibility for the economic mess we are in with the meltdown of the mortage market can quite legitimately be placed at the feet of Phil Gramm. Question time yet Phil?

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Jennifer Hageman
4.8
by Jennifer Hageman - Oct. 1, 2008

Journalism at its finest. Research, analysis, experts...the only reason this isn't a 5-star rating is that I'm not familiar with this publication enough.

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Eric Yendall
4.1
by Eric Yendall - Oct. 1, 2008

A hard hitting expose of Gramm and his influence on McCain.

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Raphael Kearns
5.0
by Raphael Kearns - Oct. 1, 2008

This is an extremely important issue. The Texas Observer is viewed by many in Texas as a liberal publication. Nonetheless, this is an accurate and factual presentation of an issue that should continue to be focused on, especially in the MSM. I doubt that this story has the "legs" to last very long though. I hope I will be pleasantly surprised and this will continue to get some play. I highly recommend this article to all readers.

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John Kern
4.5
by John Kern - Oct. 1, 2008

As a story about Gramm, and the impact of his philosophy on the country's laws and policies, it is excellent. Since it has the name John McCain in the title, however, there should have been a little more investigation into the links between McCain and Gramm and the role the latter has or will have in the McCain campaign or in a future McCain administration.

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Susan Danley
5.0
by Susan Danley - Oct. 1, 2008

Excellent article. It gives the reader insight into what can happen to the US economy if McCain is elected and Phil Grahmm is allowed to have his way.

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WJ Hammond
4.6
by WJ Hammond - Oct. 1, 2008

This is good journalism. I demonstrates the truth about John McCain's connection to Phil Gramm and what Phil Gramm has done to the country. I wish the article could have included Wendy Gramm's role in all of this. She is the architect of all of this.

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