John McCain's Gramm Gamble

Texas Observer by Patricia Kilday Hart | Jun. 4, 2008 (Special Report)

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 »

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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.