Originally Posted by
GoVols234
Originally Posted by Essential1
stop being Salty GoVols your just mad 57 million people as of right now voted for Obama i can guarentee a majority didn't vote because Young Jeezy said so..... I supported Obama last December and still support him now.. And I can bet you know nothing about politics and the correct policy for a faltering nation.
http://online.wsj.com/article/SB122126282034130461.html?mod=opinion_main_commentarieshttp://online.wsj.com/art...opinion_main_commentaries Read and talk to me in 4 years. Simple economics. Sorry I don't equate factual economics with buying blue lambo's and supporting ridiculous causes. Go listen to young jeezy and dream about your lambo's.
You realize that piece is severly biased. Phil Gramm was a Republican Senator from Texas.
He was also McCain's Senior Economic Advisor. He is also thought to be one the main
culprits of the current economic situation.
Excerpt from Wikipedia
Gramm and the 2007 mortgage and 2008 economic crises
Some economists believe that the 1999 legislation spearheaded by Gramm and signed into law by President Clinton -- the
Gramm-Leach-Bliley Act -- was partially to blame for leading to the 2007
subprime mortgage crisis and 2008 global economiccrisis.[sup]
[9][/sup][sup]
[1[/sup]. The Actis most well-known for repealing much of the
Glass-Steagall Act, whichhad regulated the financial services industry. Gramm responded to such criticism by stating that he saw "no evidence whatsoever" that the subprimemortgage crisis was caused in any way "by allowing banks and securities companies and insurance companies to compete against each other."[sup]
[11][/sup]
The Washington Post in 2008 named Gramm one of seven "key players" responsible for winning a 1998-1999 fight against regulation of
derivatives trading. [sup]
[12][/sup] Gramm was later critical to passage of the
Commodity Futures ModernizationAct of 2000, which kept derivatives transactions, including those involving
credit default swaps, free of government regulation.[sup]
[13][/sup]
2008
Nobel Laureatein Economics
Paul Krugman, an ardent critic of the Bush administration, has calledGramm "the high priest of deregulation" and has listed him as the number two person responsible for the
economic crisis of 2008 behind only
Alan Greenspan.[sup]
[14][/sup][sup]
[15][/sup]
On October 14, 2008,
CNN ranked Gramm number seven in its list of the 10 individuals mostresponsible for the current economic crisis