Thursday, 29 May 2008

McCain Ignorant of Economy - Advisors Even Worse

John McCain has famously stated that he himself doesn't actually know very much about economic issues. By implication, however, he's liked to suggest that his advisors in this area can make up for this (rather significant) deficit.

Well, as it turns out his most prominent economic advisor - former Senator Phil Gramm - may be worse than merely ignorant. It's now emerged that Gramm not only played an instrumental role in bringing about the regulatory loosening that directly helped to create the current Sub Prime Mortgate crisis, but immediately upon leaving office he took a job as a paid lobbyist for the bank UBS, which was also a huge contributor to the crisis.

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