While McCain learned from this, it still proves he was part of Washington problems he says he wants to reform. I wonder what has happened to those elderly citizens since this bailout occurred.
John McCain has as his economic advisor Senator Phil Gramm and according to Think Progress are some very, very disturbing facts which calls into judgment, McCain’s judgment.
For everyone who has lost a home due to foreclosure, this is what you should know of McCain’s economic advisor who called those who complained of their economic standing “A nation of whiners”
“As recently as December 31 of last year, still working for Swiss bankers, specifically to help kill the Emergency Home Ownership And Mortgage Equity Protection Act and the Helping Families Save Their Homes and Bankruptcy Act, a bill that would have let bankruptcy judges adjust mortgages terms so American families facing foreclosure could repay their loans and keep their homes.”
This eye-opening yet sickening piece also reported of Gramm, “Gramm’s deregulation [as a senator] help set the stage for an explosion of banks slicing up subprime mortgages, bundling them with other mortgage slices, to hide the credit risks, and selling mortgage stew to other investment firms. That gave lenders powerful incentive to make as many loans as possible, regardless of risk.”
The most chilling words are a regardless of risk. We are only speaking of the financial meltdown that occurred the other day, yet there are other risks in this dangerous world. I think we as Americans have a right to question his judgment on a whole host of issues and not only this one.
In a wonderful piece called The Real American Traitors by William Rivers Pitt, you will simply be blown away as you read, “During his administration, Clinton offered legislation that would give the Treasury Secretary broad powers to ban foreign nations and banks from accessing American financial markets unless they cooperated with money-laundering investigations that would expose and terminate terrorist cash flows.” Concerning this legislation put forth by former President Clinton, Phil Gramm killed this all important piece of legislation and he even had the audacity to say, “I was right then and I am right now. The way to deal with terrorists is to hunt them down and kill them."
Yes, you kill terrorists, but you must also cut off their funding. This is also a risk factor we must all think about especially when McCain surrounds himself with advisors in Senator Phil Gramm. I would like to know if the family members left behind on 9/11 in which the terrorists could have been stopped financially would be called “whiners” by Gramm in seeking justice for them.
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