Should McCain and Phil Gramm take any of the blame for the current financial crisis?

In that McCain was chairman of the Commerce Commission and Gramm was chairman of the banking commission and both spearheaded deregulation.



Yes- they certainly have experience!Should McCain and Phil Gramm take any of the blame for the current financial crisis?Should Obama and Biden take any of the blame...Biden has been in the Senate longer than McCain...Should McCain and Phil Gramm take any of the blame for the current financial crisis?
So out of 535 members of Congress...it's all McCain's fault? What a typically moronic liberal comment.

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Should McCain and Phil Gramm take any of the blame for the current financial crisis?nope, blame Pelosi
That's ancient history. In 2005 JOHN McCAIN proposed a bill to regulate Freddie Mac and Fannie Mae because of the financial dangers they presented to the American public. Guess who blocked that bill! The Dems!







Obama's top economic advisors have ties to Fannie Mae, Freddie Mac, AND Lehman Brothers -- all asked for help from the Feds this weekend. Also has a tie to Countrywide, who was in the news this past spring for the same reason!



Jim Johnson, who is currently Barack Obama's economic advisor, was not only CEO and Vice Chairman of Fannie Me, he was also a managing director at Lehman Brothers.



On May 22, 2008, Democratic Party officials confidentially divulged that Obama had asked Johnson "to lead the process" for selecting Obama's running mate. However, Johnson soon became a source of controversy when it was reported that he had received below market rates loans directly from Angelo Mozilo, the CEO of Countrywide . Property records show Mr. Johnson has received more than $7 million in loans from Countrywide since 1998, the first coming in the waning days of his Fannie Mae tenure. [ http://online.wsj.com/article/SB12127997鈥?/a> ]





Franklin Raines was CEO of Fannie Mae 1999 to 2004. Mr. Raines also is currently Barack Obama's economic advisor and has not yet been forced to resign. He is accused by The Office of Federal Housing Enterprise Oversight (OFHEO), the regulating body of Fannie Mae, of abetting widespread accounting errors, which included the shifting of losses so senior executives, such as himself, could earn large bonuses. Raines was sued for wrongdoing but was able to settle. An editorial in The Wall Street Journal called it a "paltry settlement" which allowed Raines and the other two executives to "keep the bulk of their riches." In 2003 alone, Raines's compensation was over $20 million. [ http://online.wsj.com/article/SB10977075鈥?/a> ].





Raines *also* has ties with Countrywide. In June 2008 Wall Street Journal reported that Franklin Raines was one of several politicians who received below market rates loans at Countrywide Financial because the corporation considered the officeholders "FOA's"--"Friends of Angelo" (Countrywide Chief Executive Angelo Mozilo). He received loans for over $3 million while CEO of Fannie Mae. [ http://online.wsj.com/article/SB12127997鈥?/a> ]



Anyone else see the connections here?



Doesn't it seem awfully convenient that these institutions are asking for help now?



Anyone else believe that these debacles are being timed for the benefit of Obama?







Should McCain and Phil Gramm take any of the blame for the current financial crisis?Most of the blame belongs at their feet. They're the deregulators who created anarchy on Wall St.Should McCain and Phil Gramm take any of the blame for the current financial crisis?
Those two certainly would be a good place to start. McCain was against deregulation in all forms until the current financial crisis, and he learned from the master of dereg, former Texas Senator ("we've become a nation of whiners") Phil Gramm.
They should take the lions share of blame although the rest of the House, Senate, and even Clinton (who signed the bill) should accept some of the blame.

Should McCain and Phil Gramm take any of the blame for the current financial crisis?
Well, yes! They were the ones who were very de-regulatory.

And maybe you should look up Keating 5. McCain took regulators into his office and told them to not regulate! This is the S%26amp;L scandal that also happened to involve 2 Bush's.
Wrong Commission for what you are trying to imply



Keep up the good work in doing your part to make sure NObama never gets elected.
I blame Wall Street, the Dems that voted against regulating these companies, allowing them to give loans to people they knew couldn't afford it, I blame the individual that requested the loans they knew they couldn't afford.