What does Phil Gramm, McCains econ advisor, have to do with the credit crisis?

[JohnWxy]

Phil Gramm, a major proponent of deregulation of markets, was the sponsor of the Commodities Futures Modernization Act which could only be passed by sneaking it in as a rider to an omnibus funding bill (11,000 pages long).



PNBS's News Hour's Solman "explains" current credit crisis WITHOUT MENTIONING THE WORD "DEREGULATION"

[soothsayer]

1. He's on the board (maybe chairman?) of a major Swiss bank, which is

prolly why they're begging for the bailout to throw money at foreign banks (bank suisse maybe?)

[soothsayer]

2. He's on the board (maybe chairman?) of a major Swiss bank, which is

prolly why they're begging for the bailout to throw money at foreign banks (bank suisse maybe?)