Former Sen. Phil ‘Mental Recession’ Gramm Endorses His ‘Protege’ Rick Perry

[ProSense]

Former Sen. Phil ‘Mental Recession’ Gramm Endorses His ‘Protege’ Rick Perry

By Pat Garofalo

Texas Gov. Rick Perry (R) yesterday jumped in the 2012 GOP presidential primary, saying that “it is time to get America working again.” “I will work every day to make Washington, DC, as inconsequential in your lives as I can, and free our families, small businesses and states from a burdensome and costly federal government so they can create, innovate and succeed,” he said. And Perry quickly picked up the endorsement of former Sen. Phil Gramm (R-TX):

Former senator and current banker Phil Gramm of Texas — well-connected to big donors but controversial for his role in preventing tighter regulation of Wall Street — told The Huffington Post yesterday that he is endorsing his former student and political protege, Texas Gov. Rick Perry...”I’m for Rick and I will do what I can to help,” Gramm said in an interview in Detroit. “He has been an effective governor. He is a determined guy from a small town who knows how to get things done.”

In 2008, Gramm, who was advising Sen. John McCain’s (R-AZ) presidential campaign (and was floated as McCain’s choice for Treasury Secretary) gained notoriety for saying that the country was “a nation of whiners” that was only in a “mental recession.”

But Gramm’s legacy goes much deeper than that. In 2001, he tucked the Commodity Futures Modernization Act into an unrelated, 11,000 page appropriations bill. That act ensured that the huge market in over-the-counter derivatives stayed unregulated, laying the groundwork for the 2008 financial crisis (and the implosions of AIG and Lehman Brothers). He also believes there should be no minimum wage and has derided the working poor by saying, “we’re the only nation in the world where all our poor people are fat.”

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[ananda]

1. Phil Gramm is/was such a weasel.

nt

[SpiralHawk]

2. One can only speculate on the impact this will have on the gerbil vote

[TheCowsCameHome]

3. He looks like Jiminy Cricket on a bad trip

I can't stand that prick.

[Turbineguy]

4. So what does Rick Perry have

that the Father of the 2008 Economic Collapse likes?

[Faygo Kid]

5. *Shudder* It will be Perry as the nominee. The Rove/Gramm power structure is coming together.

They have decided that Romney can't make it, despite his wish to kiss their asses (sorry, true). Perry is their guy, and he is the nominee. Period.

Not sure about the Veep nominee. Maybe Palin, but I'm unsure.

Mark it down: Perry is the GOP pick.

[elleng]

7. Bad news, but does rover 'like' perry?

Thought bushies don't; may not be important.

So gramm knows perry's dumb enough to give us more of the destruction he wants.

:thumbsdown:

[Armstead]

6. Oh please GOP give people like Gramm a high profile. And please Dems go after them

If there is anyone who epitomizes corruption and the results of a failed ideology (at least for average folks) it is Phil Gramm.

Anyone tempted to feel Obama fatigue will quickly get over it if the past escapades and awfulness and bad results from people like Gramm are associated with the GOP.

[KOfan]

8. He is still alive?

Great, their pulling out zombies for support! LMAO!