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TexasTowelie

(111,938 posts) Tue Mar 22, 2016, 01:13 AM Mar 2016

Ted Cruz just named Phil Gramm his economic advisor. Here's Gramm's economic legacy.

15 replies

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Ted Cruz just named Phil Gramm his economic advisor. Here's Gramm's economic legacy. (Original Post) TexasTowelie Mar 2016 OP

Oh my. Iliyah Mar 2016 #1

Something we can agree on Electric Monk Mar 2016 #4

Damn Solly Mack Mar 2016 #2

Well, that figures. blue neen Mar 2016 #3

Well, Phil and Bill laid the ground for the collapse of 2008. Fuddnik Mar 2016 #5

Just research the Graham-Rudman Act. This act was the first deep cut in killing the middle class southerncrone Mar 2016 #6

The 401k came about in 1978, while hughee99 Mar 2016 #9

Not gonna change my kind about HRC Iliyah Mar 2016 #7

I'm old enough to remember when he was pushing his policies. Are_grits_groceries Mar 2016 #8

EXCUSE ME WHIILE I....... Skittles Mar 2016 #10

I was actually hoping that you TexasTowelie Mar 2016 #11

OMG TexasTowelie, Phil Gramm Skittles Mar 2016 #13

Bill Clinton and Phil Gramm best buddies Geronimoe Mar 2016 #12

And in case anyone has forgotten, Gramm's wife Wendy Ilsa Mar 2016 #14

we forget that crud is soooooo much worse than trump dembotoz Mar 2016 #15

Iliyah

(25,111 posts)

1. Oh my.

Reply to TexasTowelie (Original post)

Tue Mar 22, 2016, 01:18 AM

Mar 2016

evil

Electric Monk

(13,869 posts)

4. Something we can agree on

Reply to Iliyah (Reply #1)

Tue Mar 22, 2016, 01:27 AM

Mar 2016

As chairman of the Senate Banking Committee from 1995 through 2000, Gramm was Washington's most prominent and outspoken champion of financial deregulation. He played a leading role in writing and pushing through Congress the 1999 repeal of the Depression-era Glass-Steagall Act, which separated commercial banks from Wall Street. He also inserted a key provision into the 2000 Commodity Futures Modernization Act that exempted over-the-counter derivatives like credit-default swaps from regulation by the Commodity Futures Trading Commission. Credit-default swaps took down AIG, which has cost the U.S. $150 billion thus far.

http://content.time.com/time/specials/packages/article/0,28804,1877351_1877350_1877330,00.html

Solly Mack

(90,758 posts)

2. Damn

Reply to TexasTowelie (Original post)

Tue Mar 22, 2016, 01:19 AM

Mar 2016

blue neen

(12,319 posts)

3. Well, that figures.

Reply to TexasTowelie (Original post)

Tue Mar 22, 2016, 01:23 AM

Mar 2016

Poisoned minds think alike.

Fuddnik

(8,846 posts)

5. Well, Phil and Bill laid the ground for the collapse of 2008.

Reply to TexasTowelie (Original post)

Tue Mar 22, 2016, 01:28 AM

Mar 2016

Maybe Hillary can make him Sec of Treasury. Or her VpP.

southerncrone

(5,506 posts)

6. Just research the Graham-Rudman Act. This act was the first deep cut in killing the middle class

Reply to TexasTowelie (Original post)

Tue Mar 22, 2016, 01:29 AM

Mar 2016

by rigging the tax code in extreme favor of the wealthy. Essentially cut the upper bracket's taxes in half & spread the burden on the middle class. Took away credit interest deduction on anything except mortgages, & set up 401K retirement accounts cutting the retirement cost to corporations & forcing employees to fund their own retirement by playing the stock market w/their funds. A big win for the stock market & investment banks.
Phil Graham is a working man/woman's worst enemy!

hughee99

(16,113 posts)

9. The 401k came about in 1978, while

Reply to southerncrone (Reply #6)

Tue Mar 22, 2016, 01:49 AM

Mar 2016

Gramm-rudman-hollings was passed in 1985. Gramm wasn't even in congress in 1978.

Iliyah

(25,111 posts)

7. Not gonna change my kind about HRC

Reply to TexasTowelie (Original post)

Tue Mar 22, 2016, 01:42 AM

Mar 2016

I'll advise to say positive stuff about BS. Carry on.

Are_grits_groceries

(17,111 posts)

8. I'm old enough to remember when he was pushing his policies.

Reply to TexasTowelie (Original post)

Tue Mar 22, 2016, 01:47 AM

Mar 2016

Hated him them. Hate him more now.

Skittles

(153,111 posts)

10. EXCUSE ME WHIILE I.......

Reply to TexasTowelie (Original post)

Tue Mar 22, 2016, 01:55 AM

Mar 2016

TexasTowelie

(111,938 posts)

11. I was actually hoping that you

Reply to Skittles (Reply #10)

Tue Mar 22, 2016, 02:05 AM

Mar 2016

were going to schedule him (either Cruz or Gramm) for an ass-kicking, yes indeed!

Skittles

(153,111 posts)

13. OMG TexasTowelie, Phil Gramm

Reply to TexasTowelie (Reply #11)

Tue Mar 22, 2016, 04:53 AM

Mar 2016

I don't think I could stop retching long enough to complete the task!

Geronimoe

(1,539 posts)

12. Bill Clinton and Phil Gramm best buddies

Reply to TexasTowelie (Original post)

Tue Mar 22, 2016, 02:52 AM

Mar 2016

Currently Phil Gramm is Vice Chairman of USB Bank, Bill Clinton and G.W. Bush are Presidents of same.

http://financialservicesinc.ubs.com/revitalizingamerica/SenatorPhilGramm.html

One of the reasons, I'm not voting for Hillary.

Ilsa

(61,690 posts)

14. And in case anyone has forgotten, Gramm's wife Wendy

Reply to TexasTowelie (Original post)

Tue Mar 22, 2016, 06:16 AM

Mar 2016

was on the Board, and I believe Accounting Committee, for ENRON before it failed.

dembotoz

(16,785 posts)

15. we forget that crud is soooooo much worse than trump

Reply to TexasTowelie (Original post)

Tue Mar 22, 2016, 08:02 AM

Mar 2016

yeah trump is this and trump is that

crud is just dangerous

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