Watching CSPAN’s Washington Journal this morning, and the call-in portion (which seems to have been extended) is asking if we are “A Nation of Whiners, based on Phil Gramm’s statement own whine yesterday (which the Moonie-owned Washington Times did not print).
From an online article published Wednesday by the Washington Times after an editorial board meeting with former senator Phil Gramm (R-Tex.), an adviser to Sen. John McCain’s presidential campaign. The “mental recession” and “nation of whiners” quotes did not appear in the print edition of the Times:
As I’ve noted before, Phil Gramm, in his capacity as former senator, was one of the early architects of the current credit crisis. Hundreds of thousands of people that have been decimated financially by loss of jobs followed by foreclosure of their homes. So, it’’s important to note that when the people that have been harmed by the current economy, that was spurred by Phil Gramm’s legislative blunders, they get little help. When Bear Stearns cries, the Fed bails them out.
McLame is finding himself in a pickle right now. The economy sucks and Foreclosure Phil™ has shown his total disconnect ith reality in his statements, which he states he will not retract and has no regrets saying.
Gramm, who has helped shape McCain’s presidential campaign and is a close friend of the candidate, expressed no regret on Thursday for the comments he made in an interview with the Washington Times, saying: “I’m not going to retract any of it. Every word I said was true.” But the McCain campaign quickly shifted into damage-control mode, distancing the candidate from his friend’s assessment.
The reason I am pointing this out, is that Foreclosure Phil™ has been slated by McShame for the position of Secretary of the Treasury. Although, based on this WaPo article that may change, but I wouldn’t bet on it.
Asked whether Gramm would play a significant role in shaping economic policy in a McCain administration, the senator joked: “I think Senator Gramm would be in serious consideration for ambassador to Belarus, although I’m not sure the citizens of Minsk would welcome that.”
But, tucked near the end, is the money quote, on the real disconnect with reality:
Gramm defended his statement, saying Thursday that the nation’s economy was initially thought to have grown by an anemic 0.6 percent in the first three months of the year. That was revised up to 0.9 percent, and again to 1 percent.
“Look, the economy is bad. It is far below what we Americans have a right to expect, but we are not in a recession,” he said. “We may or may not have one in the future, but based on the data, we are not in a recession. But that does not mean all this talk does not have a psychological impact.”
Of course, the answer to that all depends on who you ask. Some say yes and others continue to be deniers.
Many of the folks that have lost their jobs put some of the blame on NAFTA. So, in closing, Matt Stoller notes Obama’s position on NAFTA (tucked in with other reasons why Obama is NOT a liberal).
I think you can probably blame Phil and Wendy Gramm for most of the current economic problems we face. Just about the only things we can’t blame them for are the Iraq War and the federal budget deficit.
Lax food safety standards? Enron? Oil speculators? Blame Wendy. Banking mega-conglomerates with loose oversight? Blame Phil.
Now there’s a Political Power Couple! And unlike the Clintons, they can go out in public without a Secret Service entourage and a ton of reporters.
[...] Phil. Gramm that is. And his little Wendy too. Remember, this is the guy that McCain looks to for economic [...]
What worries me about the Phil Gramms of this country is their total disdain for public sentiment. I really believe that the more we voice our concerns, (or in their minds, whine or complain) or otherwise make noises, the more they dig in their heels, refuse to take us seriously, and probably take actions to make things worse just to spite us.
We are going to have one hell of a mess on our hands before all of this is done.
[...] 19, 2008 by archcrone The lefties kept pointing out his role in the credit crisis and who was REALLY whining and now we can say Good-bye to Phil Gramm as John McLame’s economic advisor. Former [...]
The repeal of Glass-Steagall is the heart and soul of the Housing debacle. The “financial industry” would have loaned to blow up dolls if they thought they could get away with it. The semi bubble was created first by tax free capital gains associated with “home ownership”, but the real accelerant was the ability to “create money” as does a bank, but without any real “down payment”, or any “margin” requirement, as would be required for speculation in securities. And you will find Gramm’s finger prints all over this repeal for sure.
[...] Which brings me to some of the issues that have had the most impact on the average person. John McSame had openly said he knows diddly about the economy. And so, in his convoluted attempt to understand economic issues, he has relied on the very person that created part of the mess we are facing right now, none other than Foreclosure Phil. [...]
[...] root of the current financial disaster, choosing to blame Fannie Mae and Freddie Mac, rather than Phil Gramm and the Gramm-Leach-Bliley [...]