What is "Foreclosure Phil Gramm's legacy?

Question

Phil Gramm helped to engineer the current mortgage crisis. And now he has the temerity, the gall, to denigrate the American taxpayer?

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'Foreclosure Phil' Gramm: How John McCain's Closest Economic Advisor Helped Engineer the Mortgage Crisis

Posted by Democracy Now!, Democracy Now! at 12:37 PM on July 9, 2008.

Journalists Nomi Prins and David Corn discuss the housing crisis and its link to the lobbyist writing McCain's economic policy.

"Who’s to blame for the biggest financial catastrophe of our time? There are plenty of culprits, but one candidate for lead perp is former Sen. Phil Gramm. Eight years ago, as part of a decades-long anti-regulatory crusade, Gramm pulled a sly legislative maneuver that greased the way to the multibillion-dollar subprime meltdown. Yet has Gramm been banished from the corridors of power? Reviled as the villain who bankrupted Middle America? Hardly. Now a well-paid executive at a Swiss bank, ..."

Answer 1

Exactly how was Phil; Gramm involved?  Clinton and his administration mandated the loan companies to give loans to low income people.  The problem was not deregulation.  On the contrary.  THe government required the companies to make these loans.

That is all part of the dems "helping out" poor people, while the mean evil republicans "dont care."  And yet, despite the facts, they still throw out baseless accusations about republicans that people like you believe.

to morlock - YES!  He stood alone on that one at first, and I will always remember him fondly for that too.

Answer 2

His legacy will have nothing to do with mortgages.  It will be that he spearheaded the successful effort to stop Hillary-care in its tracks in the early 90's.

Answer 3

Gramm is/was terrible on a number of issues. Another Texan who doesn't give a d**n about America or Americans.