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By David Armstrong and Joseph J. Trento
$16.47
E.J. Dionne
$12.89
$35
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AP/Michael S. Green
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By Robert Scheer — Where are Phil and Wendy Gramm hiding now that UBS, like Enron before it, has been nailed by the G-men?
Posted on Dec 21, 2012
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Mike Licht, NotionsCapital.com (CC BY 2.0)
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At the height of the financial crisis, The Guardian identified 25 bankers, economists, politicians and financial officials who helped bring about the worst economic crisis since the Great Depression. What are they up to now?
Posted on Aug 7, 2012
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AP/Dima Gavrysh
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By Robert Scheer — The men most responsible for the collapse of the American dream are heaped with honors at the highest levels of society.
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David Goehring (CC-BY)
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The Rolling Stone scribe has christened Tuesday’s mayor-on-mayor action, during which former New York boss Ed Koch and current Mayor Michael Bloomberg mixed it up over the financial crisis and Occupy Wall Street, Bloomberg’s “Marie Antoinette moment.” (more)
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AP / Mike Carlson
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By Robert Scheer — If a Republican were president, there would be millions of properly coiffed middle-class Democrats and independents at those Occupy Wall Street marches, and no questions asked as to what they really want.
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White House / Pete Souza
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By Robert Scheer — Barack Obama and the Democrats he led to a stunning victory two years ago are going down hard in the face of an economic crisis that he did nothing to create but which he has failed to solve.
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AP / Dean Cox
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By Robert Scheer — In recent days yet another wealthy private customer of the Swiss-based banking conglomerate UBS admitted to criminal fraud in a growing parade of perp walks that could extend into the thousands. It is a case that threatens to ensnare former Sen. Phil Gramm, the Texas Republican who is vice chairman of UBS’ investment banking business.
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reedernichols.wordpress.com
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By Robert Scheer — One wonders if Phil Gramm has been made just a tad nervous by the news on Tuesday that one of UBS’ super-wealthy private clients has pleaded guilty to tax evasion.
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AP photo / Gerald Herbert
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By Robert Scheer — Bernie Sanders, the senator from Vermont who is independent in spirit as well as party label, has placed a hold on President Obama’s nomination of Gary Gensler to head the Commodity Futures Trading Commission. Sounds like a minor issue to get worked up about, but I see this appointment as further evidence that the president has entrusted his economic policy to the wrong people.
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AP photo / J. Scott Applewhite
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By Robert Scheer — This is not change we can believe in. Not if Robert Rubin or his protégé, Lawrence Summers, get to call the shots on the economy in President-elect Barack Obama’s incoming administration.
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AP photo / Chris Carlson
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By Robert Scheer — Instead of running with the “European socialist” crowd, as John McCain has claimed, Barack Obama has turned to the same American “free market” elite that views government as merely a corporate subsidiary. Even within that group, however, there are serious splits, and the more enlightened side seems to be winning.
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AP photo / Pablo Martinez Monsivais
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By Robert Scheer — I am not a conventionally religious man, or even a very superstitious one, but I do wish George Bush would stop asking God to bless America. Every time he does, we seem to be visited with another plague, suggesting divine wrath over our president’s evil ways. How else to explain the persistent calamity that has marked this administration?
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AP photo / Henny Ray Abrams
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By Robert Scheer — How dare you throw that tea into Boston Harbor! Such is the anti-democratic arrogance of the fear-mongering pundits and politicians who tell us if we taxpayers don’t instantly give the Wall Street banking bandits a $700-billion bailout, we are destroying America.
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commons.wikimedia.org
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John McCain’s bid to put his campaign on hold in order to wing his way to Washington last week was intended to make him seem ready for action in a crisis but may have resulted in a “political dead end” for the Arizona senator after Monday’s bailout bomb, according to the Associated Press.
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AP photo / J. Scott Applewhite
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By Robert Scheer — Does it really matter which party is in charge when it comes to bailing out the Wall Street hustlers whose shenanigans have bankrupted so many ordinary folks? Not if the Democrats roll over and cede power to the former head of Goldman Sachs, the investment bank at the center of our economic meltdown.
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Turns out that having Phil Gramm on one’s economic advisory team may not be the best way to demonstrate one’s readiness to inherit the gigantic mess that the U.S. economy has become under the Bush administration’s not-so-close watch—or at least that’s what Obama’s camp is pointing out in this ad on the financial debacle.
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AP photo / Douglas Healey
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By Robert Scheer — Gag me with a spoon, as Valley girls used to say. Did you see that McCain-Palin ad promising “tougher rules on Wall Street to protect your life savings, no special interest giveaways”? Just how dumb do they think we are?
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AP photo / Matt Sayles
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In what was perhaps the most highly anticipated (and no doubt the most highly scrutinized) moment of his political career thus far, newly nominated Democratic presidential candidate Barack Obama was saddled with a huge task Thursday night, but by the end, Obama had both thrown down the gauntlet and risen to the occasion—at least in the eyes of thousands of supporters who came to see his history-making acceptance speech at Denver’s Invesco Field.
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AP photo / Jae C. Hong
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By Robert Scheer — This is a time to condemn the bankers, not to embrace them. They are the scoundrels who got us into the biggest economic mess since the Great Depression, lining their own pockets while destroying the life savings of those who trusted them.
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momocrats.typepad.com
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The backlash following Phil Gramm’s comments about the “mental recession” he believed Americans were bringing upon themselves through negative thinking has evidently caused the former Texas senator to leave his position as a top adviser to John McCain’s presidential campaign.
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AP photo / Kevork Djansezian
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By Robert Scheer — McCain campaign co-chair Phil Gramm is right: We have “become a nation of whiners.” But who is whining more than the bankers that former Sen. Gramm’s financial deregulation legislation benefited? The very bankers who now expect a government bailout, such as those at UBS Investment Bank, where Gramm found lucrative employment.
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Next thing you know, they’re going to say unicorns are real, too. On an episode of Fox News’ “Special Report” late this week, Weekly Standard Editor Fred Barnes chimed in about McCain adviser Phil Gramm’s assessment that America was on the verge of a “mental recession,” calling Gramm’s statement “straight talk.”
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momocrats.typepad.com
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According to Phil Gramm, the former senator from Texas who’s now a key economic adviser to Sen. John McCain, America’s economic woes, insofar as they actually exist, are the product of some stinking thinking by “a nation of whiners” and doom-and-gloom headlines from the U.S. media.
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