Clearly, only a crazy person would not want to ensure maintaining minimum survival needs for elderly people to the stock market. It is stable and ever-growing, and if only we'd invested the national retirement fund then the free market would have made sure that the bread lines were as comfortable as possible.
Phil Gramm should not be allowed to have a checking account let alone comment on the economy.
ReplyDeleteThe Gramm-Leach-Bliley Financial Services Modernization Act of 1999 effectively repealed the Glass-Steagall Act of 1933 and directly contributed to the sub-prime lending crisis.
Letting banks take on the role of broker AND allowing them to underwrite their own risk. Brilliant.
Tell the world: Phil Gramm put the pieces in motion for our current financial situation. McCain relies on Gramm for economic guidance.