Gramm steps aside to end “distraction”

posted at 8:25 pm on July 18, 2008 by Ed Morrissey

Phil Gramm has released a statement this evening resigning his position as co-chair of John McCain’s campaign.  Here’s the text, which will give only a veiled look at the attacks he’s received — one fair, and another silly:

“It is clear to me that Democrats want to attack me rather than debate Senator McCain on important economic issues facing the country. That kind of distraction hurts not only Senator McCain’s ability to present concrete programs to deal with the country’s problems, it hurts the country. To end this distraction and get on with the real debate, I hereby step down as Co-Chair of the McCain Campaign and join the growing number of rank-and-file McCain supporters.”

Two issues arose to prompt this resignation. The first was mostly self-inflicted. Gramm made the mistake of offering a liitle too much straight talk when assessing the American economy.  He noted — correctly — that we have not had even a single quarter of contraction in GDP yet, and that the economy had not gone into a recession.  However, as is his wont, Gramm overshot and accused people of having a “mental recession”, which again is mostly true but hardly good politics.  John McCain had to offer the usual if-one-person-is-out-of-work-we-must-feel-their-pain response to calm the waters, even though when talking about a national economy, anecdotes do not equal data points.

The second issue has been bouncing around the Leftosphere for a few days.  Gramm invested $15,000 in some cheesy soft-core porn film … in 1973.  Apparently he lost the investment in a poorly-timed anti-Nixon romp (no, really!), and as far as anyone knows, that was his last venture in the industry.  For some reason, the same people who would defend the right of porn producers to make and market their films consider this a central issue to an election campaign 35 years later, in which Gramm himself isn’t running for anything.

Hey, wasn’t it just 28 years ago that Barack Obama smoked dope?  Wouldn’t that be more germane than this?  At least we’d be talking about the candidate.  I myself think it’s a dumb topic and a non-issue — but smoking dope was at least illegal.

Anyway, Gramm’s out now, and the Leftosphere can go back to defending porn rather than acting like the Church Lady over a 35-year-old investment.  Or maybe they can continue talking about a 22-year-old joke.  Anything to keep distractions from entering the campaign ….


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I’ll miss ole turtle head.

lorien1973 on July 18, 2008 at 8:29 PM

And McCain dumped his first wife umpteen years ago, but people can change. I won’t hold Gramm’s porn or BO’s dope against them either.

jgapinoy on July 18, 2008 at 8:30 PM

Good points made Ed. They don’t give a rats ass about Obama’s past (hey that rhymes) … but if a Republican did something stupid 35 years ago it becomes an AH-HAA.

ORrighty on July 18, 2008 at 8:33 PM

invested $15,000 in some cheesy soft-core porn film … in 1973

.

Boom!-shak-a-lak-a-laka!

Limerick on July 18, 2008 at 8:37 PM

The title of the ill-fated porn flick, ironically, was “Mental Recession Does Dallas“.

McCain needs someone a little more vigor in his campaign, not a Philip K. Dick-ian tortoise with X-rated baggage and loose lips.

profitsbeard on July 18, 2008 at 8:40 PM

35 years ago. Unbelievable.

Terrye on July 18, 2008 at 8:40 PM

I wonder when the GOP will figure out that in politics, Democrats will bring guns to pillow fights………….?

Seven Percent Solution on July 18, 2008 at 8:41 PM

And McCain dumped his first wife umpteen years ago, but people can change. I won’t hold Gramm’s porn or BO’s dope against them either.

jgapinoy on July 18, 2008 at 8:30 PM

You and alphie are obsessed by a fallacy. By the time he came home the lady was in agreement that they get a divorce. It was mutual, and they remained friends. She will support him for president and has never affirmed the stupid claim the two of you persist on, along with other ignorant people. Focus on what’s real – there’s plenty of that.

Entelechy on July 18, 2008 at 8:43 PM

Gee, by focusing on all these distractions, the Dems certainly aren’t helping Michelle’s children.

rbj on July 18, 2008 at 8:43 PM

Entelechy

I said I wouldn’t hold it against him–distant past. But if what you say is true, there’s not much to hold against him anyway.
Learn somethin’ every day.

jgapinoy on July 18, 2008 at 8:46 PM

Nuance!

wise_man on July 18, 2008 at 8:50 PM

I for one don’t mind that Obammy smoked dope I do mind that he is a dope!
57 states not counting Alaska nad Hawaii?

dhunter on July 18, 2008 at 8:53 PM

Porn? Phil Gramm financed porn films? Um… That’s a strange concept. Well, it is a big business and unlike many other lucrative products, it’s legal. Still strange…

Jill1066 on July 18, 2008 at 8:54 PM

Did they even have Top Loaders in 73? (I was overseas so I dunno). Or are we talking Super 8 here?

Limerick on July 18, 2008 at 8:56 PM

It must be Friday.

Mark1971 on July 18, 2008 at 8:57 PM

I wonder when the GOP will figure out that in politics, Democrats will bring guns to pillow fights………….?
Seven Percent Solution on July 18, 2008 at 8:41 PM

I don’t know about the GOP in general, but it’s pretty clear when Presidential Candidate McCain will figure it out: Way too late.

McCain threw Phil Gramm under the bus over this kind of nonsense. So he assumes the liberal media will start sucking up to him just like they did every time he kicked conservatives in the balls before…

Only that’s not going to work anymore. As long as McCain is one iota to the right of Barak Obama, the liberal media will attack him exactly as rabidly as if he were the most conservative candidate in the world.

logis on July 18, 2008 at 8:58 PM

I miss Church Lady.

Seixon on July 18, 2008 at 9:04 PM

Apparently he lost the investment in a poorly-timed anti-Nixon romp (no, really!), and as far as anyone knows, that was his last venture in the industry.

It’s rumored that Larry Craig played the bathroom attendant.

Cicero43 on July 18, 2008 at 9:08 PM

How long before Dems start burning books on economics 101?

Kini on July 18, 2008 at 9:08 PM

logis on July 18, 2008 at 8:58 PM

………. then this is something WE need to change!

Seven Percent Solution on July 18, 2008 at 9:14 PM

Poor dirty old bastard… at least by leaving the campaign he can spend more time enjoying his personal “film” collection. Or perhaps he should do some investing since the economy is so good.

bayam on July 18, 2008 at 9:17 PM

“It is clear to me that Democrats want to attack me

What a whiner.

MB4 on July 18, 2008 at 9:22 PM

How long before Dems start burning books on economics 101

Tell me about it. Bush has racked up about $10,000 in national debt per US citizen. The country has virtually had a never-ending stimulus package since the day Bush started cutting taxes and spending like nuts. Go to the upper end of Manhattan and look for a recession- real estate has never been more expensive for the nation’s elite and Bulgari watches are flying off the shelves. What recession?

Anyway, back to the national debt. Why stop a good thing just when it’s getting started? I’m all for national debt $20 trillion. We can do it. Go tax cuts.

bayam on July 18, 2008 at 9:23 PM

. He noted — correctly — that we have not had even a single quarter of contraction in GDP yet, and that the economy had not gone into a recession.

Anyone who isn’t at least a little “paranoid” about the economy simply isn’t paying attention!

MB4 on July 18, 2008 at 9:24 PM

. He noted — correctly — that we have not had even a single quarter of contraction in GDP yet, and that the economy had not gone into a recession.

While the Securities and Exchange Commission was swatting flies, Chairman Bernanke turned up on Capitol Hill today to tell Congress that he was one confused man. That was the gist of a presentation in which he was able to do little more than point out the dangers of a collapsing economy and growing inflation.

As he was speaking, General Motors was telling its employees and its stockholders that more layoffs, huge salary cuts and no more dividends were in their immediate future. At the same time the dollar drank the shrinking potion from Alice in Wonderland and set a new record for weakness against the euro.

The American economy has not been in such serious trouble in seventy-five years. You cannot expect government officials to say that, however. Commerce, like religion, depends on faith. That Paulson would present a plan that contradicts everything he has stood for as a businessman and a Republican demonstrates what he actually thinks.

Things are going to get worse, and people know it. Panic, fear and worry about jobs, savings, debts and bills are on the minds of millions. Unemployment will grow, incomes will continue to shrink and prices grow higher as more companies head for bankruptcy court.

The Paulson plan, like the Bernanke plans that preceded it, is not tough enough, not close enough to the bone to make a telling difference. His is a temporizing attempt to prop up the unproppable. There is too much rot in these financial institutions. They will have to be allowed to fail and be reorganized in the process of which a lot of people will, in Wall Street parlance, take a major haircut.
- Nicholas von Hoffman

MB4 on July 18, 2008 at 9:26 PM

Good points made Ed. They don’t give a rats ass about Obama’s past (hey that rhymes) … but if a Republican did something stupid 35 years ago it becomes an AH-HAA.

yeah but thanks to people like GWBush and “it’s all in our head” Gramm … who needs to go back 35 years!

Monkei on July 18, 2008 at 9:45 PM

I never cared for Phil Gramm anyway. Good riddance to a rather unpleasant fellow with zero personality.

Hilts on July 18, 2008 at 10:23 PM

Gramm invested $15,000 in some cheesy soft-core porn film … in 1973.

Note: Phil Gramm was a DEMOCRAT at the time. He switched parties in 1983. Heh.

aero on July 18, 2008 at 10:25 PM

Great in ’08, we can still laugh, I think…

Entelechy on July 18, 2008 at 10:45 PM

Gawd Dam America!

RushBaby on July 18, 2008 at 10:48 PM

Ed,

I’m telling you all, this is not a good road to go down. This “no recession” talk because of GDP numbers is not a fight the reps should be having. It makes the entire republician party look out of touch. There are millions and millions of everyday family’s facing a cut in their standard of living.
That is a recession to them. when you have to cut back spending, cancel some services to fill your tank and your belly that is a family recession.

The american people do not equate the GDP numbers to a recession they use their own checkbooks and family budgets. When they have to cut back to make ends meet. then it is a recession.

If the republician party continues on this attack they will lose votes and the election.

Just announce that parts of the economy are doing good and parts are in a recession, let the people decide in which camp they are in.
The arguement of “not in a recession” when millions of americians can see that things can; if not handled propertly lea,d to a depression is the height of stupidity.
If the republicans insist on continuing this line of attack they will be painted as elite snobs out of touch with working families.

Gramm needed to go. What he said was indefensible. It was stupid, it was elitists, and it was a distraction. Another couple of comments like Gramm by the republicians and its game over.

Take a page out of the clinton handbook and “feel their pain” compassion goes along way when asking for votes. Telling people to “suck it up” , “quit whinning” , “man up” etc is not the way to win votes when voters are “concerned” about their future standard of living.

unseen on July 18, 2008 at 11:19 PM

unseen on July 18, 2008 at 11:19 PM

Listen to this man on the economy. He sees, and unlike Gramm, he observes.

MB4 on July 18, 2008 at 11:24 PM

unseen on July 18, 2008 at 11:19 PM

Right as usual.

RushBaby on July 18, 2008 at 11:27 PM

He was right though – we are a bunch of whiners – this is much ado about nothing.

HawaiiLwyr on July 18, 2008 at 11:36 PM

unseen is right, as far as the voters are concerned, but HawaiiLwyr is right – our parents and especially our grandparents would be ashamed of the wussified whiners we’ve become.

I have enumerated in the past what a wonderful standard of living people have today, greater than at any other time, and all we get is the socilized “the government needs to take care of poor me”. I’m sick of this European attitude because it makes us like them, like all others, and no longer distint. It’s over, and it’s a shame. American individualism is pretty much dead.

Yes, in order to win, the lefties and the righties have to hold hands, “feel the pain” of every ‘helpless’ Joe and Marry, and then the same arsholes complain when the new president can’t fulfill every single whim they have.

The country deserves its leaders, the whores are us!!!

Entelechy on July 18, 2008 at 11:44 PM

and all we get is the socilized “the government needs to take care of poor me”.

Entelechy on July 18, 2008 at 11:44 PM

Most of that now days is coming from the financial “houses”. They want capitalism when their gambling wins and socialism when their gambling lose. Heads they win, tails we lose.

MB4 on July 19, 2008 at 12:04 AM

have enumerated in the past what a wonderful standard of living people have today, greater than at any other time
Entelechy on July 18, 2008 at 11:44 PM

So because we have a wonderful standard of living we should be ok to lose that standard of living. Saying since we are not poor we should be grateful is just nuts. Wealth is relative. We do not compare ourselves with poor people in bangladash. We compare ourselves with our parents, neighbors and grandparents. We expect our children to have a better standard of living then us. To say that that expection when not met is “unreasonable or a mental condition” is to backhand the entire American dream.

there are plenty of free market ways to grow the economy. It does not have to be socialistic in nature. Tax cuts, deregulation, governmental policies that promote energy security, new technologies, tariffs that protect our workers. All are non socialists ways the government can promote our economic well being.

The republican mind that reaches for free handouts is a weak thinker. Bush and his stimulus package was a quasi stupid idea, it didn’t solve any problems and just promoted more but it did give the economy time to heal itself. It didn’t heal but it was worth the effort. Bush should have fought for spending cuts and for tax cuts so that American can save $600.00 every year. The farm bill was another missed oppurtunity. The government should have included incentives to produce not conserve. They should have stopped the payments to large corparations and encourged the growth of small family farms.

Non of these wants is “whinning” It is the expectation that our governmebnt should encourge our economic prosperity as well as big businesses but before forgien governments.

Why is the amrician worker second class compared to mexician illegal labor? Why is Japanesses and china goods given better treatment then US goods?

why our 5 illegal murders given a better trial and more chances than avg Americian citizens?

None of this is whinning. This is expecting OUR GOVERNMENT to put the INTEREST of AMERICA and AMERICIAN CITIZENS before all others. That includes before international companies that use our laws and rules and trade policies to harm the citizens of this country to further their profit margin.

If we do not reign in these abuses then socialism will have its foot not only in the door but on the gravestone of capitalism.

unseen on July 19, 2008 at 12:05 AM

unseen, you are one of my favorites on HA. We agree almost on every word you wrote, not only today, not only here on this thread.

So because we have a wonderful standard of living we should be ok to lose that standard of living.

By all means I never did say that, nor do I think that you implied that. Nothing saddens me more than to watch what our country is going through now, and to observe with open eyes its near voluntary demise being orchestrated by our politicians, who’re representing us. Therefore, we are to blame. We are the political whores. That’s my main complaint. I am totally with you, verbatim almost.

Entelechy on July 19, 2008 at 12:17 AM

the government needs to take care of poor me”. I’m sick of this European attitude because it makes us like them, like all others, and no longer distint. It’s over, and it’s a shame. American individualism is pretty much dead.
Entelechy on July 18, 2008 at 11:44 PM

the mistake that an activist government needs to be a socialist government is a great cause of concern. Reagan was an activist president. He activily decreased taxes, decreased regulation, increased trade, activily rebuilt the army etc. You can be an activist for free makets, increased economic security, economic output, increased wages, better international fairness in trade policies without becoming a socialist government.

The best governments from the founding of governments as always been those that mix capitalism and socialism with socialism being the minority ingredient. Over the last 20 years Socialism as again crept into the system and has gained too much power feeding on itself. Bush’s quest to outspend LBJ, Clinton’s quest to expand governmental power and the first Bush’s abondedment of Reagan principles have all made things worse.

It was the government trying to increase homeownership that caused the subprime mess, the government restricting energy supplies in the name of environometalism and tourism that has caused the oil mess etc.

The governmennt need to concentrate on its core responsibilites, get rid of the corupption in its ranks and remember that its duty is to protect the citizens of the US.

protect does not mean “nanny-state”

unseen on July 19, 2008 at 12:19 AM

unseen, forgot to tell you that on economic threads you’re the one to look for, always. Thanks for your wonderfully comprehensive, and spot on, contributions.

Entelechy on July 19, 2008 at 12:21 AM

unseen on July 19, 2008 at 12:19 AM

Again, if that’s what government would busy itself with, I’d be on board. Alas, I don’t think that’s what’s ahead of us, from both contenders for the top job. It’s really very alarming, and we better be vigilant.

Entelechy on July 19, 2008 at 12:26 AM

unseen on July 19, 2008 at 12:05 AM

Unseen and Entelechy. I have this mental picture of the two of you standing cold and chilly side by side in the cemetery, the knowing and the understanding side by side, never touching, but forever linked together. And me sort of fluttering in the grass at your feet.

RushBaby on July 19, 2008 at 12:29 AM

By all means I never did say that, nor do I think that you implied that.
I know that is not what you said. I was trying to explain what the avg american think when they hear “nation of whinners” coming from the Repubs. sorry if I wasn’t clear.

Therefore, we are to blame. We are the political whores. That’s my main complaint. I am totally with you, verbatim almost.
Entelechy on July 19, 2008 at 12:17 AM

Are we? We faithfully elect our leaders when the election comes, there are numerous PAC’s, petiton to redress our grievences etc that try to keep our leaders on the right track.
But it is our leaders that activily try to increase their power, that stack the courts with political hacks, that increase their spending power by unrestrained borrowing when the will of the voters say no to
it.
It is our leaders that gerrymander the entire country to ensure polictical power and 98% encumbence and when the voters fight it their political hacks in the courts side with the government.

It is very hard to vote someone out of power when they have no competition or they are the only name on the ballot.

So is it the voters or the leaders that are held responsible.

It is my believe that the voters having tried for decades to change the government peacefully are running short of alternitives and we are coming to a point in history were we must decide to except the status quo and “nobility” class in our mist or take other action.

The power as gone from the hands “of the people” into the hands of “the rich and powerful”

If this is not changed I see shades of the french revolution coming. It will not be a 1776 moment. It will be savage, bloody and revengful.

unseen on July 19, 2008 at 12:31 AM

Again, if that’s what government would busy itself with, I’d be on board. Alas, I don’t think that’s what’s ahead of us, from both contenders for the top job. It’s really very alarming, and we better be vigilant.

Entelechy on July 19, 2008 at 12:26 AM

yes it is worrying. I too am worried. The reflexive “no bailout group” is making it worse IMO. The history of this country and humans is that during hard economic times despots emerge, or governments take more power “to help the poor” etc. It is my believe that limited bailouts are better then complete economic collapse and the resulting power grap by the federal government.

If the repubs would show a different way, one like a mentioned above I think McCain would win in a landslide. the majority of American’s don’t what their hands held they simple want a fair shake and the possibliy of equal treatment. If that fair shake is not there and the deck is stacked against them to a degree that they have no control then they will enmass turn to socialism to level the playing field.

The “all free markets group” runs the risk of the same thing happening.

unseen on July 19, 2008 at 12:42 AM

time for sleep. It’s been fun as usual.

unseen on July 19, 2008 at 12:48 AM

unseen on July 19, 2008 at 12:31 AM

I agree only in part because most constituents believe their representative is good, and all others are bad, thus not throwing them out, when they should. I do agree with you that the polititions, on both sides, run amock, are elitist, and don’t do what they promise when they run.

I also agree on that “revolution”, if they don’t learn a lesson soon, given their 9 percent ratings.

RushBaby, your imagination is rich :) Hugs to you, and lots of fondness.

unseen, do you have a French background? Thanks for your exchange and have a good night. With best regards,

Entelechy on July 19, 2008 at 12:54 AM

Anyway, back to the national debt. Why stop a good thing just when it’s getting started? I’m all for national debt $20 trillion. We can do it. Go tax cuts.

bayam on July 18, 2008 at 9:23 PM

You do realize we’ve had record tax revenue collected since the tax rates have been cut, right?

It’s not the tax cuts that are creating the deficit- it’s the runaway spending.

cs89 on July 19, 2008 at 1:26 AM

As to Gramm, he did what he had to do by getting out of the way. Unfortunately, “the public” sometimes cannot abide the truth. I still remember the time I told a friend’s dad that “most Americans are overpaid and just don’t realize it…” and then learned he was the union shop steward at his job. Not pretty.

cs89 on July 19, 2008 at 1:29 AM

And McCain dumped his first wife umpteen years ago, but people can change. I won’t hold Gramm’s porn or BO’s dope against them either.

jgapinoy on July 18, 2008 at 8:30 PM

Neither will we mention his wife’s participation in the Enron scandal…

DfDeportation on July 19, 2008 at 2:03 AM

If this is not changed I see shades of the french revolution coming. It will not be a 1776 moment. It will be savage, bloody and revengful.

unseen on July 19, 2008 at 12:31 AM

I know the gutter and I know the stink of the street
Kicked like a dog, I have spat out the bile of defeat
All you beauties who towered above me
You who gave me the smack of your rod
Now I give you the gutter
I give you the judgment of God!

MB4 on July 19, 2008 at 2:21 AM

The reflexive “no bailout group” is making it worse IMO. It is my believe that limited bailouts are better then complete economic collapse and the resulting power grap by the federal government.

Some of these house-of-cards finacial “houses” are wanting some pretty big bailouts though, with probably only the tip-of-the-iceberg showing yet.

The “all free markets group” runs the risk of the same thing happening.

unseen on July 19, 2008 at 12:42 AM

The “free markets” when it’s to their advance, when they are winning at gambling, but run to government when that suits them, when they lose at gambling, are the ones that “turn me off” the most. Some of then need to go under as rotted otherwise they will just be at it all again.

MB4 on July 19, 2008 at 2:36 AM

unseen and entelechy: best contributions to the debate evah! You have clear-eyed common sense.

onlineanalyst on July 19, 2008 at 5:03 AM

McCain threw Phil Gramm under the bus over this kind of nonsense. So he assumes the liberal media will start sucking up to him just like they did every time he kicked conservatives in the balls before…

Only that’s not going to work anymore. As long as McCain is one iota to the right of Barak Obama, the liberal media will attack him exactly as rabidly as if he were the most conservative candidate in the world.

logis on July 18, 2008 at 8:58 PM

Sad but true. McCain still seems to believe that his road to the White House should be paved by the bodies of other(?) Republicans.

Cylor on July 19, 2008 at 6:10 AM

MB4 on July 19, 2008 at 2:21 AM

This sums it up better IMO:

It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness, it was the epoch of belief, it was the epoch of incredulity, it was the season of Light, it was the season of Darkness, it was the spring of hope, it was the winter of despair, we had everything before us, we had nothing before us, we were all going direct to heaven, we were all going direct the other way – in short, the period was so far like the present period, that some of its noisiest authorities insisted on its being received, for good or for evil, in the superlative degree of comparison only.
Dickens….Tale of Two Cities.

unseen on July 19, 2008 at 6:47 AM

Some of these house-of-cards finacial “houses” are wanting some pretty big bailouts though, with probably only the tip-of-the-iceberg showing yet.

The “free markets” when it’s to their advance, when they are winning at gambling, but run to government when that suits them, when they lose at gambling, are the ones that “turn me off” the most. Some of then need to go under as rotted otherwise they will just be at it all again.

MB4 on July 19, 2008 at 2:36 AM

So why not bailout the underlying companies but ARREST the CEO’s for FRAUD and Loansharking.

Most of the bailouts to date can all be traced to the subprime mess. The subprime mess was caused by massive fraud and greed.

Almost all the contracts signed in the subprime mess seem to me like “loanshark” quaility paper.

The terms in those contracts are just impossible to make. It reminds me of the “rent to own stores” that charge you 4 times the price of the furniture. It is basicily a rip off. At one time in our history the government arrested loansharks and the public thought that was a common “good” to protect the unfortunate among us from these types of practices.

The answer when this first arose was for the government to force those companies to rewrite the loans without all the “loanshark” lanugage of “prepayment penalties”, ARM, addtional points, fine print, etc.

But the “free market group” said it was not the business of government to interfere in contracts. And the “no bailout crowd” said that if they were stupid enough to sign then they get what they deserve. So nothing was done.

And the problems got worse as the majority of these loans went belly up, the amount of forclosures on the market put too much supply on the market lowering EVERYONE’s property vaule. Causing massive layoffs in the construction industry whcih caused more forclosures and more supply. As the prices fell, people with their “no money down loans” decided it was better to walk away then pay 30 years on a house they were upside down on and getting in worse shape.

This caused more supply and a sharper decrease in prices.

Etc etc. Then you had the individuals “flipping homes” Lying on applications about income, residential status etc. Those people should also be arrested and charged with fruad. Just because “everyone does it” does not mean it is not a crime.

Now we are where we are at. With banks becoming insolvent, the stock market down 20%, home prices down in some places 50% fropm their highs, forclosures rising, unemployment rising etc.

If the GOvernment would have did it’s job in the first place and protected its citizens from the mafia style home loansharking and made examples of a few of the flippers then none of this would have happened.

Now we got a $300 billion bailout where the government (i.e taxpayers) will be forced to buy the worse loans from the loansharks. The CEO’s and companies that started this fraud will still get 85% of the profit and the homeowners will get the chance to keep their homes. And the taxpayer is on the hook for trillions.

The law of contracts is fine but when the contract is formed with fraud then it is IMO the governments duty to bust those contracts. The government should do the same with the credit card companies that charge 30% interest. that is a loanshark. there is no way people can ever hope to get out from under that type of interest. Those people with credit scores that need 30% interest should not have credit. Credit like driving is a privlege not a right. And it is the government’s job to protect those too stupid to know better from predators be it sexual, crimnal, or finacial.

Being stupid is not a crime, taking advantage of that stupidity is. I compare it to a sexual predator that molests “special needs kids”

unseen on July 19, 2008 at 7:15 AM

unseen, do you have a French background? Thanks for your exchange and have a good night. With best regards,

Entelechy on July 19, 2008 at 12:54 AM

No just enjoy the study of history and have always been interested in why the American revolution of 1776 ended the way it did and why the french revolution ended the way it did. I’m sure distance from the crown had something to do with it but it always seemed one was done for redress and the other fro revenge.

It is interesting how humans respond to circumstances and the actions preceding them impact the final outcome.

As far as most people like their Congress critter. I would have to say some of that is true. However, I think most people “don’t know” what their Congress critter does in washington because of congress attempts to keep it from them. The press fails in this regard.

I would love to pick up a paper before the election and read off what votes were down over the last two years.

Not get a 90% conservative rating (what does that mean anyway?)

I want to know the bills and how they voted.

Something like Richard Burr voted to let the Amensty bill through the fillibuster but voted against the final bill.

That tells me in no uncertain terms that Burr was for the bill and only voted against it when the it was clear the bill was going down to defeat.

Given the chance Burr wuld have passed the bill. I’m sure in 2010 Burr will run that he “helped” defeat the bill. And the majority of people will except this as fact and not know the full truth.

unseen on July 19, 2008 at 7:31 AM

Mr. Gramm was more than a purveyor of soft porn…

“Republican presidential candidate Sen. John McCain’s national campaign general co-chair was being paid by a Swiss bank to lobby Congress about the U.S. mortgage crisis at the same time he was advising McCain about his economic policy, federal records show.

Dose anyone recall like… DfDeportation on July 19, 2008 at 2:03 AM

“Gramm was one of five co-sponsors of the Commodity Futures Modernization Act of 2000, which critics blame for permitting the Enron scandal to occur. At the time, Gramm’s wife was on Enron’s board of directors.

It’s gets even worse than that…

“…finding out that McCain had a major subprime lender bank lobbyist [for the Swiss USB] whispering in his ear when McCain told the public that it was basically tough luck if they lost their houses?”

Ouch..! Now that really hurts!

J_Gocht on July 19, 2008 at 9:32 AM

Just another nail in the coffin of the Juan McAmnesty campaign. Heck, his campaign is so craptastic that I find myself actually considering voting for the Obamamessiah. ME! A staunch conservative!

Obamamessiah could hardly be worse than Juan, and he [BHO] is so inexperienced that he barely poses any real threat. I cannot say the same of McAmnesty.

DannoJyd on July 19, 2008 at 9:44 AM

“Curses, foiled again!” Gramm got in Gramm’s way. Gramm never wanted to put himself out if he wasn’t going to rake in the windfall. He outsmarted himself, spoiled as it were. “Rank and file”? He’s been noted to habitually hide under the lamb’s wool. So his feelings got hurt and he’s gonna retreat back to the Swiss bank vault vying still to become an untouchable.

So what, I’m being as hard nosed as he, the man who presumed to step into John Tower’s place without ever measuring up.

maverick muse on July 19, 2008 at 10:33 AM

Republicans quit too easy. Obama would have said something like…”That is not what I said in relation to the greater issues that follow our nation daily…It was meant to draw attention to the plight of those in need…It is a metaphor for the losses that have been forced upon us the last 8 years. I never said that”

Commentator…Your know he is really so bold…I think he may be right on the larger more important issue.

tomas on July 19, 2008 at 11:30 AM

Gramm never invested in porn, he said we all imagined it.

Meanwhile he did add his own info to the IMDB – that’s usually how it works:

http://www.imdb.com/name/nm1109307/

AprilOrit on July 19, 2008 at 11:34 AM

Tale of Two Cities.

unseen on July 19, 2008 at 6:47 AM

One of my favorite reads.

Being stupid is not a crime, taking advantage of that stupidity is.

unseen on July 19, 2008 at 7:15 AM

Loved it. Will use it.

…but it always seemed one was done for redress and the other fro revenge.

It is interesting how humans respond to circumstances and the actions preceding them impact the final outcome…

unseen on July 19, 2008 at 7:31 AM

Very nice analogy of the two 1776 revolutions. Also, spot on about the Burr example, of which there are myriad of…which the media ignore because they always have an agenda. I’d rather that they own up to that agenda, so the public knows. But, the public is mostly oblivious.

I also agree with MB4 on the bailouts, when it is advantageous to them, and to your analysis of the real culprits, and who should be punished. It seems to me these things are ‘pardoned’ due to the (always) next election coming up, for congress, or presidential. Still, we let them get away with it.

Entelechy on July 19, 2008 at 1:48 PM

Danno, Danno, Danno – you do that, and we’re at war, my e-friend. Think long and hard, and deeply.

Entelechy on July 19, 2008 at 1:49 PM

Danno, and think of your kids, and their kids.

Entelechy on July 19, 2008 at 1:50 PM

unseen and entelechy: best contributions to the debate evah! You have clear-eyed common sense.

onlineanalyst on July 19, 2008 at 5:03 AM

We’re just two common mortals. However, this coming from the onlineanalyst, is very much appreciated :) Thank you, and the feeling is mutual. Your contributions are always thoughtful too.

Entelechy on July 19, 2008 at 1:52 PM

Through the years of the housing boom, many Americans came to treat their homes like automated teller machines that never required a deposit. They harvested cash through sales, second mortgages and home equity lines of credit. That allowed Americans to live far in excess of what they brought home from work.
- Peter Goodman

MB4 on July 19, 2008 at 5:46 PM

Being stupid is not a crime, taking advantage of that stupidity is. I compare it to a sexual predator that molests “special needs kids”

unseen on July 19, 2008 at 7:15 AM

That’s ridiculous. Taking advantage of someone’s stupidity is not a crime. Breaking the law is a crime. One could argue that the laws need to be changed, but that’s after the fact. The only court you can try these companies in is the court of public opinion – and you’ll probably be successful.

By your logic, every car dealership in the country needs to be closed down.

Drawing the analogy between child molesters and business people is stupid. In one case, the perpetrator robs an innocent of something they are defenseless to protect, can never recover once it’s gone, and will be dealing with the rest of their lives, in all likelihood. In the other case you are trying to remove someone’s right to fail, or make bad decisions – the only thing they will actually learn from.

I realize this post is about to drop from the blog-roll, so you’ll probably never read my response, but there it is.

samuelrylander on July 20, 2008 at 10:47 AM