James Pethokoukis, the money and politics blogger for U.S. News & World Report, has an interesting piece today on a conversation he had with former Senator Phil Gramm. The question Pethokoukis was looking to answer was whether the Texas Republican, who’s now John McCain’s campaign economic adviser, was at least partially to blame for the subprime crisis. That charge has been leveled by political opponents who say 1999’s Gramm-Leach-Bliley Act, that allowed banks, securities companies, and insurance companies to directly compete with one another, led to th[...]
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[Source: The Money Blogs]
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