Rememeber Texas Senator Phil Gramm??? You know, the guy who authored the Gramm-Leach-Bliley Act back in 1999...
Oh, you don't remember the Gramm-Leach-Bliley Act??? Okay... Well, this bill was pushed thru big time by Citicorp, J. P. Morgan and Bankers Trust... The crux of the bill was the repealing of a New Deal bill, The Glass-Steagall Act which was enacted to prevent commercial banks from gambling away its depositors doughj with investment banks... In other words, it told the commercial banks to play safe and stay away from the track with it's depositer's $$$$.... The motivational forces behind the Glass-Steagall Act was thwe '29 Crash...
Here's where it gets interesting... This same Phil Grammm quit congress so he could make the big buck$$$ as a corporate lobbiest and this same Phil Gramm is now John McCain's campaign general co-chairman and domestic advisor...
(Well, so what, Boberdz???)
Seems that staright talkin' McCain's bgoy also lobbied Congress for the Swiss bank, UBS, to overturn state laws against preditory lending and making risky motgae loans (sybprime)...
Last week, UBS announced it had lsot $37B in the last 6 months???
Yeah, hmmmmmmmm???
So, it looks like Blind John is being led by Blind Phil on the economy...
I'm not sure where the (Gate) part comes into play but I just have this feeling that in the words of the late Paul Harvey that over the coming weeks and months we will be gettin' "The rest of the story"...