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McCain Gets It, Obama Doesn’t


#1

McCain Gets It, Obama Doesn’t

Robert Scheer

Maybe I got it wrong. During thepresidential campaign I wrote columns blasting Sen. John McCain forsiding with the big bankers on deregulation, citing his choosingex-Sen. Phil Gramm, currently a vice chairman of the Swiss-ownedbanking giant UBS, as his presidential campaign chair. Barack Obama, onthe other hand, repeatedly blasted Gramm and the Gramm-Leach-BlileyAct, which the Texas Republican had pushed through Congress, withPresident Bill Clinton's support-legislation that repealed theGlass-Steagall Act and radically deregulated the financial industry.