Burton on McCain, Gramm, and the Financial Meltdown

Obama spokesman Bill Burton on Fox & Friends.

BURTON: Well, back in March when Bear Stearns had their first that crisis, Barack Obama gave a speech where he talked about a financial regulatory framework that would increase accountability and transparency and set Wall Street on the path to, you know, strengthening the markets and strengthening the financial institutions. Just at the same time John McCain was saying he's a deregulator. And he's surrounded with folks like Phil Gramm, who was at the center of the biggest deregulations that we've seen out of Washington and the things that have led us to the problems that we've got right now. Even worse than that is that a guy
like Phil Gramm, who worked so hard to deregulate the markets and helped to destabilize the position that we're in right now, he said that the crisis we're facing is mental. He said that the American people are a
bunch of whiners -

KILMEADE: That was a long time ago.

BURTON: It wasn't that long ago. And Phil Gramm is still the chief advisor and probably the treasury secretary if John McCain is elected, so those are the people that John McCain surrounds himself with. His
philosophy is that we need less deregulation, and that's -- it's that sort of thinking that's got us into this mess that we're in right now.

Category:

News & Politics

Tags:

• Obama
• Bill
• Burton
• John
• McCain
• Fox
• News
• Phil
• Gramm
• Economy
• Deregulation

[efeez1986]

Guess what buddy, your smarter than most of these grown folks on Youtube and in America. Whether people want to admit it or not, the only reason Obama isn't ahead by miles is because there's a lot of racist people in this country who don't want to vote for a black man. Obama is clearly ahead of McCain on every issue but some people can't look pass the color of his skin.

[voyeurdug]

Very good... especially in light of McCain's ads that say Obama is surrounded by economically out-of-touch pols. Phil Gramm appears to have beeb the chief deregulator where and when regulation was most needed.

[Swishdball]

FUCK FOX

[trythinkingforonce]

Maybe John McCain meant "Country Clubs First"

[shorttam23]

Wow... how wrong were you?

[FreeAgain2]

Here is the step by step video (search YouTube) of what happened in the mortgage/credit markets, why all these banks are failing and how we got to where we are . . . NU6fuFrdCJY

[burger1376]

i'm waiting for the debates. How will they really explain the meltdown? How will they explain the 700 billion dollars? how will mccain explain all the money he spent on the surge which could have been put into the 700 billion, however, now we have to borrow more from the chinese to pay our debts while dumb americans continue to buy chinese products. We can going to be slaves to the chinese. i'm voting obama, because at least he has vision. I just hope he puts the vision into action.

[truefaith00]

On Good Morning America, Senator Dodd discussed the meltdown of our financial system, and how it may be just days away.

Go back to the presidential primary debates and listen to all of the candidates mock Ron Paul for his economic policies. Yet almost everything he said would happen has come to pass. Now we have all of congress today acting like they are these great saviors, yet they have all refused to listen to Paul and others say this for years.

[nigglefritz]

Wick Allison, former publisher and board member of NATIONAL REVIEW has endorsed Obama, saying: Obama offers, which is a deeply conservative view of the world. Nobody can read Obamas books (which, it is worth noting, he wrote himself) or listen to him speak without realizing that this is a thoughtful, pragmatic, and prudent man. It gives me comfort just to think that after eight years of George W. Bush we will have a president who has actually read the Federalist Papers.