Wednesday, September 17, 2008

Elaine Chao, Wendy Gramm

Ooops. Senior moment. Contrary to what I said yesterday, Elaine Chao isn't the wife of Republican Senator Phil Gramm.

Phil Gramm's wife Wendy, however, was on the board of Enron. Which should tell you something about the Gramms' position on government regulation. In case the fact that Phil wrote the law that deregulated investment banking doesn't tell you something.

Chao, the rapidly anti-labor current Republican Secretary of Labor, is the wife of Republican Senator Mitch McConnell.

McConnell is the ranking Republican in this Senate and has a 100% pro-business (anti-regulation) record from the US Chamber of Commerce. Which should tell you how he feels about regulating Wall Street.

So how anybody can think that McCain is going to make changes in Washington--especially in regulating corporate America--is way past me. His chief economic advisor remains Phil Gramm.

Here's what's going down: Even as he and Palin are stumping this promise, you can be sure his aides are on the phone to Wall Street saying, "Pay no attention. This is just political rhetoric to get him in office. You know John, he'll take care of ya!"

2 comments:

Glen said...

And, David Kuo, a former speech writer for George W. Bush just said this on Facebook: David Kuo After all of these government bailouts can anyone credibly talk of "free markets" ever again? Please.

PICO said...

Hi Glen, thanks for the heads-up.

If Republicans weren't unabashed liars, and if Republicans could be swayed by facts, no one would ever utter "deregulation" or "free markets" again.

Only, they aren't and can't, and there may well be another agenda.
If you haven't read it yet, rush ou and get The Shock Doctrine, by Naomi Wolfe. You're in for some real surprises.

Regards,
Pico