Palin in Ohio Today

Palin is in Vienna, Ohio today, giving a speech about the economy. She is talking about how large investment banks used predatory practices against the American people, the federal government failed to defend the public from these companies and their practices, and now they're asking for public bailouts. She talks about "reckless CEOs" and their severances packages. Then, she says, the man to fix this is John McCain.

What she doesn't talk about is that John McCain's chief economic advisor, former senator Phil Gramm, is chiefly responsible for the failure of federal agencies to defend the public, as he the author of the most significant banking deregulation legislation. This leaves it up to the public to figure out how, exactly, will John McCain fix the problem while getting the advice of the guy who wrote the legislation and, incidently, was a lobbyist for Swiss investment bank UBS until this summer. Phil Gramm is clearly a man who has the public interests first and foremost in his mind.