McCain Campaign Lobbying For Foreign Bank – UBS

Filed in National by on September 21, 2008

If we had a real press in this country, McCain would be losing by 30 points. Get a load of this shit from Josh Marshall at TPM…

John McCain’s top economics advisor, who is widely believed to be his choice for Treasury Secretary, should he win in November, is former Sen. Phil Gramm. As late as last night McCain’s spokesman refused to say Gramm wouldn’t be McCain’s choice for Treasury Secretary.

Gramm is both vice chairman of UBS’s US division and a lobbyist for UBS.

UBS successfully lobbied over the weekend to get in on the big bailout

The New York Times reports this evening that “foreign banks, which were initially excluded from the [Wall Street bailout] plan, lobbied successfully over the weekend to be able to sell the toxic American mortgage debt owned by their American units to the Treasury, getting the same treatment as United States banks.”

The Times further reports that two of the biggest foreign banks in need of such relief are Barclays and UBS.

Tags: ,

About the Author ()

Jason330 is a deep cover double agent working for the GOP. Don't tell anybody.

Comments (5)

Trackback URL | Comments RSS Feed

  1. cassandra_m says:
    September 21, 2008 at 11:56 pm

    Paulson now wants to expand the types of bad debt they can acquire:

    The change suggests the inclusion of instruments such as car and student loans, credit-card debt and any other troubled asset. That may force an eventual increase in the size of the package as Democrats and Republicans in Congress negotiate the final legislation with the Bush administration, analysts said.

  2. Don G. says:
    September 22, 2008 at 12:05 am

    GOOD ARTICLE ON DONNA (PLAYGIRL) STONE, JASON, I WAS SURPRISED THAT THE DELAWARE STATE FISH WRAP WOULD PRINT ANY THING ON ONE OF THEIR OWN, KEEP UP THE PRESSURE JASON!!!

  3. cassandra_m says:
    September 22, 2008 at 12:42 am

    One more thing — none of the banks on that list should get any contracts to manage or assist with these auctions or with the unwinding or subsequent liquidation of these assets. That will leave the day to day work of the fix to smaller, regional banks who stuck to their knitting (Wilmington Trust).

  4. anon says:
    September 22, 2008 at 6:49 am

    Just a little rewrite fun, to demonstrate what the Republicans are actually proposing. Is there any doubt that, if this thing passes, they will go to ANY length to keep the White House?

    (b) Necessary Actions.–Phil Gramm is authorized to take such actions as Phil Gramm deems necessary to carry out the authorities in this Act, including, without limitation:

    (1) Phil Gramm may appoint such employees as may be required to carry out the authorities in this Act and defining their duties;

    (2) Phil Gramm may enter into contracts, including contracts for services authorized by section 3109 of title 5, United States Code, without regard to any other provision of law regarding public contracts;

    (3) Phil Gramm may designate financial institutions as financial agents of the Government, and they shall perform all such reasonable duties related to this Act as financial agents of the Government as may be required of them;

    (4) Phil Gramm may establish vehicles that are authorized, subject to supervision by the Secretary, to purchase mortgage-related assets and issue obligations; and

    (5) Phil Gramm may issue such regulations and other guidance as may be necessary or appropriate to define terms or carry out the authorities of this Act.

  5. pandora says:
    September 22, 2008 at 6:58 am

    Rewrite fun? That reads more like the truth.

«
»