Former Texas Senator Phil Gramm is one of John McCain’s major economic adviser; he crafted McCain’s mortgage relief policy and speech.
Well, it turns out that–up until late April–Gramm was a lobbyist for the Swiss bank UBS, which has a clear interest in crafting mortgage relief legislation favorable to their business and unfavorable to their customers.
So one of McCain’s major economic policies was written by a banking lobbyist with a clear conflict of interest. If McCain will tolerate this kind of influence-peddling on his campaign, how far will he let it slide if he’s elected President? Can America really afford another four years of lobbyists running the show in Washington?