{"id":1108,"date":"2008-11-17T15:15:01","date_gmt":"2008-11-17T19:15:01","guid":{"rendered":"http:\/\/ssgreenberg.name\/PoliticsBlog\/?p=1108"},"modified":"2008-11-17T15:15:01","modified_gmt":"2008-11-17T19:15:01","slug":"phil-gramm-unrepentant","status":"publish","type":"post","link":"https:\/\/ssgreenberg.name\/PoliticsBlog\/2008\/11\/17\/phil-gramm-unrepentant\/","title":{"rendered":"Phil Gramm Unrepentant"},"content":{"rendered":"

The New York Times has a story Deregulator Looks Back, Unswayed<\/strong><\/a>.\u00a0 You can see comments on this story<\/strong><\/a> on Huffington Post.<\/p>\n

He just can’t seem to understand why every American doesn’t have a PhD in economics so that they could be on an equal footing with him.<\/p>\n

I can see him as one of those mortgage brokers.<\/p>\n

\n
Customer:<\/dt>\n
I can’t afford a mortgage with those high interest rates.<\/dd>\n
Gramm the broker<\/dt>\n
Have I got a deal for you. Half the standard interest rate for the first few years.
\nIt’s called an ARM mortgage.<\/dd>\n
Customer:<\/dt>\n
What happens after that?<\/dd>\n
Gramm the broker<\/dt>\n
The interest rate triples, but you’ll be able to refinance with a new ARM mortgage.<\/dd>\n
Customer:<\/dt>\n
I don’t know, it sounds too risky to me.<\/dd>\n
Gramm the broker<\/dt>\n
Trust me, I have a PhD in economics. Would I steer you wrong?<\/dd>\n<\/dl>\n

Now he is blaming predatory borrowers for the problems that occurred. He had no idea it would come to this.<\/p>\n

Apparently the reporters on this story were cowed by Gramm’s credentials and his domineering personality.\u00a0 All they can do is report it as a one side says this and the other side says that.\u00a0 They haven’t got a clue as to what may be true and what may be more snake oil from the master snake oil salesman.\u00a0 (Is that too many metaphors in one post?)<\/p>\n","protected":false},"excerpt":{"rendered":"

The New York Times has a story Deregulator Looks Back, Unswayed.\u00a0 You can see comments on this story on Huffington Post. He just can’t seem to understand why every American doesn’t have a PhD in economics so that they could be on an equal footing with him. I can see him as one of those […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[166],"tags":[],"class_list":{"0":"post-1108","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-stevegsposts","7":"czr-hentry"},"_links":{"self":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts\/1108","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/comments?post=1108"}],"version-history":[{"count":1,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts\/1108\/revisions"}],"predecessor-version":[{"id":1109,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts\/1108\/revisions\/1109"}],"wp:attachment":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/media?parent=1108"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/categories?post=1108"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/tags?post=1108"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}