Gawker owner ted cruz4/9/2023 ![]() ![]() So, Ted Cruz has selected as an economic adviser a man who was a direct cause of the global financial crisis and helped to blow up Enron, as well as being thoroughly corrupt. Enron, coincidentally, was a major campaign contributor to the senator. This allowed Enron to avoid most regulation in its energy-trading business. A former head of the Office of Government Ethics called Ted Cruz's column on 'woke CEOs' 'corrupt.' In the column, Cruz expressed his anger at corporations objecting to Georgia's new voting. At Wendy Gramm’s urging, then-Senator Gramm inserted what became known as the Enron loophole into the Commodity Futures Modernization Act. ![]() Not only was the law problematic, but it veered into potential conflict-of-interest territory.Īt the time the legislation was under consideration, Gramm’s wife, Wendy, was on the board of Enron, which as we now know was one of the greatest accounting fiascos in history. purgatoire river fishing kathy scruggs sisters signs a woman is a siren musc labor and delivery rooms linklaters number of employees how to remove reaction on telegram message jamie lomas son billy amy klobuchar parkinsons polish swear words list jim. Gramm was a co-sponsor of the legislation, which exempted many derivatives and swaps from regulation. how to transfer water bill to new owner 2021 prayer points with scriptures. The damage caused by rolling back Glass-Steagall pales compared with what resulted from the Commodity Futures Modernization Act of 2000. Thank you for that also, Phil! Barry Ritholtz explains: Thank you for that Phil! As if that’s not enough, Gramm also ensured that the government did not regulate derivatives, the wildly abused financial instruments that made the crisis so, so much worse. In no particular order, Texas senator and Republican presidential aspirant Ted Cruz has: said acts of Christian terrorism stopped centuries ago, forgetting the Ku Klux Klan and the shooting in. Cruz did everything he could to help Ryanpossibly because the escort played up his status as a veteran afflicted with PTSDaccording to Gawker: He also sought help from his local senator. Gramm played a key role in repealing the Glass-Steagall Act, thereby allowing huge banks to start gambling with everyone’s money, which threw the global financial system into chaos when the bets went bad in 2008. ![]() He also has a long track record of opposing government regulation of Wall Street: “The distinguishing feature of Gramm’s career in public service is hostility to regulation in almost every form.”Ĭruz is aligning himself here with a man whose actions were one of the direct causes of the 2008 financial crisis. Ted Cruz (R-Texas) found his name trending Thursday on social media for all the wrong reasons after what critics called a groveling and humiliating appearance on Fox News. Ted Cruz this week decided that one of his senior economic advisers will be former Texas Senator Phil Gramm-90s kids remember Phil Gramm! Looks like an old mouse and hates Bill Clinton? Yep, that’s the guy. Republicans, you will be happy to know that the guy who is the sober alternative to Donald Trump is being advised on economic policy by the guy who helped lay the groundwork for most recent total collapse of the global economy. ![]()
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