Fall Street (And You Can Think Phil Gramm For It)

The NYSE got its street name changed today, and it really wasn't prepared for it to happen.

The Dow Jones suffered its lowest point in seven years after Lehman Brothers had to file for bankruptcy (and Merill Lynch had to get swallowed up by the frighteningly ubiquitous presence that is Bank of America now). And that lead to the D.J. going down by a stunning 504 points, with only a few days after 9/11 showing an even lower number.

Now for most that read this site, you won't be in total tune with financial stuff or what's going down at what was formely known as Wall Street on a daily basis. With that being said, the simplest answer we can give you in this complex mess of a situation this is comes out to be that, unfortunately, John Mccain has surrounded himself in another piece of disastrous muck.

Phil Gramm, McSad's former chief economic advisor who dubbed this nation a place of "whiners" despite the horrors going on in this economy, placed his whole soul into a bill while he was in the Senate in 1999 that basically took away the ability to check the reckless, selfish, and utterly idiotic policies these banks practiced over the last 8 years. For "one of the smartest people I know" as Mccain said about Gramm, this sadly shouldn't be so surprising considering it came from the Arizona Senator.

The fact of the matter is this, the country is hurting seriously, and Gramm, along with Alan Greenspan, played a heavy part in this mess with their errorneous policies and inflated egos. But what this means in regards to the bigger agenda is that the Bush Administration had the chance to stop all this by placing a serious check on what was going.

Unsurprisingly, and now painfully, they didn't do that. They look their merry way and focused on their journey overseas of getting oi..., excuse me, spreading democracy and fighting for the oi......oik of a person that Saddam Hussein is. (Oik by the way means "A rude person."). And because of their judgement, we are left hearing from many economists and folks growing up or born in the 1930's that only the Great Depression has been a worse economic time for our country.

And it also leads to subjecting ourselves (or some of us) to the dreadful state that is watching John McCain backtrack on his continued cluelessness on what is going on with the nation's money.