| Olbermann: McCain Economic Policy Shaped by Bank Lobbyist Swiss bank paid McCain co-chair, Phil Gramm to push agenda on U.S. mortgage crisis. Senator Phil Gramm advised McCain on his subprime mortgage bailout policy while he was also a registered lobbyist for the Swiss bank UBS. Per TPM: "UBS has some $37 billion in write-downs on assets tied to bad US mortgages...According to Forbes, UBS has some $37 billion in write-downs on assets tied to bad US mortgages. In other words, the bank's very life appears to be on the line in how the US government chooses to handle the matter." Tags: McCain Bank Lobbyist economic advisor Phil Gramm corruption predatory lenders mortgage crisis |