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Time readers poll says Phil Gramm is No. 1 culprit to blame

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2009-02-13 07:48

Picka
Colorado Springs, CO

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TIME has on online poll in which you can vote for the top 25 people to blame for the current economic crisis. Topping the list is Phil Gramm. He's number 1 on my list as well. Here's what TIME had to say about Gramm:

As chairman of the Senate Banking Committee from 1995 through 2000, Gramm was Washington's outspoken champion of deregulation. And he got it, by playing a lead role in the writing and passage of the 1999 repeal of the Depression-era Glass-Steagall Act, which had separated commercial banks from Wall Street. Then he inserted a provision into the 2000 Commodity Futures Modernization Act that exempted derivatives like credit-default swaps from regulation.
Have a different choice? Go to the above website link and vote.

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