When Paulson's "plan" came out this weekend, many thought, "Gosh, this is really bad. How could it be worse?" Well, with lobbyists working overtime this weekend, we find that the updated version is even worse. Phil Gramm (the guy who McCain wants to name the next Secretary of the Treasury) was able to get the bailout plan to rescue his personal foreign bank: UBS. For some context, here's what Daniel Gross wrote about UBBS last summer: "UBS used to stand for Union Bank of Switzerland. But perhaps it should stand for Untold Billions Squandered" because they had done such a good job following Gramm's economic model. It was the UBS connection that made Phil Gramm toxic to the McCain campaign, at least publicly. Obviously, the guy who brought the US Enron, is now bringing the US the son of Enron, guaranteed to make your life worse. Aren't you happy to see the gang in Washington watching out for their base?
Your turn now.