Former Sen. Phil Gramm, who moved from writing financial deregulation bills favorable to big banks to working for a big bank, and then lobbied against tightening regulations that might have prevented some of the current mortgage mess, is now the “general chairman” of the McCain campaign. (Gramm also had a hand in the Enron fiasco.
When Barack Obama says that lobbyists aren’t funding his campaign and won’t work in his White House, that’s the sort of revolving-door arrangement he’s criticizing.