More lobbying in StraightTalkLand

Phil Gramm wrote a financial deregulation law that allowed UBS to buy Paine Webber, and promptly went to work for UBS as a lobbyist fighting tighter mortgage regulations. He’s now “general chairman” of the McCain campaign.

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.

Author: Mark Kleiman

Professor of Public Policy at the NYU Marron Institute for Urban Management and editor of the Journal of Drug Policy Analysis. Teaches about the methods of policy analysis about drug abuse control and crime control policy, working out the implications of two principles: that swift and certain sanctions don't have to be severe to be effective, and that well-designed threats usually don't have to be carried out. Books: Drugs and Drug Policy: What Everyone Needs to Know (with Jonathan Caulkins and Angela Hawken) When Brute Force Fails: How to Have Less Crime and Less Punishment (Princeton, 2009; named one of the "books of the year" by The Economist Against Excess: Drug Policy for Results (Basic, 1993) Marijuana: Costs of Abuse, Costs of Control (Greenwood, 1989) UCLA Homepage Curriculum Vitae Contact: