derivatives

warren buffet calls derivatives "financial weapons of mass destruction." i can't begin to explain what derivatives are because i only understand part of it. but when you have warren buffet saying that about something, it begs notice.

phill gramm was a senator from texas. he was also john mccain's campaign co-chair before he said something amazingly stupid. he also sponsored a bill adamantly denouncing regulation of our financial institutions. he also authored an act to allow consolidation of commercial and investment banks. the gramm-leach-bliley act has been highlighted here before.

isn't it amazing how one man who most of us never heard helped to create the situation we're currently facing. he's not our president, so he won't get blamed. but his stamp of approval is all over this mess. and he was john mccain's close advisor, probably still is, just without a title. john mccain has admitted openly he knows nothing about the economy. and he's got this man talking into his ear. and he could be our next president. and our next vice president is even more amazing. i'll wait until after the debate to discuss that. wow.