One of McCain’s closest friends and advisers, Phil Gramm, who wrote McCain’s economic plan and who McCain said he relies on to understand the economy, didn’t believe the current crisis was possible.
Actually True. Gramm said that “This is [only] a mental recession…We sort of become a nation of whiners,” just a few months ago. But though McCain distanced himself from the comments, but he kept Gramm’s plans in place. Gramm was, in fact, one of the authors of the bill that deregulated the banking industry, which many economists say led to this crisis.