American Economist, Former U.S. Senator, (TX)
Wednesday, September 28, 2022
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Author Series
Moderator:
Kathleen Camilli
American Economist, Camilli Economics
Senator Gramm joined Lone Star Global Acquisitions as Vice Chairman in December of 2012. He served as Vice Chairman of UBS Investment Bank from December 2002 to December 2011. At UBS he provided senior leadership in such landmark IPOs as Visa, the Bank of China, the China Merchants Bank and LGPhillips in Korea. He was instrumental in the follow-on equity offering for the Industrial and Commercial Bank of China, the privatization of Telstra in Australia and the sale of 20% of Akbank in Turkey to Citibank.
Senator Gramm served six years in the US House and eighteen years in the US Senate. His legislative record includes landmark bills like the Gramm-Latta Budget, which reduced federal spending, rebuilt national defense and mandated the Reagan tax cut, and the Gramm-Rudman Act, which placed the first binding constraints on federal spending. As Chairman of the Banking Committee, Senator Gramm steered through legislation modernizing banking, insurance and securities law, which had been languishing in Congress for 60 years. The Gramm-Leach-Bliley Act allowed banks, securities firms and insurance companies to affiliate as part of a Financial Services Holding Company.
Dodd-Frank did not repeal Gramm-Leach-Bliley but, instead, expanded it by requiring systemically significant nonbanks to become Financial Services Holding Companies.
Gramm is a Nonresident Senior Fellow at the American Enterprise Institute.
Phil Gramm holds a Ph.D. from the University of Georgia in economics, the subject he taught at Texas A&M University for 12 years. He has published numerous articles and books on subjects ranging from monetary theory and policy to private property and the economics of mineral extraction.
He is married to Dr. Wendy Lee Gramm, former Chairman of the U.S. Commodity Futures Trading Commission under Presidents Reagan and Bush. They have two sons, Marshall and Jeff, and five grandchildren, Caroline, Will, Joshua, Gilbert and Benjamin.
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