Phil Gramm Quotes

I own more shotguns than I need. But less shotguns than I want. Feraz Zeid, December 23, 2023January 10, 2024, Phil Gramm, Gun, 0

- Phil Gramm

Economist

 Copy

• Gun

Government is not the generator of economic growth; working people are. Feraz Zeid, December 23, 2023January 10, 2024, Phil Gramm, Government, Growth, 0

- Phil Gramm

Economist

 Copy

• Government
• Growth

Half the world does not know the joy of wearing cotton underwear. Explain Feraz Zeid, December 23, 2023January 10, 2024, Phil Gramm, Joy, Underwear, 0

- Phil Gramm

Economist

 Copy

• Joy
• Underwear

I look at subprime lending and I see the American dream in action. Explain Feraz Zeid, December 23, 2023January 10, 2024, Phil Gramm, Action, Dream, 0

- Phil Gramm

Economist

 Copy

• Action
• Dream

I don’t accept defeat as final. Only death is final – and even then I hope for a reprieve. Feraz Zeid, December 23, 2023January 10, 2024, Phil Gramm, Accepting, Defeat, Finals, 0

- Phil Gramm

Economist

 Copy

• Accepting
• Defeat
• Finals

If I brought groceries the way I buy health insurance, I’d eat a lot better – and so would my dog. Feraz Zeid, December 23, 2023January 10, 2024, Phil Gramm, Dog, 0

- Phil Gramm

Economist

 Copy

• Dog

We have benefited greatly from the globalization of the economy in the last 30 years. Feraz Zeid, December 23, 2023January 10, 2024, Phil Gramm, Economy, 0

- Phil Gramm

Economist

 Copy

• Economy

Thank God the economy is not as bad as you read in the newspaper every day. Feraz Zeid, December 23, 2023January 10, 2024, Phil Gramm, Economy, Newspapers, Thank God, 0

- Phil Gramm

Economist

 Copy

• Economy
• Newspapers
• Thank God

I have the most reliable friend you can have in American politics, and that is ready money. Feraz Zeid, December 23, 2023January 10, 2024, Phil Gramm, Political, Politics, 0

- Phil Gramm

Economist

 Copy

• Political
• Politics

Phil Gramm Career Highlights

• Gramm began his career as an economics professor at Texas A&M University, where he taught for 12 years before entering politics.
• In 1978, he was elected to the United States House of Representatives, where he served for six years before being elected to the Senate in 1984.
• During his time in the Senate, Gramm served on several committees, including the Budget Committee, the Finance Committee, and the Banking Committee.
• In 1995, he became the Chairman of the Senate Banking Committee, where he played a crucial role in shaping financial legislation, including the Gramm-Leach-Bliley Act, which repealed the Glass-Steagall Act and allowed for the consolidation of commercial and investment banking.
• Gramm also served as the Chairman of the National Republican Senatorial Committee from 1995 to 1997, where he helped Republicans gain control of the Senate.
• In 1996, Gramm ran for the Republican nomination for President, but ultimately dropped out of the race and endorsed George W. Bush.
• After retiring from the Senate in 2002, Gramm joined the investment bank UBS as a vice chairman and later became a vice chairman at the investment firm UBS Warburg.

Key Contributions by Phil Gramm

• Gramm is widely recognized for his role in shaping economic policies during his time in the Senate. He was a strong advocate for free market principles and believed in limited government intervention in the economy.
• As Chairman of the Senate Banking Committee, Gramm played a key role in the passage of the Gramm-Leach-Bliley Act, which is considered one of the most significant pieces of financial legislation in recent history.
• Gramm also played a crucial role in the passage of the Commodity Futures Modernization Act of 2000, which deregulated the derivatives market and is seen as a contributing factor to the 2008 financial crisis.
• He was a vocal supporter of tax cuts and was a key player in the passage of the Taxpayer Relief Act of 1997, which reduced capital gains and estate taxes.
• Gramm was also a strong advocate for welfare reform and played a key role in the passage of the Personal Responsibility and Work Opportunity Reconciliation Act of 1996.

What Sets Phil Gramm Apart

• Gramm’s background as an economist and his deep understanding of economic principles set him apart from many other politicians. He was able to bring a unique perspective to policy discussions and was often seen as a leading expert on economic issues.
• He was known for his sharp wit and no-nonsense approach, which earned him the nickname “Dr. No” for his tendency to vote against spending bills and government intervention in the economy.
• Gramm’s strong conservative beliefs and his willingness to stand up for them, even in the face of opposition, also set him apart from many of his colleagues in Congress.

Takeaways

• Phil Gramm’s career highlights and key contributions have had a significant impact on economic policies in the United States.
• His strong belief in free market principles and limited government intervention in the economy have shaped his approach to policymaking and have made him a respected figure in the field of economics.
• Gramm’s legacy continues to be felt in the financial sector, particularly through the Gramm-Leach-Bliley Act, which has had a lasting impact on the banking industry.
• His career serves as a reminder of the importance of having knowledgeable and principled leaders in government who are willing to stand up for their beliefs and make tough decisions for the betterment of the country.

Other People

Abraham Rotstein

Economist

· Canada

1925

Alan Blinder

Economist

1945

Alan Greenspan

Economist

· USA

1926

Alex Tabarrok

Economist

1966