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Favorable or Unfavorable #349: Phil Gramm


Favorable or Unfavorable #349: Phil Gramm  

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  1. 1. Did you read my first comment?

  2. 2. Favorable or Unfavorable #349: Phil Gramm

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Phil Gramm of TX is most well-known for leading in banking and finance in Congress. His removal of Glass-Steagall is sometimes considered a leading cause of the Great Recession. During the Great Recession he was often a "top 10" figure on who to blame for the economic crisis. The constant blame probably led to his words in event 2008 and his resignation. He stated that the economic crisis only existed in people's heads and that we're just a nation of "whiners." He then refused to retract his statement after he resigned. Gramm also had a bit part in Gods and General as a Confederate general.

His actions:

Gramm, Phil 1981 Role in helping pass Econ Recov Tax Act
Gramm, Phil 1981 Gramm-Latta II expenditure cuts
Gramm, Phil 1983 resigns seat, switches from Dem to GOP, is reelected
Gramm, Phil 1985 Gramm-Rudman Act to balance budget
Gramm, Phil 1996 Rep pres cand, but drops out when revealed he invested in porn movie industry
Gramm, Phil 1999 Influential Senate Banking Committee Chair. Served as Glass-Steagall was repealed and replaced
Gramm, Phil 1999 Gramm-Leach-Bliley Act, removing Glass-Steagall
Gramm, Phil 2008 Co-chairs McCain campaign for pres, but forced to resign b/c says economic crisis is an illusion
Gramm, Phil 2016 Supports Rubio for pres, then Cruz, and only reluctantly accepts Trump
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