Phil Gramm

Phil Gramm was an US Senator from Texas from 1984 to 2003. He was an author of the repeal of the Glass-Steagall Act in 1999, which had prevented commercial banks from merging with investment banks. I regard Phil Gramm and Alan Greenspan as two of the people principally responsible for the Great Recession. Now FOX News has pulled Gramm out of mothballs to provide support for Donald Trump’s “tax reforms.” With Gramm’s record on the economy, I would not take his word on anything related to the US economy. He is currently employed as a vice chairman of UBS, a large Swiss bank.