Phil Gramm

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Phil Gramm

Senator Phil Gramm of Texas introduced the Gramm-Leach-Bliley Act on April 28, 1999. The Act provided a framework for the affiliation of banks, securities firms, and other financial service providers.

Senator Gramm later went to work for UBS AG, the Swiss bank whose foray into investment banking contributed to an 88 percent drop in its shares between June 2007 and March 2009.[1]