The LeMieux Center for Public Policy welcomed Senator Phil Gramm, former Senator from Texas to discuss the Myth of American Inequality. 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 UBA he provided senior leadership in such landmark IPOs as Visa, the China Ocean Shipping Company (COSCO), 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 U.S. House and eighteen years in the U.S. Senate. His legislative record includes landmark bills like 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 Financial Services Holding Company. Gramm is a Nonresident Senior Fellow at the American Enterprise Institute and holds a Ph.D. from the University of Georgia in economics, the subject he taught at Texas A7M University for 12 years. He has published numerous articles and books, including the Myth of American Inequality. He is married to Dr. Wendy Lee Gramm, former Chairman of the U.S. Commodity Futures Trading Commission under Presidents Reagan and Bush.
