The Glass Steagall Act was overturned by the Gramm Leach Bliley Act. Phil Gramm, after getting his namesake bill passed, immediately left Congress and took a job with UBS, receiving a commission for finding tax shelters for their US clients. Creating legislation and profiting from it is the Gramm way, his wife, Wendy, wrote the “Enron Loophole”, left government and took a million dollar signing bonus with Enron. When Enron went down, she became the “distinguished scholar” at George Mason University’s Mercator Institute, bought and paid for by the Kochs.
The Glass Steagall Act was overturned by the Gramm Leach Bliley Act. Phil Gramm, after getting his namesake bill passed, immediately left Congress and took a job with UBS, receiving a commission for finding tax shelters for their US clients. Creating legislation and profiting from it is the Gramm way, his wife, Wendy, wrote the “Enron Loophole”, left government and took a million dollar signing bonus with Enron. When Enron went down, she became the “distinguished scholar” at George Mason University’s Mercator Institute, bought and paid for by the Kochs.