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U.S. Securities and Exchange Commission

Accomplishments of Senator Gramm Lauded



Washington, DC, September 4, 2001 – Securities and Exchange Commission Chairman Harvey L. Pitt today released the following statement in response to Senator Phil Gramm's announcement of his decision not to seek re-election:

Senator Phil Gramm is a remarkable public servant. When his current Senate term ends, he will have served our country for a quarter century with distinction and honor. Accomplished economist, born teacher, creative thinker, and a man of unparalleled judgment, Senator Gramm has had a forceful impact in many areas. Of special significance to the SEC is his attention to financial services. Senator Gramm is the principal author of legislation bearing his name that brought financial services regulation into the twenty-first century; it stands as one of many fitting monuments to his public service.
As former Chairman of the Banking Committee, and now its Ranking Member, Senator Gramm is deeply committed to the financial health and safety of our economy. He worries about, and responds to, the needs of those who both raise and invest capital in our markets. The Commission and the public benefit from this thoughtful and modest man's dedication.
On behalf of the Commission, I want to thank Senator Gramm for the superb legacy of his public service. His unwavering integrity and dignity inspire us. Personally, I am grateful for his support, insights and friendship. I know I will continue to benefit from his wisdom and judgment.



Modified: 09/04/2001