i'm thinking of phil gramm in texas. he had been what elected as a democrat to congress, senior as i was, 1978, and came to town, but he believed in a lot of the same fund that the principles that president reagan believed then. he signed on and joined us, and we had a number of conservative democrats who worked with us and help us pass that legislation. for the first couple years, that first term, we actually had a situation where even though the republicans were in the minority in the house, with our conservative democratic friends on the other side of the aisle, we put together a majority on economic issues, budgets, tax policy, so forth, and it was enormously successful it was also a big tribute to ronald reagan, and the democrats as i recall overreacted and penalize some of the guys on the other side. i was thought it was a it. principle to move on phil gramm's part. he resigned as a member of congress, announced he would be republican, went back home, and ran in a special election at. he switched parties, but he wa

phil gramm pushed real hard for its removal. they were able to do what they did, they were not able to do what they did because of glass- steagall. we got stuck with the cost of their bad investments, something the would not have happened if glass-steagall had stayed in effect is that not true? do you think reinstatement of glass-steagall would help pull the please answer these questions. go in more depth. how glass-steagall

phil gramm pushed real hard for its removal. they were able to do what they did, they were not able to do what they did because of glass- steagall. we got stuck with the cost of their bad investments, something the would not have happened if glass-steagall had stayed in effect is that not true? do you think reinstatement of glass-steagall would help pull the please answer these questions. go in more depth. how glass-steagall separated the commercial phase from the public. guest: you're right. i did not want to dwell on that. i can give you a litany of what i think were bad moves and that steps. the time on this program is so valuable to me to be able to talk about whether what is the best thing going for. i do think is separation of commercial and non-banking interests served this country well. you've made those points. i do not know what it serves now to go back and say, this is a who caused the problem. this is who is to blame, one party versus the other. i could do that. i'm more concerned that we in up with a system of finan

and the of guys like phil gramm from texas. he had been elected as a democrat to the congress the same year i was a, 1978. but he believed in a lot of the fundamental present -- principles that president reagan believe in. he joined on and we had a number of bold weevil democrats, conservative democrats who worked with dozens to pass that legislation -- to work with us to pass that legislation. in the first couple of years we actually had a situation that even though the republicans were the minority in the house, our conservative democratic friends on the other side of the island -- we put together a majority on budget and tax policy and so forth. it was also a big tribute to ronald reagan. and the democrats, as i recall, overreacted and penalize some of the guys on the other side of the aisle like phil. i always think this is a principled move on his part. he resigned his post and went back home and ran a special election as a republican to replace himself. in other words, he switched parties, but was honest about it. he did

we had been democrat representative phil gramm and republican representatives mickey edwards, and weir efforts a discharge petition in the house. and so we brought it to a vote in the house. we got a huge majority, but not the two-thirds vote that was required. interest in constitutional amendment over time, but with the resurgence of conservative feelings and the wellspring for human liberty and for control over this crazytown fiscally, has returned this issue to the top of the issue list. so we are looking forward to working with everyone at the grassroots level and working on design of the amendment as we proceed. says while reagan was president, a new body of information has emerged called the optimal or right size of government, we are all for limited government. now we know what we have to do in order to make it a government that is maximizing economic growth, which is what we must have if we're going to work out is bankrupt situation in which we find our nation. and it is with that in mind that some of the new amendments have been talking about, percentages and aspects of gros

there were boll weevil democrats like phil gramm from texas. he had been elected as a democrat to the congress the same year i was, 1978. he came to town, but he believed in a lot of the same fundamental principles that president reagan believe in. he signed on and join us. we had a number of democrats, conservative democrats, who worked with us. the help us pass the legislation. for the first couple of years of that first term, we had a situation where even though republicans were in the minority in the house, with our conservative democratic friends on the other side of the all, we put together a majority on economic issues and so forth. it was enormously successful. it is also a big tribute to ronald reagan. the democrats overreacted and penalized some of the guys on the other side like phil. he made what i thought was a principled decision. he resigned. he announced he would be a republican. he went back home and ran a special election as a republican to replace himself. in other words, he switched parties, but he was honest about it. he di