WASHINGTON — Though former Sen. Phil Gramm staunchly defends the legacy of the Gramm-Leach-Bliley Act, he acknowledges he could have done more to prevent the crisis during his tenure as chairman of the Senate Banking Committee.

In a wide-ranging interview, the Texas Republican turned UBS AG vice chairman said he regrets not clamping down on mortgage lending standards, blamed Alan Greenspan for fueling the housing bubble, and offered his view of what's wrong with the current regulatory reform debate.

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