Sen. Phil Gramm, chairman of the Senate Committee on Banking, Housing and Urban Affairs, issued the following statement on the announced resignation of Treasury Secretary Robert Rubin:

"It has been my great pleasure to work with Secretary Rubin. I found him to be intelligent and sincere.

"I am grateful that people who have tremendous talent and capability to be successful in the private sector are willing to give up time and money to serve the public. We are all beneficiaries of Secretary Rubin's willingness to be one of those people.

"Of all the officials in the Clinton administration, he has had more credibility with me and I think with Congress than any other official, and justifiably so. He will certainly be missed."