Earlier in his life, he had studied at Harvard University before he served in the United States Marine Corps, achieving the rank of lieutenant colonel. In 1946 he started to work for Merrill Lynch. He served as its chairman and CEO from 1971 to 1980.
In 1942, Regan married the former Ann George Buchanan (1921–2006) with whom he had four children: Donna Regan Lefeve, Donald T. Regan, Jr., Richard William Regan, and Diane Regan Doniger.
Wall Street
Donald Regan portrait as Merrill Lynch CEO, by Robert Templeton, 1981
After the war, he joined Merrill Lynch & Co., Inc. in 1946 as an account executive trainee. He worked up through the ranks, eventually taking over as Merrill Lynch's chairman and CEO in 1971, the year the company went public. He held those positions until 1980.
Regan was one of the original directors of the Securities Investor Protection Corporation and was vice chairman of the New York Stock Exchange from 1973 to 1975. He was a major proponent of brokerage firms going public, which he viewed as an important step in the modernization of Wall Street. Under his supervision, Merrill Lynch had its initial public offering on June 23, 1971, becoming only the second Wall Street firm to go public. (Donaldson, Lufkin & Jenrette was the first.)
During his tenure in these two positions, Regan pushed hard for an end to minimum fixed commissions for brokers, which were fees that brokerage companies had to charge clients for every transaction they made on the clients' behalf. Regan saw them as a cartel-like restriction. His lobbying played a large part of fixed commissions being abolished in 1975.
Reagan administration
President Ronald Reagan selected Donald Regan in 1981 to serve as Treasury Secretary, marking him as a spokesman for his economic policies, dubbed "Reaganomics". He helped engineer changes in the tax code, reduce income tax rates, and decrease taxes for corporations. Regan unexpectedly swapped jobs with then White House Chief of Staff James Baker in 1985. As chief of staff, Regan was closely involved in the day-to-day management of White House policy, which led Howard Baker, Regan's successor as chief of staff, to give a rebuke that Regan was becoming a "prime minister" inside an increasingly-complex Imperial Presidency. During his four years as Secretary of the Treasury, Regan did not have a single one-to-one meeting with the president. Regan was forced to resign for repeatedly disagreeing with the First Lady and for his role in the Iran–Contra affair.[1] The Tower Commission, established by President Reagan to investigate the scandal, concluded that Donald Regan was responsible for the "chaos" that took hold of the White House. "More than almost any Chief of Staff in recent memory, he asserted control over the White House staff and sought to extend this control to the National Security Adviser. He was personally active in national security affairs, and attended almost all the relevant meetings regarding the Iran initiative. He, as much as anyone, should have insisted that an orderly process be observed."[2]
Regan's 1988 memoir, For the Record: From Wall Street to Washington, exposes his disagreements with First Lady Nancy Reagan, revealing publicly that she had a personal astrologer who was later revealed to be Joan Quigley with whom she consulted and who helped steer the president's decisions. Regan wrote:
Virtually every major move and decision the Reagans made during my time as White House Chief of Staff was cleared in advance with a woman in San Francisco [Quigley] who drew up horoscopes to make certain that the planets were in a favorable alignment for the enterprise.[3][4]
"And the horse you rode in on" was a favorite saying of Regan. He learned it from a poker buddy in Texas who said "fuck you and the horse you rode in on." Regan adopted the latter part of the phrase.[citation needed] In the portrait of Regan that hangs on the third floor of the treasury, the title of a book in the background reads And the Horse You Rode In On.[5]
"You've got to give loyalty down if you want loyalty up."[6][7]
Retirement
Regan retired quietly in Virginia with Ann Regan, his wife of over 60 years. In late life, he spent nearly 10 hours a day in his art studio painting landscapes. He had four children and nine grandchildren.[8]
^Fred I. Greenstein, "Ronald Reagan—Another Hidden-Hand Ike?." PS: Political Science & Politics 23.1 (1990): 7-13.
^Jane Mayer and Doyle McManus. Landslide: The Unmaking of the President 19840-1988, (Boston: Houghton Mifflin Company, 1988),ISBN978-0006374374
^Donald Regan. For the Record: From Wall Street to Washington, (San Diego: Harcourt Trade Publishers, 1988), ISBN0151639663
^"The President's Astrologers", People (May 23, 1988)
^Birnbaum, Jeffery H.; Murray, Alan S. (1987). Showdown at Gucci Gulch: Lawmakers, Lobbyists, and the Unlikely Triumph of Tax Reform. New York: Random House. p. 68. ISBN0394560248.
^Hopkins, Tom (2010). Selling in Tough Times: Secrets to Selling When No One Is Buying. New York: Hachette Book Group. ISBN9780446558501.
^Adamchik, Wally (2011). Construction Leadership from A to Z: 26 Words to Lead By. Austin, Texas: Live Oak Book Company. ISBN9781936909179.
^ ab"Donald Regan, 84, Financier and Top Reagan Aide, Dies". The New York Times. June 11, 2003. Retrieved March 20, 2014.
^"Burial detail: Regan, Donald T". ANC Explorer. Retrieved January 27, 2023.
Further reading
Regan, Donald T. For the Record: From Wall Street to Washington (1988)
Johns, Andrew L. ed. A Companion to Ronald Reagan (2015)
Zaleznik, Abraham. "A Disengaged President: Ronald Reagan and His Lieutenants." Hedgehogs and Foxes (Palgrave Macmillan, New York, 2008) pp. 23–43.
donald, regan, confused, with, ronald, reagan, this, article, needs, additional, citations, verification, please, help, improve, this, article, adding, citations, reliable, sources, unsourced, material, challenged, removed, find, sources, news, newspapers, boo. Not to be confused with Ronald Reagan This article needs additional citations for verification Please help improve this article by adding citations to reliable sources Unsourced material may be challenged and removed Find sources Donald Regan news newspapers books scholar JSTOR August 2016 Learn how and when to remove this template message Donald Thomas Regan December 21 1918 June 10 2003 was the 66th United States Secretary of the Treasury from 1981 to 1985 and the White House Chief of Staff from 1985 to 1987 under Ronald Reagan In the Reagan administration he advocated Reaganomics and tax cuts as a means to create jobs and to stimulate production Donald Regan11th White House Chief of StaffIn office February 4 1985 February 27 1987PresidentRonald ReaganPreceded byJames BakerSucceeded byHoward Baker66th United States Secretary of the TreasuryIn office January 22 1981 February 1 1985PresidentRonald ReaganDeputyR T McNamarPreceded byG William MillerSucceeded byJames BakerPersonal detailsBornDonald Thomas Regan 1918 12 21 December 21 1918Cambridge Massachusetts U S DiedJune 10 2003 2003 06 10 aged 84 Williamsburg Virginia U S Political partyRepublicanSpouseAnn George Buchanan 1942 his death Children4EducationHarvard University BA SignatureMilitary serviceAllegiance United StatesBranch service United States Marine CorpsRankLieutenant colonelBattles warsWorld War IIEarlier in his life he had studied at Harvard University before he served in the United States Marine Corps achieving the rank of lieutenant colonel In 1946 he started to work for Merrill Lynch He served as its chairman and CEO from 1971 to 1980 Contents 1 Early life 2 Wall Street 3 Reagan administration 4 Sayings 5 Retirement 6 Death 7 References 8 Further reading 9 External linksEarly life EditBorn in Cambridge Massachusetts the son of Kathleen nee Ahearn and William Francis Regan he was of Irish Catholic origins Regan earned his Bachelor of Arts in English from Harvard College in 1940 and attended Harvard Law School before dropping out to join the Marine Corps at the outset of World War II He reached the rank of lieutenant colonel while he was serving in the Pacific Theater He was involved in five major campaigns including Guadalcanal and Okinawa In 1942 Regan married the former Ann George Buchanan 1921 2006 with whom he had four children Donna Regan Lefeve Donald T Regan Jr Richard William Regan and Diane Regan Doniger Wall Street Edit Donald Regan portrait as Merrill Lynch CEO by Robert Templeton 1981 After the war he joined Merrill Lynch amp Co Inc in 1946 as an account executive trainee He worked up through the ranks eventually taking over as Merrill Lynch s chairman and CEO in 1971 the year the company went public He held those positions until 1980 Regan was one of the original directors of the Securities Investor Protection Corporation and was vice chairman of the New York Stock Exchange from 1973 to 1975 He was a major proponent of brokerage firms going public which he viewed as an important step in the modernization of Wall Street Under his supervision Merrill Lynch had its initial public offering on June 23 1971 becoming only the second Wall Street firm to go public Donaldson Lufkin amp Jenrette was the first During his tenure in these two positions Regan pushed hard for an end to minimum fixed commissions for brokers which were fees that brokerage companies had to charge clients for every transaction they made on the clients behalf Regan saw them as a cartel like restriction His lobbying played a large part of fixed commissions being abolished in 1975 Reagan administration EditPresident Ronald Reagan selected Donald Regan in 1981 to serve as Treasury Secretary marking him as a spokesman for his economic policies dubbed Reaganomics He helped engineer changes in the tax code reduce income tax rates and decrease taxes for corporations Regan unexpectedly swapped jobs with then White House Chief of Staff James Baker in 1985 As chief of staff Regan was closely involved in the day to day management of White House policy which led Howard Baker Regan s successor as chief of staff to give a rebuke that Regan was becoming a prime minister inside an increasingly complex Imperial Presidency During his four years as Secretary of the Treasury Regan did not have a single one to one meeting with the president Regan was forced to resign for repeatedly disagreeing with the First Lady and for his role in the Iran Contra affair 1 The Tower Commission established by President Reagan to investigate the scandal concluded that Donald Regan was responsible for the chaos that took hold of the White House More than almost any Chief of Staff in recent memory he asserted control over the White House staff and sought to extend this control to the National Security Adviser He was personally active in national security affairs and attended almost all the relevant meetings regarding the Iran initiative He as much as anyone should have insisted that an orderly process be observed 2 Regan s 1988 memoir For the Record From Wall Street to Washington exposes his disagreements with First Lady Nancy Reagan revealing publicly that she had a personal astrologer who was later revealed to be Joan Quigley with whom she consulted and who helped steer the president s decisions Regan wrote Virtually every major move and decision the Reagans made during my time as White House Chief of Staff was cleared in advance with a woman in San Francisco Quigley who drew up horoscopes to make certain that the planets were in a favorable alignment for the enterprise 3 4 Donald Regan is portrayed by Frank Moore in the 2003 TV movie The Reagans Sayings Edit And the horse you rode in on was a favorite saying of Regan He learned it from a poker buddy in Texas who said fuck you and the horse you rode in on Regan adopted the latter part of the phrase citation needed In the portrait of Regan that hangs on the third floor of the treasury the title of a book in the background reads And the Horse You Rode In On 5 You ve got to give loyalty down if you want loyalty up 6 7 Retirement EditRegan retired quietly in Virginia with Ann Regan his wife of over 60 years In late life he spent nearly 10 hours a day in his art studio painting landscapes He had four children and nine grandchildren 8 Death EditRegan died of cancer on June 10 2003 at the age of 84 in a hospital near his home in Williamsburg Virginia and was served by Nelsen Funeral Home 8 His remains were interred at Arlington National Cemetery 9 References Edit Fred I Greenstein Ronald Reagan Another Hidden Hand Ike PS Political Science amp Politics 23 1 1990 7 13 Jane Mayer and Doyle McManus Landslide The Unmaking of the President 19840 1988 Boston Houghton Mifflin Company 1988 ISBN 978 0006374374 Donald Regan For the Record From Wall Street to Washington San Diego Harcourt Trade Publishers 1988 ISBN 0151639663 The President s Astrologers People May 23 1988 Birnbaum Jeffery H Murray Alan S 1987 Showdown at Gucci Gulch Lawmakers Lobbyists and the Unlikely Triumph of Tax Reform New York Random House p 68 ISBN 0394560248 Hopkins Tom 2010 Selling in Tough Times Secrets to Selling When No One Is Buying New York Hachette Book Group ISBN 9780446558501 Adamchik Wally 2011 Construction Leadership from A to Z 26 Words to Lead By Austin Texas Live Oak Book Company ISBN 9781936909179 a b Donald Regan 84 Financier and Top Reagan Aide Dies The New York Times June 11 2003 Retrieved March 20 2014 Burial detail Regan Donald T ANC Explorer Retrieved January 27 2023 Further reading EditRegan Donald T For the Record From Wall Street to Washington 1988 Johns Andrew L ed A Companion to Ronald Reagan 2015 Zaleznik Abraham A Disengaged President Ronald Reagan and His Lieutenants Hedgehogs and Foxes Palgrave Macmillan New York 2008 pp 23 43 External links EditBiography as Secretary of the Treasury Appearances on C SPANPolitical officesPreceded byG William Miller United States Secretary of the Treasury1981 1985 Succeeded byJames BakerPreceded byJames Baker White House Chief of Staff1985 1987 Succeeded byHoward Baker Retrieved from https en wikipedia org w index php title Donald Regan amp oldid 1136002909, wikipedia, wiki, book, books, library,
