Richard Darman

Richard Darman

Richard Gordon Darman (born May 10, 1943 in Charlotte , North Carolina , † January 25, 2008 in McLean , Virginia ) was an American economist and business manager , who eventually became the director of the Office of Management and Budget of US President George Bush convinced to give up his “no new tax promise” ( ' Read my lips: no new taxes ' ).

Life

Contributor to Elliot L. Richardson

After attending Rivers Country Day School in Weston (Massachusetts) , Darman studied from 1960 to 1964 at Harvard University , completing this degree with a Bachelor of Arts . He then completed a postgraduate degree in business administration at Harvard Business School in 1967 with a Master of Business Administration (MBA). He subsequently worked in the private sector and then in government service since 1970, where he was an advisor to Elliot L. Richardson during his tenures as Minister of Health, Education and Welfare , Secretary of Defense and US Attorney General . The loyalty to Richardson was so great that Darman resigned from government after President Richard Nixon ordered Richardson in October 1973 to dismiss the special investigator in the Watergate affair , Archibald Cox , who instead refused on October 20, 1973 from resigned his ministerial office.

He then joined the Woodrow Wilson International Center for Scholars , but returned to government service in 1976 after Elliot L. Richardson became Secretary of Commerce in President Gerald Ford's cabinet . Darman himself was Undersecretary of State in the Ministry of Commerce ( Assistant Secretary of Commerce ) and held this post until the end of Ford's presidency in January 1977th

Vice Minister of Finance, OMB Director and Economic Manager

Richard Darman (right) alongside Dick Cheney and George Bush (1990)

He then was a lecturer in public policy at the John F. Kennedy School of Government at Harvard University , before he became his assistant after the election of Ronald Reagan in 1981 and held this position between 1981 and 1985. He then served as the second term of Reagan Deputy Finance Minister ( Deputy Secretary of the Treasury ) and in this capacity until 1987 closest adviser of his close friend James Baker .

In 1987 he returned briefly to the private sector and was Managing Director of Lehman Brothers until 1989 . He was then appointed director of the Office of Management and Budget (OMB) in his cabinet by President George Bush in January 1989 and held this position until the end of Bush's tenure in January 1993. He received particular respect and recognition when he in 1990 " Read my lips: no new taxes" sharply criticized the president and finally got him to give up this promise in view of the economic situation.

After the end of Bush's tenure, he switched back to the private sector and, from 1993 until his death, was a partner and senior advisor to the Carlyle Group , one of the largest US private equity firms based in Washington, DC. Most recently, he was also of 2003 to 2008 Chairman of the Board of Directors of AES Corporation . Darman, who was also a member of the Boards of Directors of the IXIS Advisor Funds and the Committee for a Responsible Federal Budget (CRFB), was also involved in the Council on Foreign Relations and the Trilateral Commission .

At times, Darman, who died of leukemia , was also a public service professor at Harvard University.

Web links

Commons : Richard Darman  - Collection of Images, Videos and Audio Files

• Richard Darman in nndb (English)
• THE NEW YORK TIMES: Richard G. Darman, 64, Aide for 5 Presidents, Dies (Jan 26, 2008)
• NEWSWEEK: 'A Great Public Servant'. Remembering Richard Darman (January 25, 2008)
• THE WASHINGTON POST: In Heat of Battle, Darman Put Taxes Back on the Table (January 25, 2008)
• "Tribute to Richard Darman - Public Servant, Counselor, Friend" (acknowledgment on the homepage of the John F. Kennedy School of Government)