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David A. Stockmanis the ultimate Washington insider turned iconoclast. He began his career in Washington as a young man and quickly rose through the ranks of the Republican Party to become the Director of the Office of Management and Budget under President Ronald Reagan. After leaving the White House, Stockman had a 20-year career on Wall Street. Stockman's career in Washington began in 1970, when he served as a special assistant to U.S. Representative, John Anderson of Illinois. From 1972 to 1975, he was executive director of the U.S. House of Representatives Republican Conference. Stockman was elected as a Michigan Congressman in 1976 and held the position until his resignation in January 1981. He then became Director of the Office of Management and Budget under President Ronald Reagan, serving from 1981 until August 1985. Stockman was the youngest cabinet member in the 20th century. Although only in his early 30s, Stockman became well known to the public during this time concerning the role of the federal government in American society. After leaving government, Stockman joined Wall Street investment bank Salomon Bros. He later became one of the original partners at New York-based private equity firm, The Blackstone Group. Stockman left Blackstone in 1999 to start his own private equity fund based in Greenwich, Connecticut. Stockman is the author of numerousNew York Timesbestselling books andalso provides private research and analysis to professional investors and firms globally through ""David Stockman's Contra Corner,"" his subscriber advisory relating to investing, global economics, and public policy. Stockman was born in Ft. Hood, Texas. He received his B.A. from Michigan State University and pursued graduate studies at Harvard Divinity School. He lives with his wife Jennifer Blei Stockman, and they have two daughters, Rachel and Victoria. Helives & works in the Miami, Florida metro area. www.davidstockmanscontracorner.com
Praise for The Great Deformation: The Corruption of Capitalism in America by David Stockman New York Times Bestseller His rhetoric in a recent New York Times op-ed piece ignites like Seal Team Six coming at you, flash grenades exploding, assault weapons blazing. No wonder he triggers wild angry, hatred and revenge. Yes, he's a truth-teller. And truth hurts, flushing out his enemies. Why? They're sucking trillions from Americans. So you hate him. Counterattack. Big mistake. Don't dismiss David Stockman. He's no Kim Jong-Un blow-hard. -- Washington Post Stockman devotes some of the book to the past five years, joining multiple previous authors who have presented their nominations for the villains and heroes of the 2008 economic collapse. As a book critic and investigative reporter, I have absorbed a dozen of those previous books. Stockman's is my favorite because of his original research, the context he presents (starting with the economic depression of the 1930s), his former insider status, and his apparent political non-partisanship during the endeavor. -- Steve Weinberg, USA Today I'd read this book 10 times before I read another possible presidential candidate's memoir of how his Real American Story schooled him in the Audacity of Hope. ...a coherent vision of a World Without the Fed. -- David Weigel, Slate In The Great Deformation, David Stockman - former US congressman and budget director under Ronald Reagan - tells the story of the recent crisis, and takes direct aim at the conventional wisdom that credits government policy and Ben Bernanke with rescuing Americans from another Great Depression. In this he has made a seminal contribution. But he does much more than this. He offers a sweeping, revisionist account of US economic history from the New Deal to the present. He refutes widely held myths about the Reagan years and the demise of the Soviet Union. He covers the growth and expansion of the warfare state. He shows precisely how the Fed enriches the powerful and shelters them from free markets. He demonstrates the flimsiness of the present so-called recovery. Above all, he shows that attempts to blame our economic problems on capitalism are preposterous, and reveal a complete lack of understanding of how the economy has been deformed over the past several decades...Thanks to The Great Deformation, not a shred of the regime's propaganda is left standing. This is truly the book we have been waiting for, and we owe David Stockman a great debt. -- Paul B. Farrell, MarketWatch This thought-provoking book will contribute to important debates on these issues. -- Booklist Stockman performs a real service when he debunks the myths that have been associated with Reagan's conservatism and promotes Eisenhower's fiscal and military conservatism.... Stockman forcefully conveys enormous amounts of knowledge. -- Kirkus Reviews Stockman produces a persuasive and deeply relevant indictment of a system dangerously akilter.... What Stockman has written is a book that makes clear we are that future generation of the past, inheritors of all the wishful thinking, simple illogic and flawed compromises that produced the near-term benefits our parents and grandparents worried about but ultimately wanted. And now it's payback time. -- LewRockwell.com This is a history book. It's a detailed account of the key events since the Depression that have shaped modern finance. I love history, and I'm familiar with those events. Stockman's spin on financial history makes for a very good read. There's something for everyone. -- Bruce Krasting For anyone whose economics are Austrian, and who agrees with Stockman that crony capitalism and corruption have led both fiscal and monetary policies into a cycle of ever-increasing stimulus and ziggurats of debt, The Great Deformation is gloomily persuasive - and bodes ill for the future. -- Reuters Breakingviews Agree with Stockman or not, one can't deny that he's a colorful writer! -- Townhall.com Stockman, veteran of the Reagan White House and Wall Street, offers his self-described polemic, a wide-ranging indictment of the American government-economic complex; free markets and democracy have been under long-term attack, and the author explains why we have myriad problems, perhaps intractable. He indicates the book contains much original interpretation of financial and public policy events and trends of the last century, even a revisionist framework. Stockman concludes his lengthy controversial argument with: the cure . . . is to return to sound money and fiscal rectitude and to correct the great error initiated during the New Deal . . . . In pursuing humanitarian purposes the state cannot and need not attempt to manage the business cycle or goose the free market with stimulants for more growth and jobs; nor can it afford the universal entitlements of social insurance. Its job is to be a trustee for citizens left behind, maintaining a sturdy, fair and efficient safety net. This thought-provoking book will contribute to important debates on these issues. --Mary Whaley, Booklist Praise for The Triumph of Politics: Why the Reagan Revolution Failed by David Stockman New York Times Bestseller This memoir is a bitter review of Stockman's years in the Reagan Administration. It is a book with few heroes and many fools. The author claims naivete as his excuse. Although the narrative is somewhat confusing, overall, its backstage view of policymaking leaves one discouraged, even frightened by the superficiality. The book is a necessary library purchase for two reasons: the notoriety of the book and its author, and the insider's view of key policies still in place and key personalities still in power. -- Richard C. Schiming, Library Journal
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