Donald Regan was an American politician and businessman who served as the 66th United States Secretary of the Treasury from 1981 to 1985 and the White House Chief of Staff from 1985 to 1987.
Regan was born in Cambridge, Massachusetts on December 21st, 1918. He attended Harvard College, graduating in 1940 with a degree in economics. After college, he served in the United States Navy during World War II, earning the rank of lieutenant commander. After the war, he went into business, joining the Merrill Lynch brokerage firm in 1946. By the late 1950s, he had risen to become the company's president and CEO.
In 1981, President Reagan appointed Regan to serve as Secretary of the Treasury. During his tenure, Regan was instrumental in passing the Economic Recovery Tax Act, which was a major tax cut for businesses and individuals. He also played a role in the negotiation of the Plaza Accord, an agreement between five major nations to reduce the value of the US dollar.
In 1985, Regan was appointed as the White House Chief of Staff. During his time in this position, he was involved in the Iran-Contra Affair, which involved the illegal sale of weapons to Iran in an attempt to secure the release of American hostages in Lebanon. He was widely criticized for his involvement in the affair, and resigned in 1987.
Following his resignation, Regan wrote a memoir titled For the Record: From Wall Street to Washington. He also wrote several successful books on personal finance. Regan died on June 10th, 2003 in Williamsburg, Virginia.
Regan was an influential figure in American politics and business, and his legacy continues to be felt today. He was a strong advocate for lower taxes and free markets, and his work helped shape the economic policies of the Reagan Administration. His tenure as Secretary of the Treasury and Chief of Staff has been remembered fondly by many, and he is remembered as a hardworking and dedicated public servant.
