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Nicholas Frederick Brady (born April 11, 1930) is an American politician from the state of New Jersey, who was the United States Secretary of the Treasury under Presidents Ronald Reagan
Ronald Reagan
and George H. W. Bush, and is also known for articulating the Brady Plan
Brady Plan
in March 1989. In 1982, he was appointed to succeed Harrison A. Williams as a United States
United States
Senator until a special election could be held. He served in the Senate for 8 months.

Contents

1 Early life 2 Career 3 Personal life 4 References

Early life[edit] Brady was born in Manhattan, New York City, the son of James Cox Brady, Jr., and his wife, Eliot Chace. He was named for his paternal great-uncle, businessman and philanthropist Nicholas Frederic Brady.[1] His great-grandfather was industrialist Anthony N. Brady.[2] He grew up on an estate in Far Hills, New Jersey.[3] After graduating from St. Mark's School, Southborough, Massachusetts, Brady attended Yale University
Yale University
(B.A., 1952), where he was a member of Chi Psi Fraternity. He received his M.B.A. from Harvard University
Harvard University
in 1954.[citation needed] Career[edit] Brady's political career began when he was appointed by Governor Thomas Kean
Thomas Kean
as a Republican Senator from New Jersey
New Jersey
to fill the vacancy caused by the resignation of Harrison A. Williams, Jr. He served from April 12, 1982 through December 27, 1982 and did not seek election to a full term. During his time in the Senate he was a member of the Armed Services Committee and the Banking, Housing and Urban Affairs Committee. In 1984 Reagan appointed Brady to be Chairman of the President's Commission on Executive, Legislative and Judicial Salaries. He also served on the President's Commission on Strategic Forces (1983), the National Bipartisan Commission on Central America (1983), the Commission on Security and Economic Assistance (1983), and the Blue Ribbon Commission on Defense Management (1985). He also chaired the Presidential Task Force on Market Mechanisms in 1987. Brady became the 68th Secretary of the Treasury on September 15, 1988, and served during the last four months of Reagan's presidency and throughout the Bush administration. In 1989, after a period of years in which a number of developing countries, including Mexico, defaulted on their international debt, he developed the Brady Plan
Brady Plan
to help them sell dollar-denominated bonds. These became known as Brady Bonds. Early in his tenure as Treasury Secretary, the New York Times
New York Times
wrote that Brady had a rocky start and was "bland on television and awkward as a public speaker." But as a close friend and advisor to President Bush he had considerable influence. Chuck Schumer, a Democratic congressman at the time, expressed the prevailing view: "Is he the smartest guy in the world? No. Did he make some major screwups? Yes. But Brady is one of the few people in the Government trying to do real substance. On savings and loan, he stepped up to the plate and swung at balls. The same with the third world debt. I'm not sure I agree with his plan, but at least he tried to do something. So, in an Administration where so much seems aimed at image and hype, Brady does deserve a lot of credit." [4] He is a former Chairman of the Board of Dillon Read & Co. Inc. (investment banking) (1970–1988) and a former Chairman of Purolator, Inc. (filtration products) (1971–1987). Brady's career in the banking industry spanned 34 years. He joined Dillon, Read & Co. in New York City
New York City
in 1954, rising to Chairman of the Board. He has been the Chairman of Darby Overseas Investments, Ltd. and Darby Technology Ventures Group, LLC, investment firms, since 1994. Mr. Brady is Chairman of Franklin Templeton Investment Funds (an international investment management company), a director of Hess Corporation (an exploration and production company) and Holowesko Partners Ltd. (investment management companies). He is also a director of the oilfield services company Weatherford International
Weatherford International
since 2004. He has been a Director of the NCR Corporation, the MITRE Corporation, and the H.J. Heinz Company, among others. His father had been a major figure in Thoroughbred
Thoroughbred
horse racing both in the United States
United States
and in Europe. Although never involved with the sport at the same level as his father, Nicholas Brady served for a time as chairman of The Jockey Club. Mill House (Stable) is the nom-de-course for Brady's racing operation.[5] He has also served as a trustee of Rockefeller University
Rockefeller University
and a member of the Board of the Economic Club of New York. He is a member of the Council on Foreign Relations, Inc and a former member of the Steering Committee of the Bilderberg Group.[6] He is a former trustee of the Boys' Club of Newark. Personal life[edit] Nicholas F. Brady
Nicholas F. Brady
and his wife, the former Katherine Douglas (known as Kitty), have four children. References[edit]

^ A Son to Mrs. James Cox Brady Jr., NYTimes.com; accessed March 29, 2015. ^ Sullivan, Joseph F. (April 13, 1982). "Quiet Senator From New Jersey". New York Times.  ^ Quint, Michael. "The Financier 'Who Knows What Is Going On'", The New York Times, August 6, 1988; accessed November 27, 2007. "The great grandson of Anthony N. Brady, an Irish emigrant who was a friend and business associate of Thomas A. Edison, Nicholas Brady grew up on a large estate in Far Hills, N.J., that borders on the Dillon family estate." ^ Rosenbaum, David (November 19, 1989). "The Treasury's 'Mr. Diffident'". New York Times. Retrieved October 9, 2014.  ^ Woodbine Entertainment – Retrieved June 26, 2011 Archived June 20, 2011, at the Wayback Machine. ^ "Former Steering Committee Members". bilderbergmeetings.org. Bilderberg Group. Retrieved February 8, 2014. 

U.S. Senate

Preceded by Harrison A. Williams U.S. Senator (Class 1) from New Jersey 1982 Served alongside: Bill Bradley Succeeded by Frank Lautenberg

Political offices

Preceded by James Baker U.S. Secretary of the Treasury Served under: Ronald Reagan, George H.W. Bush 1988–1993 Succeeded by Lloyd Bentsen

v t e

United States
United States
Secretaries of the Treasury

18th century

Hamilton Wolcott Dexter

19th century

Gallatin Campbell Dallas Crawford Rush Ingham McLane Duane Taney Woodbury Ewing Forward Spencer Bibb Walker Meredith Corwin Guthrie Cobb Thomas Dix Chase Fessenden McCulloch Boutwell Richardson Bristow Morrill Sherman Windom Folger Gresham McCulloch Manning Fairchild Windom Foster Carlisle Gage

20th century

Shaw Cortelyou MacVeagh McAdoo Glass Houston Mellon Mills Woodin Morgenthau Vinson Snyder Humphrey Anderson Dillon Fowler Barr Kennedy Connally Shultz Simon Blumenthal Miller Regan Baker Brady Bentsen Rubin Summers

21st century

O'Neill Snow Paulson Geithner Lew Mnuchin

v t e

United States
United States
Senators from New Jersey

Class 1

Elmer Rutherfurd Davenport Schureman Ogden Condit Lambert Wilson Southard McIlvaine Bateman Dickerson Southard W. Dayton R. F. Stockton Thomson Field J. Wall Wright F. T. Frelinghuysen J. Stockton Randolph Sewell Blodgett J. Smith J. Kean Martine J. Frelinghuysen Edwards H. Kean Moore Milton Barbour Walsh A. Smith Williams Brady Lautenberg Corzine Menendez

Class 2

Paterson Dickinson F. Frelinghuysen R. Stockton J. Dayton Kitchell Condit Dickerson T. Frelinghuysen G. Wall Miller Wright Ten Eyck J. Stockton Cattell F. T. Frelinghuysen McPherson Sewell Dryden Briggs Hughes Baird Edge Baird Jr. Morrow Barbour Smathers Hawkes Hendrickson Case Bradley Torricelli Lautenberg Chiesa Booker

v t e

Cabinet of President George H. W. Bush
George H. W. Bush
(1989–93)

Cabinet

Secretary of State

James A. Baker (1989–92) Lawrence Eagleburger
Lawrence Eagleburger
(1992–93)

Secretary of the Treasury

Nicholas F. Brady
Nicholas F. Brady
(1989–93)

Secretary of Defense

Dick Cheney
Dick Cheney
(1989–93)

Attorney General

Richard L. Thornburgh (1989–91) William Pelham Barr (1991–93)

Secretary of the Interior

Manuel Lujan Jr.
Manuel Lujan Jr.
(1989–93)

Secretary of Agriculture

Clayton K. Yeutter (1989–91) Edward R. Madigan (1991–93)

Secretary of Commerce

Robert Mosbacher
Robert Mosbacher
(1989–92) Barbara Hackman Franklin (1992 – 93)

Secretary of Labor

Elizabeth Dole
Elizabeth Dole
(1989 – 91) Lynn Martin (1991–93)

Secretary of Health and Human Services

Louis W. Sullivan (1989–93)

Secretary of Housing and Urban Development

Jack Kemp
Jack Kemp
(1989–93)

Secretary of Transportation

Samuel K. Skinner
Samuel K. Skinner
(1989–92) Andrew Card
Andrew Card
(1992–93)

Secretary of Energy

James D. Watkins
James D. Watkins
(1989–93)

Secretary of Education

Lauro F. Cavazos (1989–90) Lamar Alexander
Lamar Alexander
(1991–93)

Secretary of Veterans Affairs

Ed Derwinski
Ed Derwinski
(1989–92)

Cabinet-level

Vice President

Dan Quayle
Dan Quayle
(1989–93)

White House Chief of Staff

John H. Sununu
John H. Sununu
(1989–91) Samuel K. Skinner
Samuel K. Skinner
(1991–92) James A. Baker (1992–93)

Director of the Office of Management and Budget

Richard Darman
Richard Darman
(1989–93)

Administrator of the Environmental Protection Agency

William Reilly (1989–92) None (1992–93)

Trade Representative

Carla A. Hills (1989–93)

Ambassador to the United Nations

Thomas Pickering (1989–92) Edward Perkins (1992–93)

Assistants to the President for National Security Advisor

Brent Scowcroft
Brent Scowcroft
(1989–93)

Director of the Office of National Drug Control Policy

William J. Bennett (1989–91) Bob Martinez
Bob Martinez
(1991–93)

Chairperson of the Council of Economic Advisers

Michael Boskin
Michael Boskin
(1989–93)

v t e

Cabinet of President Ronald Reagan
Ronald Reagan
(1981–89)

Cabinet

Secretary of State

Alexander M. Haig Jr. (1981–82) George P. Shultz
George P. Shultz
(1982–89)

Secretary of the Treasury

Donald T. Regan (1981–85) James A. Baker (1985–88) Nicholas F. Brady
Nicholas F. Brady
(1988–89)

Secretary of Defense

Caspar W. Weinberger (1981–87) Frank C. Carlucci (1987–89)

Attorney General

William French Smith
William French Smith
(1981–85) Edwin Meese
Edwin Meese
(1985–88) Richard L. Thornburgh (1988–89)

Secretary of the Interior

James G. Watt
James G. Watt
(1981–83) William P. Clark (1983–85) Donald P. Hodel
Donald P. Hodel
(1985–89)

Secretary of Agriculture

John R. Block (1981–86) Richard E. Lyng (1986–89)

Secretary of Commerce

Malcolm Baldrige (1981–87) C. William Verity (1987–89)

Secretary of Labor

Raymond J. Donovan
Raymond J. Donovan
(1981–85) William E. Brock III (1985–87) Ann Dore McLaughlin (1987–89)

Secretary of Health and Human Services

Richard S. Schweiker (1981–83) Margaret M. Heckler (1983–85) Otis Bowen
Otis Bowen
(1985–89)

Secretary of Housing and Urban Development

Samuel R. Pierce (1981–89)

Secretary of Transportation

Drew Lewis (1981–83) Elizabeth H. Dole (1983–87) James H. Burnley IV
James H. Burnley IV
(1987–89)

Secretary of Energy

James B. Edwards
James B. Edwards
(1981–83) Donald P. Hodel
Donald P. Hodel
(1983–85) John S. Herrington
John S. Herrington
(1985–89)

Secretary of Education

Terrel H. Bell (1981–85) William J. Bennett (1985–88) Lauro F. Cavazos (1988–89)

Cabinet-level

Vice President

George H. W. Bush
George H. W. Bush
(1981–89)

White House Chief of Staff

James A. Baker (1981–85) Donald T. Regan (1985–87) Howard H. Baker Jr. (1987–88) Kenneth M. Duberstein (1988–89)

Director of the Office of Management and Budget

David Stockman
David Stockman
(1981–85) James C. Miller III
James C. Miller III
(1985–88) Joseph R. Wright Jr. (1988–89)

Administrator of the Environmental Protection Agency

Anne M. Gorsuch (1981–83) William D. Ruckelshaus (1983–85) Lee M. Thomas
Lee M. Thomas
(1985–89)

Director of Central Intelligence

William J. Casey
William J. Casey
(1981–87) William H. Webster
William H. Webster
(1987–89)

Ambassador to the United Nations

Jeane Kirkpatrick
Jeane Kirkpatrick
(1981–85) Vernon A. Walters
Vernon A. Walters
(1985–89)

Trade Representative

William E. Brock III (1981–85) Clayton K. Yeutter (1985–89)

Chairperson of the Council of Economic Advisers

Murray L. Weidenbaum (1981–82) Martin S. Feldstein (1982–84) Beryl W. Sprinkel (1985–89)

Authority control

WorldCat Identities VIAF: 62349044 LCCN: no89002294 GND: 118995995 US Congr

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