Richard Darman

Richard Darman

January, 1983
28th Director of the Office of Management and Budget
In office
January 25, 1989 – January 20, 1993
President George H. W. Bush
Preceded by Joseph R. Wright, Jr.
Succeeded by Leon E. Panetta
United States Deputy Secretary of the Treasury
In office
1985–1987
President Ronald Reagan
Preceded by R.T. McNamar
Succeeded by M. Peter McPherson
White House Staff Secretary
In office
June 17, 1981 – 1985
President Ronald Reagan
Preceded by Richard G. Hutcheson III
Succeeded by David L. Chew
Personal details
Born Richard Gordon Darman
(1943-05-10)May 10, 1943
Charlotte, North Carolina, U.S.
Died January 25, 2008(2008-01-25) (aged 64)
Washington, D.C., U.S.
Resting place None
Nationality American
Political party Republican
Spouse(s) Kathleen Emmet Darman (m. 1967)
Children William T. E. Darman
Jonathan W. E. Darman
C. T. Emmet Darman
Alma mater Harvard University
Occupation Economist; Businessman; Government administrator

Richard Gordon Darman (May 10, 1943 – January 25, 2008) was an American businessman and government official who served in senior positions during the presidencies of Ronald Reagan and George H. W. Bush.

Life and career

Darman was born in Charlotte, North Carolina, the son of Eleanor F. and Morton H. Darman.[1][2] His father was a textile mill owner. He attended Harvard University in 1964, and he married to the former Kathleen Emmet on September 1, 1967; they had three sons, William T. E., Jonathan W. E. and C. T. Emmet Darman.

Darman was regarded as provocative and intelligent by Washington insiders, but was criticized by some economists for being too focused on the budget deficit and was sometimes blamed for convincing Bush to renege on his promise of "Read my lips: No new taxes", which is widely believed to have contributed to Bush's defeat in the election of 1992. Darman had previously tried to stop Bush from making the promise during the 1988 campaign.[3]

Prior to serving as Director of the Office of Management and Budget under the first President Bush from 1989 to 1993, Darman held other governmental positions, including: Assistant to the President of the United States and White House Staff Secretary[4] (1981–85); Deputy Secretary of the Treasury (1985–87); and Assistant Secretary of Commerce (1976–77). He also was a member of the faculty of Harvard Kennedy School on three different occasions between 1977 and 2002.

Darman graduated with honors from Harvard College in 1964 and from the Harvard Graduate School of Business Administration in 1967.

Since May 1, 2003, Darman had been Chairman of the Board of AES Corporation, an electric utility company.

From 1993 until his death in 2008, Darman was a partner and managing director of the Carlyle Group. During that period, Carlyle went from being a small firm with 26 employees to one of the world's largest and most successful private equity firms.

Darman was a trustee of the Loomis Sayles Funds, the IXIS Funds, and the Howard Hughes Medical Institute. He served as Chairman of the Board of the Smithsonian National Museum of American History.

Darman died on January 25, 2008, at the age of 64, following a battle with acute myelogenous leukemia.

References

  1. ↑
  2. ↑ http://www.legacy.com/obituaries/wickedlocal-lincoln/obituary.aspx?n=eleanor-f-darman&pid=145618328
  3. ↑ Greene, John Robert (2000). The Presidency of George Bush. Lawrence: University Press of Kansas. p. 37. ISBN 0-7006-0993-8.
  4. ↑ "Appointment of Richard G. Darman as Assistant to the President and Deputy to the Chief of Staff". The American Presidency Project. Retrieved October 8, 2014.

Further reading

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Political offices
Preceded by
Richard G. Hutcheson III		 White House Staff Secretary
1981–1985 		Succeeded by
David L. Chew
Preceded by
R.T. McNamar		 United States Deputy Secretary of the Treasury
1985–1987 		Succeeded by
M. Peter McPherson
Preceded by
Joseph Robert Wright, Jr.		 Director of the Office of Management and Budget
Served under: George H.W. Bush
1989–1993 		Succeeded by
Leon Panetta
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