What ever happened to… David Stockman?
March 26th 2007 07:43 pm
Old-timers will remember David Stockman. He was Ronald Reagan’s Budget Director and was on a quest to destroy Amtrak. So what is he up to now? Well, Mr. Stockman was indicted today and charged with a total of eight counts of conspiracy, bank fraud, securities fraud, wire fraud and obstruction while chairman of Collins & Aikman Corp., an auto-parts maker. Mr. Stockman faces up to 20 years in prison. He pleaded not guilty and was released on $1 million bond.
As a (very) short trip down memory lane, here are a few quotes from Mr. Stockman from 1985:
There are few programs I can think of that rank lower than Amtrak in terms of the good they do, the purpose they serve and the national need they respond to.
Without total subsidy termination and the opportunities offered through liquidation of Amtrak’s assets, the Federal government will continue to pour billions of dollars more into the Amtrak mobile money-burning machine.
If we don’t have the courage, the foresight, the comprehension of our problem that is sufficient enough to get rid of Amtrak, I don’t think we’re going to shave much off the budget at all and we’re going to face either enormous deficits or down the road a whopping tax increase. Amtrak is the litmus indicator.
Do you remember David Stockman from the mid-1980’s?
- Yes: 23 (85%)
- No: 1 (4%)
- I’m too young to remember him: 3 (11%)
Total Voters: 27
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coffeelen responded on 27 Mar 2007 at 8:47 pm #
Mr. Stockman was the “supply side” economics guy that sold the Reaganites on the biggest budget deficits this country had ever seen. Those deficits were small compared to the deficit run up by “Dubya”. Stockman was forced out of the Reagan administration and whatever he did (or didn’t do) must have been pretty egregious since he did not resurface in subsequent administrations. It certainly appears he turned to crookery and has gotten caught. Move over, Dennis Kozlowski, you have company coming!