Nation: A Broker for Treasury

Whose economic views are mostly unknown

The ad for the nation's largest brokerage house reads MERRILL LYNCH IS BULLISH ON AMERICA. In naming a Treasury Secretary, Ronald Reagan wanted to send a similar message of confidence to the nation, especially its business community. Who better to carry it than Merrill Lynch's own chairman, Donald Thomas Regan?

The choice came at the eleventh hour, after former Treasury Secretary William Simon and Citicorp Chairman Walter Wriston had been counted out. Some members of Reagan's transition team were surprised and soured by the decision. They felt that...

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