Everything about Nicholas F Brady totally explained
Nicholas Frederick Brady (born
April 11 1930, in
New York City) was
United States Secretary of the Treasury under Presidents
Ronald Reagan and
George H. W. Bush, and is also known for articulating the
Brady Plan in March 1989.
The son of
James Cox Brady, Jr., his great-grandfather was industrialist
Anthony N. Brady. Nicholas Brady grew up on an estate in
Far Hills, New Jersey. He was educated at
Yale University (B.A., 1952) and
Harvard University (M.B.A., 1954). He and his wife, Katherine, have four children.
Brady's political career began when he was appointed as a
Republican Senator from
New Jersey to fill the vacancy caused by the resignation of
Harrison A. Williams, Jr. He served from
April 20 1982 through
December 27 1982 and didn't 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. As of 2008 he's the last Republican to serve in the
US Senate representing
New Jersey.
In 1984 President 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. 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 to help them sell
dollar-denominated bonds. These became known as
Brady Bonds.
Secretary Brady's career in the
banking industry spanned 34 years. He joined
Dillon, Read & Co. in
New York City in 1954, rising to Chairman of the Board. 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 horse racing both in the 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.
He has also served as a trustee of
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. He is a former trustee of the Boys' Club of Newark.
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