{"id":4432,"date":"2007-05-27T17:36:32","date_gmt":"2007-05-27T17:36:32","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2007\/05\/former_reagan_budget_head_stoc_1"},"modified":"2007-05-27T17:36:32","modified_gmt":"2007-05-27T17:36:32","slug":"former-reagan-budget-head-stoc-1","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/former-reagan-budget-head-stoc-1\/","title":{"rendered":"Former Reagan Budget Head Stockman Charged With Securities Fraud"},"content":{"rendered":"

\t\t\t\tDavid A. Stockman was chief architect of President Ronald Reagan’s economic plan (a plan dubbed “voodoo economics” by George H.W. Bush). Stockman then became a high-profile Wall Street money man, but was indicted Monday on charges of conspiracy, securities fraud and obstruction of justice.<\/p>\n

Stockman, 60, who faces the prospect of three decades in prison, is accused of defrauding investors and banks during his tenure as head of Collins & Aikman, a large auto-parts maker that descended into bankruptcy in 2005.<\/p>\n

First elected to the House of Representatives at age 30, after serving only two terms in the House, Stockman was then named Reagan’s first director of the Office of Management and Budget. He was the highly visible spokesman for the “trickle-down” economic theory of the Reagan administration. However, private conversations over budget with a journalist caused Reagan to, as Stockman states, take him to the “woodshed”. He soon matriculated to the New York world of investment banking.<\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

David A. Stockman was chief architect of President Ronald Reagan’s economic plan (a plan dubbed “voodoo economics” by George H.W. Bush). Stockman then became a high-profile Wall Street money man, but was indicted Monday on charges of conspiracy, securities fraud and obstruction of justice. Stockman, 60, who faces the prospect of three decades in prison, […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3790,3738],"tags":[],"class_list":["post-4432","post","type-post","status-publish","format-standard","hentry","category-crime","category-investor-fraud"],"yoast_head":"\nFormer Reagan Budget Head Stockman Charged With Securities Fraud — Investor Lawyers Blog — May 27, 2007<\/title>\n<meta name=\"description\" content=\"David A. 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