Simon, William Edward

Simon, William Edward,

1927–2000, U.S. secretary of the treasury (1974–77), b. Paterson, N.J. He served (1946–48) in the U.S. army in Japan, graduated from Lafayette College (1952), and became a Wall Street bond dealer. Recognized in the financial world as a leading expert on government bonds, Simon served (1973–74) as deputy secretary of the Treasury under President Richard Nixon before succeeding George ShultzShultz, George Pratt,
1920–, American public official, b. New York City, grad. Princeton, 1942, Ph.D., Massachusetts Institute of Technology, 1949. A professor of industrial relations, Shultz taught at the Massachusetts Institute of Technology (1946–57) and the Univ.
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 as treasury secretary. He also briefly directed (1973–74) the Federal Energy Office during the critical months of the Arab oil embargo. He later headed the U.S. Olympic committee and made millions investing in leveraged buyoutsleveraged buyout,
the takeover of a company, financed by borrowed funds. Often, the target company's assets are used as security for the loans acquired to finance the purchase.
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 during the 1980s.
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