Charlie's Greenroom with Ray Dalio. Ray Dalio: Man and machine. David Stockman economy Q&A: Economic disaster in the works. NEW YORK – He was an architect of one of the biggest tax cuts in U.S. history.
He spent much of his career after politics using borrowed money to take over companies. He targeted the riskiest ones that most investors shunned — car-parts makers, textile mills. That is one image of David Stockman, the former White House budget director under Ronald Reagan who, after resigning in protest over deficit spending, made a fortune in corporate buyouts. But spend time with him and you discover this former wunderkind of the Reagan revolution is many other things now — an advocate for higher taxes, a critic of the work that made him rich and a scared investor who doesn't own a single stock for fear of another financial crisis.
STORY: Central banks' $8.8 trillion is a global economic lifeline.