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Ronald Reagan: Nomination of Preston Martin To Be a Member of the Board of Governors of the Federal Reserve System, and Designation as Vice Chairman
Ronald
Ronald Reagan
Nomination of Preston Martin To Be a Member of the Board of Governors of the Federal Reserve System, and Designation as Vice Chairman
January 11, 1982
Public Papers of the Presidents
Ronald Reagan<br>1982: Book I
Ronald Reagan
1982: Book I
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The President today announced his intention to nominate Preston Martin to be a member of the Board of Governors of the Federal Reserve System for a term of 14 years from February 1, 1982, and to be Vice Chairman for a term of 4 years. He would succeed Frederick H. Schultz, term expiring.

Dr. Martin is a member of the President's Commission on Housing. He founded, organized, and staffed a new Sears company, Seraco Enterprises. Seraco, an amalgam of the words "Sears Allstate Companies," is a holding company that provides capital and overall planning of five real estate and financial subsidiaries. He is a member of the board of directors of Sears, Roebuck and Co.

Dr. Martin is a former member of the Federal Home Loan Mortgage Corporation Advisory Committee. He served as Chairman and Chief Operating Officer of the Federal Home Loan Bank Board in 1969-72. He served then-Governor Ronald Reagan as his first Savings and Loan Commissioner in 1967-69. In 1954-66 he was involved in homebuilding, shopping center, mortgage finance, and savings and loan "start up" organizations.

He graduated from the University of Southern California (B.S, 1947; M.B.A., 1948) and Indiana University (Ph.D., 1952). He was born December 4, 1923, and resides in Atherton, Calif.



Citation: Ronald Reagan: "Nomination of Preston Martin To Be a Member of the Board of Governors of the Federal Reserve System, and Designation as Vice Chairman ," January 11, 1982. Online by Gerhard Peters and John T. Woolley, The American Presidency Project. http://www.presidency.ucsb.edu/ws/?pid=42187.
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