Wayne A. Abernathy, Wild Bells
Wayne A. Abernathy is a former U.S. Treasury Assistant Secretary for Financial Institutions under President George W. Bush, receiving the Alexander Hamilton Award in recognition of his service. In that office he was also a member of the Board of Directors of the Securities Investor Protection Corporation. Prior to his work at the Treasury, Mr. Abernathy served as Staff Director of the Senate Banking Committee, under Chairman Phil Gramm.
Following his service at the Treasury, Mr. Abernathy worked for 15 years on the staff of the American Bankers Association, as Executive Vice President for Financial Institutions Policy and Regulatory Affairs.
Previous experience with the Senate Banking Committee includes serving as Staff Director of the Subcommittee on Securities during 1995-1998. From 1989 until 1994, Mr. Abernathy was a Republican economist for the committee. He previously worked as a senior legislative assistant for Senator Gramm during 1987-1989 and as an economist for the Banking Committee’s Subcommittee on International Finance and Monetary Policy during 1981-1986, under Chairman Jake Garn.
Mr. Abernathy earned his bachelor’s degree in International Studies from The Johns Hopkins University in 1978. In 1980, he received a master’s degree in International Studies from the School of Advanced International Studies of The Johns Hopkins University.
Chairman of the Securities and Exchange Commission
Paul S. Atkins was sworn into office as the 34th Chairman of the Securities and Exchange Commission on April 21, 2025, after being nominated by President Donald J. Trump on January 20, 2025, and confirmed by the U.S. Senate on April 9, 2025.
Prior to returning to the SEC, Chairman Atkins was most recently chief executive of Patomak Global Partners, a company he founded in 2009. Chairman Atkins helped lead efforts to develop best practices for the digital asset sector. He served as an independent director and non-executive chairman of the board of BATS Global Markets, Inc. from 2012 to 2015.
Chairman Atkins was appointed by President George W. Bush to serve as a Commissioner of the SEC from 2002 to 2008. During his tenure, he advocated for transparency, consistency, and the use of cost-benefit analysis at the agency. Chairman Atkins also represented the SEC at meetings of the President’s Working Group on Financial Markets and the U.S.-EU Transatlantic Economic Council. From 2009 to 2010, he was appointed a member of the Congressional Oversight Panel for the Troubled Asset Relief Program.
Before serving as an SEC Commissioner, Chairman Atkins was a consultant on securities and investment management industry matters, especially regarding issues of strategy, regulatory compliance, risk management, new product development, and organizational control.
From 1990 to 1994, Chairman Atkins served on the staff of two chairmen of the SEC, Richard C. Breeden and Arthur Levitt, ultimately as chief of staff and counselor, respectively. He received the SEC’s 1992 Law and Policy Award for work regarding corporate governance matters.
Chairman Atkins began his career as a lawyer in New York, focusing on a wide range of corporate transactions for U.S. and foreign clients, including public and private securities offerings and mergers and acquisitions. He was resident for 2½ years in his firm's Paris office and admitted as conseil juridique in France.
A member of the New York and Florida bars, Chairman Atkins received his J.D. from Vanderbilt University School of Law in 1983 and was Senior Student Writing Editor of the Vanderbilt Law Review. He received his A.B., Phi Beta Kappa, from Wofford College in 1980.
Originally from Lillington, North Carolina, Chairman Atkins grew up in Tampa, Florida. He and his wife Sarah have three sons.
Senior Fellow-in-Residence, Milken Institute
Ed DeMarco is a Senior Fellow in Residence at the Milken Institute Center for Financial Markets and a Visiting Professor in the Owen Graduate School of Management at Vanderbilt University. He is a member of the Comptroller General’s Advisory Board for the U.S. Government Accountability Office and a Fellow of the National Academy of Public Administration.
From September 2009 to January 2014 DeMarco served as Acting Director of the Federal Housing Finance Agency (FHFA), the conservator for Fannie Mae and Freddie Mac and regulator of those companies and the Federal Home Loan Banks. DeMarco was the Chief Operating Officer and Senior Deputy Director of FHFA and its predecessor from 2006 to 2009. From 2003 to 2006 he was an executive at the Social Security Administration (SSA), where he was Assistant Deputy Commissioner for Policy.
Before joining SSA, DeMarco was Director of the Office of Financial Institutions Policy at the U.S. Department of the Treasury, where he oversaw analyses of policy issues involving banks, government sponsored enterprises and other financial institutions. He worked at the U.S. General Accounting Office from 1986 to 1994.
Principal, Ely & Company, Inc.
Bert Ely has specialized in deposit insurance and banking structure issues since 1981. In 1986, he became an early predictor of the S&L crisis and a taxpayer bailout of the FSLIC. In 1991, he was the first person to correctly predict the non-crisis in commercial banking; in 1992, he predicted an eventual taxpayer bailout of the Japanese banking system.
Bert continuously monitors conditions in the banking and S&L industries, monetary policy, and the growing federalization of credit risk. He has helped to draft legislation to enact the cross-guarantee concept for privatizing banking regulation and its related deposit insurance and systemic risks. He has testified on numerous occasions before congressional committees on banking issues and he often speaks on these matters to bankers and others.
Bert first established his consulting practice in 1972. Before that, he was the chief financial officer of a public company, a consultant with Touche, Ross & Company, and an auditor with Ernst & Ernst. He received his MBA from the Harvard Business School in 1968 and his Bachelor's degree in economics in 1964 from Case Western Reserve University.
Resident Scholar, American Enterprise Institute
Paul H. Kupiec is a resident scholar at the American Enterprise Institute (AEI), where he studies systemic risk and the management and regulations of banks and financial markets. He also follows the work of financial regulators such as the Federal Reserve and examines the impact of financial regulations on the US economy.
Before joining AEI, Kupiec was an associate director of the Division of Insurance and Research within the Center for Financial Research at the Federal Deposit Insurance Corporation (FDIC), where he oversaw research on bank risk measurement and the development of regulatory policies such as Basel III. Kupiec was also director of the Center for Financial Research at the FDIC and chairman of the Research Task Force of the Basel Committee on Banking Supervision. He has previously worked at the International Monetary Fund (IMF), Freddie Mac, J.P. Morgan, and for the Division of Research and Statistics at the Board of Governors of the Federal Reserve System.
Kupiec has edited many professional journals, including the Journal of Financial Services Research, Journal of Risk, and Journal of Investment Management.
He has a bachelor of science degree in economics from George Washington University and a doctorate in economics — with a specialization in finance, theory, and econometrics — from the University of Pennsylvania.
Senior Advisor, Covington & Burling
Senator Jon Kyl advises companies on domestic and international policies that influence U.S. and multi-national businesses and assists corporate clients on tax, health care, national security, and intellectual property matters, among others.
Jon served in the U.S. Senate from 1995 to 2013, retiring as the second-highest ranking Republican senator. He returned to the Senate in September 2018 after being appointed to succeed the late John McCain, and retired again at the end of 2018.
During Jon’s 26 years in Congress, he built a reputation for mastering the complexities of legislative policy and coalition building, first in the House of Representatives and then in the Senate. In 2010, Time magazine called him one of the 100 most influential people in the world, noting his "encyclopedic knowledge of domestic and foreign policy, and his hard work and leadership" and his "power to persuade."
Jon sat on the powerful Senate Finance Committee and was the ranking Republican on the Senate Judiciary Committee’s Subcommittee on Crime and Terrorism. A member of the Republican Leadership for well over a decade, Jon chaired the Senate Republican Policy Committee and the Senate Republican Conference, before becoming Senate Republican Whip. In filling Senator McCain’s seat, he served on the Armed Services and Homeland Security Committees.
Former United States National Security Advisor
John R. Bolton served as Assistant to the President and National Security Advisor from April 2018 to September 2019.
Prior to his appointment, Ambassador Bolton served as a senior fellow at the American Enterprise Institute (AEI); of counsel at Kirkland & Ellis; a contributor to FOX News Channel and FOX Business Network; and his op-ed articles were regularly featured in major media publications.
Ambassador Bolton was appointed as United States Permanent Representative to the United Nations on August 1, 2005 and served until his resignation in December 2006. Prior to his appointment, Ambassador Bolton served as Under Secretary of State for Arms Control and International Security from May 2001 to May 2005.
Other positions he has previously held include Assistant Secretary for International Organization Affairs at the Department of State, 1989-1993; Assistant Attorney General, Department of Justice, 1985-1989; Assistant Administrator for Program and Policy Coordination, U.S. Agency for International Development, 1982-1983 and General Counsel, U.S. Agency for International Development, 1981-1982.
Ambassador Bolton is the author of Surrender is Not an Option: Defending America at the U.N. and Abroad, published by Simon and Shuster (November 2007) and How Barack Obama is Endangering our National Sovereignty, published by Encounter Books (April 2010).
Ambassador Bolton was born in Baltimore, Maryland. He graduated with a Bachelor of Arts degree, summa cum laude, Phi Beta Kappa, from Yale College in 1970, and received his Juris Doctor from Yale Law School in 1974. He currently resides in Maryland with his wife, Gretchen. They have one daughter, Jennifer Sarah, who also graduated from Yale College, and received her MBA and SM degrees from MIT in 2014 and is currently a senior manager at Nissan’s facility in Nashville.
President, Students for Fair Admissions
Edward Blum is the president of Students for Fair Admissions, a membership organization whose mission is to eliminate racial and ethnic classifications and preferences in school admissions. Shortly after SFFA’s inception in 2014, the group challenged in federal court the racial admissions policies at Harvard and the University of North Carolina-Chapel Hill. In 2023, the United States Supreme Court struck down the use of race as an admissions factor at all colleges and universities.
He is the president of the newly formed American Alliance for Equal Rights which has filed over a dozen lawsuits challenging the use of race by corporations, law firms, venture capital firms and cultural institutions. Mr. Blum also serves as the President of the Project on Fair Representation, a nonprofit legal foundation formed in 2005 that has provided counsel in a number of race-related U.S. Supreme Court cases including, Shelby Co. Alabama v. Holder, Fisher v. University of Texas (I and II) and Evenwel v. Abbott.
Since 2005, Blum has been a visiting fellow at the American Enterprise Institute where he studies legal and policy issues relating to race and ethnicity. He is the author of a book on the Voting Rights Act, numerous essays and law review articles, and is a frequent contributor to the Wall Street Journal, USA Today, Los Angeles Times, Washington Post, and National Review, among others.
W. H. Brady Scholar, American Enterprise Institute
Charles Murray is a political scientist, author, and libertarian. He first came to national attention in 1984 with the publication of Losing Ground, which has been credited as the intellectual foundation for the Welfare Reform Act of 1996. His 1994 New York Times bestseller, The Bell Curve (Free Press, 1994), coauthored with the late Richard J. Herrnstein, sparked heated controversy for its analysis of the role of IQ in shaping America’s class structure. Murray's other books include What It Means to Be a Libertarian (1997), Human Accomplishment (2003), In Our Hands (2006), and Real Education (2008). His most recent book, Coming Apart (Crown Forum, 2012), describes an unprecedented divergence in American classes over the last half century.
Wayne A. Abernathy, Wild Bells
Wayne A. Abernathy is a former U.S. Treasury Assistant Secretary for Financial Institutions under President George W. Bush, receiving the Alexander Hamilton Award in recognition of his service. In that office he was also a member of the Board of Directors of the Securities Investor Protection Corporation. Prior to his work at the Treasury, Mr. Abernathy served as Staff Director of the Senate Banking Committee, under Chairman Phil Gramm.
Following his service at the Treasury, Mr. Abernathy worked for 15 years on the staff of the American Bankers Association, as Executive Vice President for Financial Institutions Policy and Regulatory Affairs.
Previous experience with the Senate Banking Committee includes serving as Staff Director of the Subcommittee on Securities during 1995-1998. From 1989 until 1994, Mr. Abernathy was a Republican economist for the committee. He previously worked as a senior legislative assistant for Senator Gramm during 1987-1989 and as an economist for the Banking Committee’s Subcommittee on International Finance and Monetary Policy during 1981-1986, under Chairman Jake Garn.
Mr. Abernathy earned his bachelor’s degree in International Studies from The Johns Hopkins University in 1978. In 1980, he received a master’s degree in International Studies from the School of Advanced International Studies of The Johns Hopkins University.
Senior Fellow, Arthur F. Burns Fellow in Financial Policy Studies, American Enterprise Institute
Peter J. Wallison holds the Arthur F. Burns Chair in Financial Policy Studies and is co-director of AEI’s program on Financial Policy Studies. Prior to joining AEI, he practiced banking, corporate and financial law at Gibson, Dunn & Crutcher in Washington, D.C., and New York. Mr. Wallison has held a number of government positions. From June 1981 to January 1985, he was General Counsel of the United States Treasury Department, where he had a significant role in the development of the Reagan Administration's proposals for deregulation in the financial services industry. During 1986 and 1987, Mr. Wallison was White House counsel to President Ronald Reagan, and between 1972 and 1976, he served first as Special Assistant to New York's Gov. Nelson A. Rockefeller and, subsequently, as counsel to Mr. Rockefeller as vice president of the United States.
Mr. Wallison was admitted to practice before the courts of New York and the District of Columbia, and is retired from practice in New York. He continues to be a member of the District of Columbia Bar Association. He received his undergraduate degree from Harvard College in 1963 and law degree from Harvard Law School in 1966.
Mr. Wallison is the author of Ronald Reagan: The Power of Conviction and the Success of His Presidency, published in December 2002 by Westview Press. On campaign finance, he is the author (with Joel Gora) of Better Parties, Better Government, (AEI Press 2009). On financial or regulatory matters, he is the author of Back From the Brink, a proposal for a private deposit insurance system, and co-author of Nationalizing Mortgage Risk: The Growth of Fannie Mae and Freddie Mac; The GAAP Gap: Corporate Disclosure in the Internet Age; Competitive Equity: A Better Way to Organize Mutual Funds; Bad History, Worse Policy: How a False Narrative about the Financial Crisis Led to the Dodd-Frank Act (AEI Press 2013); and Hidden In Plain Sight: What Caused the World’s Worst Financial Crisis and Why it Could Happen Again (Encounter Books 2015). His most recent book is Judicial Fortitude: The Last Chance to Rein in the Administrative State, published by Encounter Books in October 2018.
He testifies frequently before committees of Congress, and is a frequent contributor to the op-ed pages of the Wall Street Journal and other print and online journals. He has also been a speaker at many conferences on financial services, housing, the causes of the financial crisis, the Dodd-Frank Act, accounting, and corporate governance, and was a member of the Shadow Financial Regulatory Committee between 1995 and 2015. He was a member of the SEC Advisory Committee on Improvements to Financial Reporting (2008), co-Chair of the Pew Financial Reform Task Force (2009), and a member of the congressionally- appointed Financial Crisis Inquiry Commission (2009-2011). In May 2011, for his work in financial policy, Mr. Wallison received an honorary doctorate in Humane Letters from the University of Colorado.
Credit to Cronies: Government’s Heavy—IF Hidden—Hand
2014 National Lawyers Convention
Washington, DCPost-Election Wrap-Up with Sen. Jon Kyl
Phoenix, ArizonaForeign Policy Challenges Facing the United States
Orlando, FloridaConservative Impact Litigation: A behind- the-scenes look at Shelby County and Fisher v. University of Texas
Charlotte, North CarolinaHow Money Walks
Conservative & Libertarian Legal Scholarship: Foreword
[Return to Table of Contents] Foreword At no other point in American history has so...
How Money Walks
Coming Apart: America's New Cultural Divide
How Money Walks
The Financial Stability Oversight Council
Teleforum