Stephen Friedman (PFIAB)
Encyclopedia
Stephen Friedman is the former Chairman of the United States
President's Foreign Intelligence Advisory Board
. He was nominated on October 27, 2005 to replace Brent Scowcroft
in the position.
in 1959, where he was a wrestler and a member of the Quill and Dagger
society. He received his law degree from Columbia Law School
in 1962 (Law Review). He worked for much of his career with investment bank Goldman Sachs
, holding numerous executive roles. He served as the company's co-chief operating officer from 1987 to 1990, was the company's co-chairman from 1990 to 1992, and the sole chairman from 1992 to 1994; he still serves on the company board.
From 1998 to 2002, he served as a senior principal of Marsh & McLennan
Capital Corp. He was from 2002 to 2005 United States
Assistant to the President for Economic Policy and director of the National Economic Council.
Among other public service activities, Friedman is the Chairman Emeritus of the Board of Columbia University
, Chairman Emeritus of the Executive Committee of the Brookings Institution
, and a member of the Council on Foreign Relations
. He is also a benefactor of his alma mater Cornell University, particularly its wrestling program as the college's wrestling building is known as the Friedman Center.
On May 7, 2009 Friedman resigned as Chairman of the Federal Reserve Bank of New York
in response to criticism of his December 2008 purchase of $3 million of stock in Goldman Sachs
. Friedman, who remains a member of Goldman Sachs' board, came into violation of Federal Reserve policy when Goldman was converted to a bank holding company in September 2008, thereby placing it under the regulatory authority of the New York Fed. Friedman requested a waiver from this violation when the conversion occurred, which was granted roughly two and a half months later. In his resignation letter, Friedman stated that the Fed did not need the "distraction" caused by his "public service motivated continuation on the Reserve Bank Board...being characterized as improper."
, a law professor at the University of Michigan
and a leading expert in the Confrontation Clause
of the United States Constitution
.
Friedman's son is screenwriter David Benioff
, who is married to actress Amanda Peet
.
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
President's Foreign Intelligence Advisory Board
President's Foreign Intelligence Advisory Board
The President's Intelligence Advisory Board is an advisor to the Executive Office of the President of the United States. According to its self-description, it "...provides advice to the President concerning the quality and adequacy of intelligence collection, of analysis and estimates, of...
. He was nominated on October 27, 2005 to replace Brent Scowcroft
Brent Scowcroft
Brent Scowcroft, KBE was the United States National Security Advisor under Presidents Gerald Ford and George H. W. Bush and a Lieutenant General in the United States Air Force. He also served as Military Assistant to President Richard Nixon and as Deputy Assistant to the President for National...
in the position.
Life and career
Friedman graduated from Cornell UniversityCornell University
Cornell University is an Ivy League university located in Ithaca, New York, United States. It is a private land-grant university, receiving annual funding from the State of New York for certain educational missions...
in 1959, where he was a wrestler and a member of the Quill and Dagger
Quill and Dagger
Quill and Dagger is a senior honor society at Cornell University. It is often recognized as one of the most prominent collegiate societies of its type, along with Skull and Bones of Yale University...
society. He received his law degree from Columbia Law School
Columbia Law School
Columbia Law School, founded in 1858, is one of the oldest and most prestigious law schools in the United States. A member of the Ivy League, Columbia Law School is one of the professional graduate schools of Columbia University in New York City. It offers the J.D., LL.M., and J.S.D. degrees in...
in 1962 (Law Review). He worked for much of his career with investment bank Goldman Sachs
Goldman Sachs
The Goldman Sachs Group, Inc. is an American multinational bulge bracket investment banking and securities firm that engages in global investment banking, securities, investment management, and other financial services primarily with institutional clients...
, holding numerous executive roles. He served as the company's co-chief operating officer from 1987 to 1990, was the company's co-chairman from 1990 to 1992, and the sole chairman from 1992 to 1994; he still serves on the company board.
From 1998 to 2002, he served as a senior principal of Marsh & McLennan
Marsh & McLennan Companies
Marsh & McLennan Companies, Inc. is a US-based global professional services and insurance brokerage firm. In 2007, it had over 57,000 employees and annual revenues of $10.49 billion. Marsh & McLennan Companies was ranked the 221st largest corporation in the United States by the 2009 Fortune 500...
Capital Corp. He was from 2002 to 2005 United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
Assistant to the President for Economic Policy and director of the National Economic Council.
Among other public service activities, Friedman is the Chairman Emeritus of the Board of Columbia University
Columbia University
Columbia University in the City of New York is a private, Ivy League university in Manhattan, New York City. Columbia is the oldest institution of higher learning in the state of New York, the fifth oldest in the United States, and one of the country's nine Colonial Colleges founded before the...
, Chairman Emeritus of the Executive Committee of the Brookings Institution
Brookings Institution
The Brookings Institution is a nonprofit public policy organization based in Washington, D.C., in the United States. One of Washington's oldest think tanks, Brookings conducts research and education in the social sciences, primarily in economics, metropolitan policy, governance, foreign policy, and...
, and a member of the Council on Foreign Relations
Council on Foreign Relations
The Council on Foreign Relations is an American nonprofit nonpartisan membership organization, publisher, and think tank specializing in U.S. foreign policy and international affairs...
. He is also a benefactor of his alma mater Cornell University, particularly its wrestling program as the college's wrestling building is known as the Friedman Center.
On May 7, 2009 Friedman resigned as Chairman of the Federal Reserve Bank of New York
Federal Reserve Bank of New York
The Federal Reserve Bank of New York is one of the 12 Federal Reserve Banks of the United States. It is located at 33 Liberty Street, New York, NY. It is responsible for the Second District of the Federal Reserve System, which encompasses New York state, the 12 northern counties of New Jersey,...
in response to criticism of his December 2008 purchase of $3 million of stock in Goldman Sachs
Goldman Sachs
The Goldman Sachs Group, Inc. is an American multinational bulge bracket investment banking and securities firm that engages in global investment banking, securities, investment management, and other financial services primarily with institutional clients...
. Friedman, who remains a member of Goldman Sachs' board, came into violation of Federal Reserve policy when Goldman was converted to a bank holding company in September 2008, thereby placing it under the regulatory authority of the New York Fed. Friedman requested a waiver from this violation when the conversion occurred, which was granted roughly two and a half months later. In his resignation letter, Friedman stated that the Fed did not need the "distraction" caused by his "public service motivated continuation on the Reserve Bank Board...being characterized as improper."
Personal life
Friedman's brother is Richard FriedmanRichard Friedman
Richard Friedman is the name of:*Richard A. Friedman, American psychiatrist*Richard C. Friedman, a medical doctor who has conducted research on the psychodynamics of male homosexuality*Richard Elliott Friedman, biblical scholar...
, a law professor at the University of Michigan
University of Michigan
The University of Michigan is a public research university located in Ann Arbor, Michigan in the United States. It is the state's oldest university and the flagship campus of the University of Michigan...
and a leading expert in the Confrontation Clause
Confrontation Clause
The Confrontation Clause of the Sixth Amendment to the United States Constitution provides that "in all criminal prosecutions, the accused shall enjoy the right…to be confronted with the witnesses against him." Generally, the right is to have a face-to-face confrontation with witnesses who are...
of the United States Constitution
United States Constitution
The Constitution of the United States is the supreme law of the United States of America. It is the framework for the organization of the United States government and for the relationship of the federal government with the states, citizens, and all people within the United States.The first three...
.
Friedman's son is screenwriter David Benioff
David Benioff
-Early life:Born David Friedman in New York City, he changed his name to David Benioff, his mother's maiden name. He is the youngest of three children....
, who is married to actress Amanda Peet
Amanda Peet
Amanda Peet is an American actress, who has appeared on film, stage, and television. After studying with Uta Hagen at Columbia University, Peet began her career in television commercials, and progressed to small roles on television, before making her film debut in 1995...
.