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Reagan Appoints 4 Executives to Panel Studying Market Crash

November 04, 1987|Associated Press

WASHINGTON — President Reagan today appointed four top business executives to a commission studying the current turmoil in the financial markets and met for the first time with the group, headed by former Sen. Nicholas Brady (R-N.J.).

Named by Reagan to the Presidential Task Force on Market Mechanisms were James C. Kotting, chairman and chief executive officer of Navistar International Corp. of Chicago; Robert G. Kirby, chairman, Capital Guardian Trust Co., Los Angeles; Howard M. Stein, chairman and chief executive officer of Dreyfus Corp., New York, and John Opel, chairman of the executive committee of the IBM Corp., New York.

Robert Glauber, a professor at the Harvard Business School, was named executive director.

White House spokesman Marlin Fitzwater said the President was directing the group to "assemble the facts needed to give a clear and comprehensive view of what happened to the securities market in October."

He said the task force would report to Reagan, Treasury Secretary James A. Baker III and the Federal Reserve Board within 60 days.

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