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Peter J. Wallison

In office
1986 – 1987
President Ronald Reagan
Preceded by Fred F. Fielding
Succeeded by Arthur B. Culvahouse, Jr.

In office
1986 – 1987-03-20
President Ronald Reagan

In office
1974 – 1976
Appointed by Nelson Rockefeller

Born June 6, 1941 (1941-06-06) (age 68)
New York, New York
Political party Republican Party (United States)
Spouse(s) Frieda Wallison
Children 3
Residence Colorado
Alma mater Harvard College
Harvard Law School
Profession lawyer

Peter J. Wallison (born June 6, 1941, in New York City) is a lawyer and the Arthur F. Burns Fellow in Financial Policy Studies at the American Enterprise Institute. He specializes in financial markets deregulation. He was White House Counsel during the Tower Commission's inquiry into the Iran Contra Affair.[1] He was a frequent commentator in the mass media on the Federal takeover of Fannie Mae and Freddie Mac, Financial crisis of 2007–2008, and related matters.



Wallison was born in New York City, and educated at the Capitol Page School and Harvard University (A.B. 1963, LL.B. 1966), where he was President of the Young Republicans. [2] He was admitted to the bar of New York state in 1967.[3] [4]

Emanuel Celler appointed him a United States House of Representatives Page when he was about 14, and he served for most of his high school years. The Democrats controlled the patronage, but assigned some pages, such as Wallison, to the minority party. This experience helped him become a Republican.[2]

He was a Rockefeller Republican before becoming a Reagan Republican.

On November 24, 1966, he married the former Frieda Koslow (born in New York January 15, 1943, A.B. Smith College 1963, LL.B. Harvard Law School 1966 admitted to New York bar in 1967, D.C. bar 1982). They have three children, Ethan S., Jeremy L. (born not later than 1972), Rebecca K. Mrs. Wallison develops real estate in Snowmass, Colorado. [5][6][7][8][9]

They split their time between homes in Colorado and in Washington, D.C.



Wallison gave a eulogy at a memorial service for Don Regan in June 2003.[2]



  • (With John D. Hawke, Jr.) The State Banking Revolution and the Federal Response: New Frontiers of Financial Service Expansion, Law and Business/Harcourt Brace Jovanovich (Clifton, NJ), 1984.
  • State Banking Regulation and Deregulation, Law and Business/Harcourt Brace Jovanovich (New York, NY), 1985.
  • Back from the Brink: A Practical Plan for Privatizing Deposit Insurance and Strengthening Our Banks and Thrifts, AEI Press (Washington, DC), 1990.
  • (With Bert Ely) Nationalizing Mortgage Risk: The Growth of Fannie Mae and Freddie Mac, AEI Press (Washington, DC), 2000.
  • (With Robert E. Litan) The GAAP Gap, AEI Press (Washington, DC), 2000.
  • (Editor) Optional Federal Chartering and Regulation of Insurance Companies, AEI Press (Washington, DC), 2000.
  • Wallison, Peter J. (2000-09-06). "Statement for Roundtable Discussion on H.R. 3703". House Banking Committee Subcommittee on Capital Markets. Retrieved 2008-10-19.  
  • (Editor) Fannie Mae and Freddie Mac: Public Purposes and Private Interests, Volume 1: Government Subsidy and Conflicting Missions, Volume 2: Prospects for Controlling Growth and Expansion, AEI Press (Washington, DC), 2000, ISBN 0844771376 (alk. paper), ISBN 0844771384
  • (Editor) Serving Two Masters, Yet out of Control: Fannie Mae and Freddie Mac, AEI Press (Washington, DC), 2001, ISBN 0844741663 (pbk.)
Wallison, Peter J. (2009-07-13). "Elitist Protection Consumers Don't Need". The Washington Post. Retrieved 2009-07-14.  
Wallison, Peter J. (2008-10-15). "Obama Voted 'Present' on Mortgage Reform. The only banking 'deregulation' in recent years was that of Fan and Fred.". Opinion Journal. Retrieved 2008-01-30.  
Wallison, Peter J. (2008-09-12). "How Paulson Would Save Fannie Mae". The Wall Street Journal. Retrieved 2009-07-14.  
Wallison, Peter J. (2008-01-08). "Reagan and McCain". American Spectator. Retrieved 2008-01-30.  
Wallison, Peter J. (2007-07-11). "What We Pre-Empted - Today's world would be far worse if Saddam were still in power.". Opinion Journal (Wall Street Journal). Retrieved 2008-01-30.  
Wallison, Peter J. (2004-04-16). "Reagan, Iraq, and Neoconservatism". American Spectator. Retrieved 2008-01-30.  
Wallison, Peter J. (2003-10-26). "Bush’s Reagan Moment". The New York Times. Retrieved 2009-07-13.  


  1. ^ a b Boyd, Gerald M. (1987-03-13). "REAGAN COUNSEL RECOUNTS CHAOS OVER IRAN AFFAIR". New York Times. Retrieved 2008-10-19.  
  2. ^ a b c d e f g h Final edited transcript, interview with Peter Wallison. Ronald Reagan Oral History Project. Jeff Chidester, Stephen F. Knott, Darby Morrisroe, Christine Nemacheck. Charlottesville, VA. 2006-01-13. Retrieved 2008-10-29.  
  3. ^ a b Contemporary Authors Online, Gale, 2008. Reproduced in Biography Resource Center. Farmington Hills, Mich.: Gale, 2008. Document Number: H1000155216 Dated 2004-08-25 Retrieved 2008-10-19. Fee.
  4. ^ a b c d "AEI - Scholars & Fellows - Peter J. Wallison". American Enterprise Institute for Public Policy Research. Retrieved 2008-10-19.  
  5. ^ "Frieda K. Wallison." Marquis Who's Who TM. Marquis Who's Who, 2008. Reproduced in Biography Resource Center. Farmington Hills, Mich.: Gale, 2008. Document Number: K2016190560 Fee. Retrieved 2008-10-19.
  6. ^ a b Lamb, Brian (2008-09-14). "Q&A: Transcript with Peter Wallison, Resident Fellow, American Enterprise Institute". Retrieved 2008-10-19.   (Please see also the link to the video, below.)
  7. ^ Heiman, Jeremy (2008-09-11). "P&Z to get a look at plans for two big housing projects". The Valley Journal (Carbondale, Colorado: Swift Communications). Retrieved 2008-10-19.  
  8. ^ "WEDDINGS; Kristina Kaplan, Jeremy Wallison". New York Times. 2000-08-13. Retrieved 2008-10-19.  
  9. ^ a b c Woolley, John T.; Gerhard Peters (1981-05-15). "Nomination of Peter J. Wallison To Be General Counsel of the Department of the Treasury". The American Presidency Project (online database). Santa Barbara, California: University of California (hosted). Retrieved 2008-10-19.  
  • American Banker, August 14, 1992, Claudia Cummins, "Former Reagan Official Still Fighting for Banks, " p. 2.
  • Banker Monthly, September, 1990, Andrew Gray, review of Back from the Brink: A Practical Plan for Privatizing Deposit Insurance and Strengthening Our Banks and Thrifts, p. 87.
  • Journal of Economic Literature, June, 1991, review of Back from the Brink, p. 688.
  • Kirkus Reviews, November 1, 2002, review of Ronald Reagan: The Power of Conviction and the Success of His Presidency, p. 1604.
  • Publishers Weekly, November 18, 2002, review of Ronald Reagan, p. 50.
  • Wall Street Journal, December 24, 2002, Mary Anastasia O'Grady, review of Ronald Reagan.
  • Women's Wear Daily, February 19, 2003, Aileen Mehle, review of Ronald Reagan, p. 6.

See also

Q & A with Peter Wallison. Washington, D.C.: C-SPAN. 2008-09-09. Retrieved 2008-10-19.  

Legal offices
Preceded by
Fred Fielding
White House Counsel
Succeeded by
Arthur Culvahouse