In the early days of the first Reagan Administration, an issue before the Cabinet was a financial crisis at the International Monetary Fund. They had come to Washington, hat in hand, asking for $4 billion dollars to replace that which had been lost due to fraud, incompetence and downright theft. President Reagan quite properly opposed the bailout, until heavily pressured by Treasury Secretary Don Regan and OMB Director David Stockman, he reluctantly gave in. A conservative in attendance watched and later shook his head sadly, saying Reagan would have been better served if he just governed from inside a White...
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