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WILLIAM J. CASEY

Document Type: 
CREST
Collection: 
General CIA Records
Document Number (FOIA) /ESDN (CREST): 
CIA-RDP91-00901R000100250001-2
Release Decision: 
RIPPUB
Original Classification: 
K
Document Page Count: 
64
Document Creation Date: 
December 19, 2016
Document Release Date: 
December 5, 2005
Sequence Number: 
1
Case Number: 
Content Type: 
BIO
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PDF icon CIA-RDP91-00901R000100250001-2.pdf4.42 MB
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Approved For Release 2006/01/03 : CIA-RDP91-00901 R000100250001-2 Born 13 March 1913, New York City 1919-30 Public and parochial schools, New York City and Long Island 1934 Fordham University, B.S. 1935 Catholic University of America - Social Work 1936-37 New York City Welfare Department - Social Worker 1938 St. John's Law School, J.D. 1938 Research Institute of America - Editor of Federal Tax Coordinator 1939-40 In Washington working on pre-World War II industrial mobilization; assisted Leo Cherne on book, Adjusting Your Business to War 1940 Research for Tom Dewey - Pre-convention Dewey for President 1940 Research, speechwriting - Wilkie campaign 1940-41 Research Institute of America - Chairman, Board of Editors 194142 Set up Washington Office for Research Institute, edited Business and Defense Coordinator, War Research Report 1941 Army and Navy Munitions Board - Consultant 1942 Consultant, Board of Economic Warfare - Preemptive buying of strategic materials 1943-45 Office of Strategic Services - First as Naval Lieutenant and later as civilian Special Assistant to General W. J. Donovan, Washington, DC Aide to David Bruce, London Chief, Secretariat, London - received Bronze Star for coordinating support and operations of French Resistance in support of Normandy landings and liberation of France 1944-45 Chief, OSS Intelligence, European Theatre 1946-51 Chairman, Board of Editors, Research Institute of America 1948 Founder, later Chairman, American Friends of Russian Freedom 1948 Research, Delegate Hunter, Dewey for President 1948 Associate General Counsel, European Headquarters, Marshall Plan Approved For Release 2006/01/03 : CIA-RDP91-00901 R000100250001-2 Approved For Release 2006/01/03 : CIA-RDP91-00901 R000100250001-2 1951-71 Founder, in collaboration with Prentice-(Hall, Editor and Chief Executive of Institute of Business Planning, a publisher of business, financial and legal information services and books - created and earned royalties on seven or eight loose-leaf services and some 30 books in this capacity 1951-71 Venture Capitalist - participated in founding ana developing some 25 enterprises (see disclosure to Senate Banking Committee at 1971 confirmation hearing) 1952 Research and speechwriting - Taft for Presidential Nomination 1952 Research and speechwriting - Eisenhower election campaign 1952-71 Partner, law firm of Hall, Casey, Dickler and Howley, and predecessors 1953-54 Assistant to Leonard Hall, Chairman of the Republican National Committee 1954-71 Co-Founder and Director, Capital Cities Communications 1956 Assistant to Leonard Hall, Campaign Manager - Eisenhower for President 1958 Founding Director, National Strategy Information Center 1959-60 Assistant to Campaign Manager, pre-convention and election - Nixon for President 1960 Founding Director, National Strategy Information Center - stimulated course and chairs for national security studies on some 200 campuses 1964 Executor of the estate of the owner of Human Events, ran it for close to a year, and worked out plans to turn it over to the writers who are still the owners 1964 Worked with Leonard Hall and Fred Scribner on possible Romney and Scranton candidacies and ran Nixon primary campaign in Oregon 1965 Founding Director, Center for the Study of the Presidency 1966 Primary candidate for Republican nomination for Congress on Long Island 1966-71 Chairman, Executive Committee and then President, International Rescue Committee 1968 Romney and Nixon Pre-convention, Nixon election campaign Approved For Release 2006/01/03 : CIA-RDP91-00901 R000100250001-2 Approved For Release 2006/01/03 : CIA-RDP91-00901 R000100250001-2 1968?-71 President and then Chairman, Long Island Association 1969 Presidential Task Force on International Development with David Rockefeller, Cardinal Cooke, Earl Butz and Rudy Peterson 1970 General Advisory Committee on Arms Control with John McCloy, Dean Rusk, Cy Vance, Harold Brown, and Doug Dillon 1971?-73 Chairman, Securities and Exchange Commission 1973--74 Under Secretary of State for Economic Affairs 1974?-76 Chairman and President, Export-Import Bank of the United States 1976 President's Foreign Intelligence Advisory Board 1976?-77 Chairman, Task Force on Capital for Small and Growing Businesses, Ford Administration 1976?-80 Founder, Center for International Economic Policy Studies - now Manhattan Institute 1976?-81 Counsel, Rogers and Wells 197E-81 Director, Capital Cities Communications 1977 Chairman, Blue Ribbon Panel on Governance of American Stock Exchange 1977-79 Co-chairman, Citizens Commission on Indo-Chinese Refugees 1977-81 Chairman of Executive Committee, Long Island Trust Company 1979-80 Vice Chairman and then Chairman, Reagan Presidential Kick-Off Drive 1980 Campaign Director, Reagan for President Primary and Election Campaign 1980-81 Chairman, Reagan Transition 1580-81 Chairman, Interim Foreign Policy Assessment Board 1981- Director of Central Intelligence present Approved For Release 2006/01/03 : CIA-RDP91-00901 R000100250001-2 Approved For Release 2006/01/03 : CIA-RDP91-00901 R000100250001-2 Books Numerous books on legal and financial subjects American Tour of the American Revolution Awards William J. Donovan Award St. John's Gold Medal Honorary Degrees Fordham University Adelphi University St. John's University Polytechnic Institute of New York Chung Any University Westminster College New 'York Law School Bryant College Molloy College Long Island University Approved For Release 2006/01/03 : CIA-RDP91-00901 R000100250001-2 Approved4%~406/(/b4Iq?P91-00901 R0001 00250001-2 Estate Planning 1979 Real Estate Investment Tables 1977 6th ed. Regulation of Securities Ideas 197- Estate Planning Desk Book 1977 Accounting Desk Book the Accountant's Everyday Instant Answer Book 1974 4th ed. Closely-Held Corporations 1974 Lawyer's Desk Book; the Lawyer's Everyday Instant Answer Book 1975 4th ed. Lawyer's Desk Book 1978 teal Estate Desk Book 1978 :,uccessful Techniques that Multiply Profits and Personal Payoff in the Closely Held Corporation Accounting Desk Book; the Accountant's Everyday Instant Answer Book 1970 2d ed. Accounting Desk Book; the Accountant's Everyday Instant Answer Book 1972 3d ed. Corporate Planning 1965- Encyclopedia of Mutual Fund Invest- ment Planning for Security and Porfit 1969- Estate Planning 1965- Estate Planning Ideas 1968- Forms of Business Agreements and Resolutions; Annotated, Tax Tested Hidden Gold and Pitfalls in the New Tax Law; New Opportunities and Techniques for Increasing Personal and Company Wealth in the 1970's. An IBP Special report by William J. Casey and the Board of editors and research staff of the Institute for Business Planning, inc. Approved For Release 2006/01/03 : CIA-RDP91-00901 R000100250001-2 Approved For Release 2006/01/03 : CIA-RDP91-00901 R000100250001-2 Tax planning (formerly: Tax control) 1965 Tax planning ideas 1970- Tax practice kit; a completely worked out system for managing taxes Tax tested forms of agreements, resolutions and plans 1962- Approved For Release 2006/01/03 : CIA-RDP91-00901 R000100250001-2 Approved For Release 2006/01/03 : CIA-RDP91-00901 R000100250001-2 Tax practice and procedure Tax practice and procedure; a completely worked out system for managing taxes by William J. Casey and the IBP research and editorial staff Tax practice ideas Where and how the war was fought: an armchair tour of the American Revolution Life insurance desk book Life insurance planning- Mutual fund investment planning Mutual funds desk book Pay planning forms, annotated, tax tested Realestate desk book Real estate desk book Real estate investment planning Real estate investment ideas Real estate investment tables Real estate investment tables Real estate investments and how to make them Real estate investments and how to make them Real estate investments and how to make them Successful compensation techniques that build executive fortunes; a complete working kit for setting up today's most profitable executive pay plans Successful techniques that multiply profits and personal payoff in the closely-held corporation; a complete working kit 1976 19.65 1965- 1969- 1968, 1969 1966 1969, 1966 1971 1971- 1970- 1966 1971 1968 1971 1972 2d ed. 1967,1968- Approved For Release 2006/01/03 : CIA-RDP91-00901 R000100250001-2 Approved For Release 2006/01/03 : CIA-RDP91-00901 R000100250001-2 Corporate planning 1965 Estate planner's practice and procedure guide; a completely worked-out system for formulating an estate plan from start to finish Estate planning desk book 1972 Executor's and trustee's guide 1973 Forms of business agreements with tax ideas, annotated/by William J. Casey 1974 4th ed. How to raise money to make money 1973 Life insurance desk book 1974 3d ed. Life insurance ideas n.d. Master index cross reference table to the IBP business and financial planning library 1972 Pay planning 1971- Pay planning ideas n.d. Real estate desk book 1974 4th ed., rev. by IBP Research & Editorial Staff Real estate investment deals, ideas, forms 1970- Real estate investment tables 1972 4th ed. :Zeal estate investments and how to make them. 4th ed. rev. by the IBP research & editorial staff Successful techniques that multiply profits and personal payoff in the close-held corporation Tax control 1964 Tax planning 1973- Tax, planning tables 1957 Approved For Release 2006/01/03 : CIA-RDP91-00901 R000100250001-2 Approved For Release 2006/01/03 : CIA-RDP91-00901 R000100250001-2 Real estate investment deals, ideas, forms. 1959- Real estate investment tables 1961 Real estate investments and how to make them 1958 Tax control 1957- Tax planning for foundations and charitable giving 1953 Tax saver 1959 Tax shelter for the family 1953 Tax shelter for the family 1956 1955 Rev ed. Tax shelter in accounting 1957 Tax shelter in business 1953 Tax shelter in real estate 1957 Tax shelter in real estate 1959 2d ed. Tax sheltered investments 1951 Tax sheltered investments, revised and expanded 1955 fax tested forms of agreements, resolutions and plans: annotated 1956 Tax tested real estate forms 1959 Trust manual and guide 1961 What you can do not to cut taxes and save cash this year; recommendations, check- lists, worksheets... 19.59 What you can do not to cut taxes and save cash this year, recommendations - checklists - worksheets.,. 1961 Where and how to find real estate deals 19.60 19.60-19.61 ed.. Accounting desk book: the accountant's everyday instant answer book/ adapted from the first four editions by William J. Casey and the IBP research and editorial staff 1977 completely rey, 5th ed, Approved For Release 2006/01/03 : CIA-RDP91-00901 R000100250001-2 Approved For Release 2006/01/03 : CIA-RDP91-00901 R000100250001-2 'How Federal Tax Angles Multiply Real Estate Profits 1968 .How to Buy and Sell Land 1967 How to Raise Money to Make Money: The Executives Master Guide to Financing a Business 1970 new ed. How to use Tax-Free and Tax- Sheltered Investments to Pyramid Your Captial; the IBP encyclopedia of Taxwise Profit-Making Investments The IBP Business Forms Guide by 'William J. Casey and the IBP Research and Editorial Staff lawyer's Desk Book 1967 Lawyer's Desk Book: the Lawyer's Everyday Instant Answer Book 1971 2d ed. Lawyer's Desk Book: the Lawyer's Everyday Instant Answer Book 1972 3d ed. How to set up tax free insurance plans for partners and sole owners 1959 How to use life insurance in business 1959 Lawyer's tax guide 1959 Life insurance and how to use it 1959 Life insurance plans 1956- Mutual funds and how to use them 1958 Mutual funds and how to use them 1959 New estate planning ideas 1958 New estate planning ideas 1960 1954 pay almanac, by William J. Casey, J.K. Lasser and Walter Lord 1954 100 new ideas to increase your income and reduce your taxes 1959 Pay plans 1960- Real estate desk book 1961 Approved For Release 2006/01/03 CIA-RDP91-00901 R000100250001-2 Approved For Release 2006/01/03 : CIA-RDP91-00901 R000100250001-2 T ILLIAMI J. CASEY - FIZECI'Ik%E BIBLIOGRAPHY Executive Pay Plans, New York, 1951 flow To Handle Renegotiation, Roslyn, New York, 1952 Tax Sheltered Investments, Washington, 1952 Pay Contracts With Key Men; 188 Company Pay Plans, Agreements, Clauses, Roslyn, New Yore: 19' Tax Planning For Foundations and Charitable Giving, Roslyn, New York, 1953 Tax Shelter For the Family, New York, 1953 Tax Shelter In Business, Roslyn, New York, 1953 flow To Use Life Insurance in Business, New York 1959 How To Run A Pension Or Profit Sharing Plan, New York, 1960 When And How To Find Real Estate Deals, New York, 1960 Tax Saver, New York, 1961 How To Buy And Sell Land, New York, 1962 How To Raise The Abney You Need To Start, Run or Expand a Business, New York, 1962 Mutual Lands and flow to Use Them, New Yorl~., ].5;62 Trust Manual and Guide, New York, 1961 Forms of Wills, Trusts, and Family Agreements, with Tax Ideas, New York, 1963 Health Insurance Desk Book, New York, 1963 Tax Control, New York 1964 Tax Planning D esk Book, New York, 1964 Tax Shelter in Real Estate, New York, 1964 lbw To Build and Preserve Executive Wealth; the Truth About Probate and Family Financial. Planning, New York, 1967 Successful Compensation Techniques That Build Executive Fortunes, New York, 1967 The Truth About Probate and Family Financial Planning, New York, 1967 lbw F ederal Tax Angles '.Ultiply Real Estate Profits, New York, 1968 fbw To Use Tax-Free and Tax-Sheltered Investments to Pyramid Your Capital; The IBP Encyclopedia of Taxwise Profitmaking, New York 1968 Mutual Funds Desk Book, New York, 1968 Approved For Release 2006/01/03 : CIA-RDP91-00901 R000100250001-2 Approved For Release 2006/01/03 : CIA-RDP91-00901 R000100250001-2 Encyclopedia of Nlitual Fund Investment Planning for Security and Proiit, New York, 19o Hidden Gold and Pitfalls in the New Tax Law, New York, 1970 The IBP Business Forms Guide, New York, 1970 Pay Planning, ;,cw York, 1971 Real Estate Desk Book, New York, 1971 Rent Estate Investment Ideas, New York, 1971 Tax Practice Kit; A Completely Worked Out System for Managing Taxes, New York, 1971 Estate Planning Desk Book, New York, 1972 Real Estate Investments and Fbw To Make Them, New York, 1972 Corporate Planning, New York, 1973 Energy; Cooperative World Action to Solve Shortages, Washington, 1973 Estate Planner's Practice and Procedure Guide, New York, 1973 Estate Planning, New York, 1973 Executor's and Trustee's Guide, New York, 1973 Forms of Business Agreements and Resolutions, New York, 1973 Tax Planning, New York, 1973 Tax Practice and Procedure, New York, 1973 Tax-Sheltered Investments, New York, 1973 Life Insurance Desk Book, New York, 1974 Mutual Fund Investment Ideas, New York, 1974 R eal Estate Investments and Fbw to Make Them, New York, 1974 Accounting Desk Book; The Accountant's Everyday Instant Answer Book, Engle%ood Cliffs, New Jersey, 1975 Estate Planning Desk Book, New Jersey, 1975 Lawyer's Desk Book; the Lawyer's Everyday Instant Answer Book, New Jersey, 1975 Peal Estate Investment Planning, New Jersey, 1975 Real Estate Investment Tables, New York, 1975 Approved For Release 2006/01/03 : CIA-RDP91-00901 R000100250001-2 Approved For Release 2006/01/03 : CIA-RDP91-00901 R000100250001-2 Successful Techniques that Multiply Profits and Personal Payoff in the Closely Held Corporation, New Jersey, 1975 Life Insurance Desk Book, New Jersey, 1976 Where and hlow the War Was Fought; An Armchair Tour of the American Revolution, New Yor] 1976 flow To R aise Abney To Make Money, Englewood Cliffs, New Jersey, 1980 Approved For Release 2006/01/03 : CIA-RDP91-00901 R000100250001-2 Approved For Release 2006/01/03 : CIA-RDP91-00901 R000100250001-2 WESTMINSTER COLLEGE JOHN FINDLEY GREEN FOUNDATION LECTURE BY WILLIAM J. CASEY Director of Central Intelligence October 29, 1983 Champ Auditorium Fulton, Missouri Approved For Release 2006/01/03 : CIA-RDP91-00901 R000100250001-2 Approved For Release 2006/01/03 : CIA-RDP91-00901 R000100250001-2 William J. Casey William J. Casey assumed the position of Director of Central Intelligence on January 28, 1981 and is the first DCI to be designated by the President as a Cabinet officer. In this capacity, he heads the Intelligence Community and directs the Central Intelligence Agency. After growing up in Long Island, New York, Mr. Casey graduated from Fordham University and St. John's University School of Law. He was then ad- mitted to the New York Bar. Subsequently, he joined the Research Institute of America, where he rose to become Chairman of the Institute's Board of Edi- tors. In 1943, he was commissioned in the U.S. Naval Reserve, joining the war- time staff of William J. Donovan, founder of the Office of Strategic Services. While assigned to the European Theater, Mr. Casey received the Bronze Star for his work in coordinating French Resistance forces in support of the inva- sion of Normandy and the liberation of France. Later, he became Chief of American Secret Intelligence Operations in Europe. In 1948, he served as Associate General Counsel at the European Headquar- ters of the Marshall Plan. Then, from 1949 to 1971, he practiced law and engaged in publishing and entrepreneurial activities in New York City. Mr. Casey was designated Chairman of the Securities and Exchange Com- mission in 1971 and served until February 1973. He later became Under Secre- tary of State for Economic Affairs and President and Chairman of the Export- Import Bank of the United States, after which he returned to private life and became Counsel to the New York and Washington law firm of Rogers and Wells. Mr. Casey, who has authored a number of books on legal and financial sub- jects, as well as a history of the American Revolution, holds honorary degrees from Fordham University, New York Law School, Adelphi University, and the Polytechnic Institute of New York. He and his wife have one daughter. Approved For Release 2006/01/03 : CIA-RDP91-00901 R000100250001-2 44QHNc ld We G 1W F?UN2*M WGJ Ei-2 The John Findley Green Foundation was established in 1936 by the late Mrs. John Findley Green of St. Louis. It is a memorial to John Findley Green, an attorney of St. Louis, Missouri, who was graduated from Westminster in 1884. The deed of gift provides for annual lectures designed to promote understanding of economic and social problems of international concern. It further provides that, in order that there may be "the greatest benefit from this educational effort, it is desired that the speaker shall be a person of interna- tional reputation, whose topic shall be within the aim of these lectures and who shall present it with regard for Christian tolerance and practical benevolence." The following lecturers have appeared at Westminster College under the auspices of the John Findley Green Foundation: OSCAR D. SKELTON, Undersecretary for Foreign Affairs for the Dominion of Canada, 1937; "Some Gains and Losses of the Present Generation." JOHN LANGDON-DAVIES of London, 1937; "Conflict Between Democracy and Fascism in Europe." FRANCES B. SAYRE, former High Commissioner to the Philippines, 1939; "The Protection of American Export Trade." T. V. SMITH, Member of Congress and Professor of Philosophy at the University of Chicago, 1940; "The Legislative Way of Life." COUNT CARLO SFORZA of Italy, former Ambassador to China, to Turkey, and to France, and subsequently Italian Minister of Foreign Affairs, 1941; "The Totalitarian War and After." SAMUEL GUY INMAN, Lecturer on Latin American Re- lations at University of Pennsylvania and Yale Univer- sity, 1942; "Pan American Postwar Program." WINSTON CHURCHILL, former Prime Minister of Eng- land, who was introduced by President Harry S. Tru- man, and accompanied by high dignitaries of the United States, 1946; "The Sinews of Peace." REINHOLD NIEBUHR, Professor of Applied Christian Ethics, Union Theological Seminary, N.Y., 1949; "This Nation Under God." J. C. PENNEY, Merchant, 1949; "The Spiritual Basis for Improving Human Relations." ROSCOE POUND, Dean Emeritus of Harvard Law School, 1950; "Justice According to Law." CHARLES H. MALIK, Ambassador of Lebanon, 1953; "The Crisis of Reason." HARRY S. TRUMAN, former President of the United States, 1954; "What Hysteria Does to Us" and "Presi- dential Papers, Their Importance as Historical Docu- ments." GUY E. SNAVELY, former Executive Secretary of the As- sociation of American Colleges, 1954; "College and Church in America." STANLEY N. BARNES, Circuit Judge, United States Court of Appeals, Ninth Circuit, 1956; "Government and Big Business." WILLIAM YANDELL ELLIOTT, Williams Professor of Government at Harvard University, 1957; "The Uses and Limits of the United Nations in Relation to Ameri- can Foreign Policy" and "Meeting the Political Strategy and Tactics of the Soviet and Chinese Communist Bloc in the Post-Stalin Period." DR. EDWARD McCRADY, Vice Chancellor and President of the University of the South, 1958; "Freedom and Causality." THE RT. HON. THE VISCOUNT HAILSHAM, Q. C., Lord Privy Seal, London, England, 1960; "The Iron Cur- tain, Fifteen Years After." DR. LIN YUTANG, noted Chinese author, New York City, 1961 h' C FREDERICK R. KAPPEL, Chairman of Board of American Telephone and Telegraph Company, New York City, 1982; "From the World of College to the World of Work." M. MAX KOHNSTAMM, Vice-President of Action Com- mittee for the United States of Europe, Brussels, Belgium, 1963; "The European Community and Its Role in the World." SIR GEORGE PAGET THOMSON, Nobel prize winning physicist for work in electrons, Past President, British Association for the Advancement of Science, Cambridge, England, 1964; "Science: The Great Adven- ture." ANDRE PHILIP, former Minister of Finance in France and leading International Trade Expert, St. Cloud, France, 1965; "Counsel From an Ally." JOSEPH C. WILSON, President of Xerox Corporation, Rochester, New York, 1965; "The Conscience of Busi- ness." KIM JONG PIL, Chairman Democratic Republican Party of Korea, Seoul, Korea, 1966; "Dawn Over Asia." HUBERT HUMPHREY, Vice-President of the United States, Washington, D.C., 1967; "The Iron Curtain and The Open Door." DR. FRANC L. McCLUER, former President of West- minster College, President Emeritus of Lindenwood College, 1968; "The Continuing Struggle for Freedom." THE RT. HON. THE LORD SNOW, author, scientist, teacher, London, England, 1968; "The State of Siege." THE RT. HON. THE LORD HARLECH, former British Ambassador to the United States and television execu- tive in Great Britain, 1971; "The Great Marauders." THE HON. ROBERT H. FINCH, Counselor to the Presi- dent, former Lieutenant Governor of California and Sec- retary of H.E.W., 1972; "Selecting the President: A Na- tional Franchise." GENERAL AVRAHAM YOFFE, Director Nature Reserves Authority, General Israeli Army, 1972; "Will We Succeed in Saving Ourselves?" J. WILLIAM FULBRIGHT, Senator in the United States Congress and Chairman of the Committee on Foreign Relations, 1974; "The Clear and Present Danger." CLARENCE M. KELLEY, Director of the Federal Bureau of Investigation, 1976; "Perspectives of Power." ARDESHIR ZAHEDI, Ambassador from Iran to the United States, 1977; The Challenge Facing Iran and the World Today." GERALD R. FORD, former President of The United States, 1977; "The Canopy of Tyranny." GRIFFIN B. BELL, former Attorney General of the United States, 1980; "The Sinews of Peace Revisited." CLARE BOOTHE LUCE, former member of Congress and Ambassador to Italy, 1980; "The Ghost at Westminster." THE RT. HON. EDWARD HEATH, former Prime Minis- , mese Humanism and the Modern World and ter of England, 1982; "The Changing Face of Power." "Some Good Uses bf Our Bad Instincts." p$(~~ HEN l 7PIlI1QEedit~1'orcR LeaseLZQO6iQ O3 : dKCM#~17 t" PYa t s , aYi~t' 1 d York City, 1962; "The Title Deeds of Freedom." Enthusiast." Approved For Release 2006/01/03 : CIA-RDP91-00901 R000100250001-2 PROGRAM 3:00 p.m., Saturday, October 29, 1983 INVOCATION The Rev. Dr. Harold L. Ogden Trustee and Parent OPENING REMARKS Dr. J. Harvey Saunders President of the College PRESENTATION OF THE CANDIDATE The Honorable Clare Boothe Luce FOR THE HONORARY DEGREE 37th Green Lecturer Doctor of Laws William J. Casey THE 40th GREEN LECTURE "What We Face" ALMA MATER (Audience standing and singing) BENEDICTION RECESSIONAL Jeff Reeves - Organist On the hills of old Missouri Tapestried in green. Rise the walls of gray Westminster; Hail, 0 Mother Queen! Hail, Westminster, Alma Mater On thy hilltop throne! Sons and daughters pledge devotion. Thine we are. Thine own. Dr. Saunders Dr. Richard E. Mattingly Dean of the Faculty Approved For Release 2006/01/03 : CIA-RDP91-00901 R000100250001-2 PUBLIC AFFAIRS Phone: (703) 351.1676 BIOGRAPHY OF WILLIAM J. CASEY William Joseph Casey was sworn in as Director of Central Intelligence (DCI) on 28 January 1981. In this position he heads the Intelligence Commu- nity (all foreign intelligence agencies of the United States) and directs the Central Intelligence Agency. He is the first DCI to be designated by the Presi- dent as a Cabinet officer. Mr. Casey grew up in Long Island, New York, and graduated from Fordham University and St. John's University School of Law. He was then admitted to the New York Bar. Following law school, he joined the Research Institute of America, rising to become chairman of the Institute's board of editors. He was commissioned in the U.S. Naval Reserve in 1943, joining the wartime staff of William J. Donovan, founder of the Office of Strategic Services. Assigned to the European Theater Mr. Casey received the Bronze Star for his work in coordinating French Resistance forces in support of the invasion of Normandy and liberation of France. Later, in 1944, he became Chief of American Secret Intelligence operations in Europe. In 1948 he served as Associate General Counsel at the European Head- quarters of the Marshall Plan. Between 1949 and 1971 he practiced law and engaged in various publishing and entrepreneurial activities in New York City. In April 1971 Mr. Casey was designated Chairman of the Securities and Exchange Commission where he served until February 1973. He subsequently be- came Under Secretary of State for Economic Affairs and President and Chairman of the Export-Import Bank of the United States. Returning to private life, he became Counsel to the New York and Washington law firm of Rogers and Wells. During 1980 Mr. Casey managed the successful. primary and election campaigns of President Ronald Reagan. Mr. Casey has authored a number of books on legal and financial subjects, as well as a history of the American Revolution. He has received the William J. Donovan Award and honorary degrees from Fordham University, St. John's Univers.i.ty, Chung Ang University, New York Law School, Molloy College, Adelphi University and Polytechnic Institute of New York. Mr. Casey and his wife Sophia (nee Kurz) have one daughter, Bernadette. Approved For Release 2006/01/03 : CIA-RDP91-00901R000100250001-2 Approved For Release 2006/01/03 : CIA-RDP91-00901 R000100250001-2 This Page Available for PUBLIC AFFAIRS Phone: (703) 351-7676 Immediate Release Text of Attached Speech Embargoed Until After 4:00 p.m., Saturday, October 29, 1983 DIRECTOR OF CENTRAL INTELLIGENCE WILLIAM CASEY HONORED AT WESTMINSTER COLLEGE William J. Casey, Director of Central Intelligence, will receive an honorary Doctor of Laws Degree and give the 40th John Findley Green Foundation Lecture on October 29, 1983, at 3:00 p.m. at Westminster College, Fulton, Missouri. The 1980 Lecturer, the Honorable Clare Boothe Luce, will present Mr. Casey for the honorary degree in Westminster's Champ Auditorium and will cite Mr. Casey as "a man of multiple talents and diverse interests" who "has contributed significantly to the welfare of his nation and the free world in a number of important assignments spanning the past four decades." Since 1936, the John Findley Green Foundation Lecture Series has brought a distinguished roster of world leaders to Westminster College to deliver lectures, which according to the deed of trust are "designed to promote understanding of economic and social issues of international concern." Sir Winston Churchill gave his famous "Iron Curtain" speech at Westminster in 1946. Previous lecturers also have included former Presidents Harry S Truman and Gerald R. Ford, Vice President Hubert H. Humphrey, Reinhold Niebuhr, Henry R. Luce and Edward Heath. Last year Secretary of Defense Caspar Weinberger spoke. Mr. Casey's audience is expected to include Westminster's President J. Harvey Saunders, Dean of the Faculty, Dr. Richard E. Mattingly, the Board of Trustees, faculty, students, and parents. Mr. Casey's speech, titled "What We Face," will detail the Soviet worldwide challenge"to U.S. interests and call. for a realistic U.S. counter-strategy, especially in the Third World. The text of Mr. Casey's speech is attached to this press release. Approved For Release 2006/01/03: CIA-RDP91-00901R00010025.f &1 QF RELEASE STAT Approved For Release 2006/01/03 : CIA-RDP91-00901 R000100250001-2 Approved For Release 2006/01/03 : CIA-RDP91-00901 R000100250001-2 SECRET Approved For Release 2006/01/03 : CIA-RDP91-00901 R000100250001-2 Presentation of Medal to DCI, by DDCI, 6 October 1983 It seems that in the past few years, DCI's or their Deputies, have talked here maybe 30 or 35 times and I have never seen an occasion when there has been so much speculation over what is today all about. It did prove, Bill, that we have a very poor intelligence organization. It started off that you were leaving, then I was leaving, then both of us were leaving andI am pleased to say that it is really Bob Magee who is leaving. Director Casey, Mrs. Casey, we are delighted for this occasion today. I sort of looked around to see what theme I might build today's occasion on and for those of you who are current events buffs who realize that this week is National Pasta Week, and while that might be a good. theme for the Vice President of Shakey's, it doesn't hang together for the DDCI to be talking about pasta. I asked Ed Sayles if he knew anything about what was good about October 6th and he said, sure enough. He said back in October 6th, 1778, General George Washington wrote a letter to a gentleman by the name of Lord Sterling. Now that is a real name and not an after shave lotion, and he told the Lord about intelligence and something near and dear to our heart and he urged Lord Sterling to use all assets available - even spies - to try and garner information about the British that would be useful for General Washington's decisions. He concluded his letter by saying, every minutiae should have a place in our collection.' John Stein has taken that to heart and the DDO has been collecting minutiae ever since. A few days ago, Jim Taylor and I were reflecting upon the state of the Agency. We do that every now and then. As the Inspector General, Approved For Release 2006/01/0,1: CIA-RDP91-00901R000100250001-2 Approved For Release 2006/0'/,6?A-RDP91-00901 R0001 00250001-2 he has a unique insight into how this place ticks and we soon concluded that we are in not only pretty good shape, but superb shape. The more we began to cultivate that idea, the more we realized that there was one principle theme that flowed through that and that theme was Bill Casey.. So we thought that it would be appropriate for this Agency somehow to express it's appreciation to.the individual that's made all that possible, namely our Director, Bill Casey. Now Bill, as you well know, it's very difficult for subordinates to do anything for superiors- There's laws against that. Those of us who have been under the pay cap for fifteen years and lived the austerity of government service also realize that the only real favor you could do for us would be to fire us so we could go out and make some money. But if you look at what has happened since the 28th of January 1981 when Bill Casey came on board, it's rather remarkable. Now granted, Bill, you face an audience that's quite unique; you have faced many people, many distinguished groups in your life, but probably nowhere have you faced people who are universally so competent and so dedicated as the folks before you. These are the people that we could spare - the real workers are at their desks. But if you look at the fiscal years that have accumulated since Bill Casey's reign and see just what has happened physically within the Agency, you have to be very proud to have served in that and experienced that. We have about 2500 more people than we did before he came; our budget is close to 80 per cent greater and we started off in a capitalization and investment process so that the Agency will remain healthy in the out years long after we are all gone. FBIS enjoys a 150 Approved For Release 2006/01/03 : CIA-RDP91-00901 R000100250001-2 Approved For Release 2006/01IA-RDP91-00901 R000100250001-2 million dollar modernization program. Communications is in an upgrade to the tune of 503 million dollars. We have a new building that hopefully will start breaking ground in March or April next to the tune of 191 million dollars. NPIC, with some ancillary efforts, totals an investment of over a billion dollars in the next four fiscal years. That's just to accommodate the miracle machines that Evan Hineman and the DDS&T are able to put up in our skies to give us the visibility that we need. The production within the DDO was up 29 per cent. Of coure, we well appreciate what has happened in the DDI with the quality .of intelligence that we are able to put forth to our policymakers - quality that is quite unique and never before experienced. And the best part of it is, it's being used. It's a delight to sit in'the highest councils of our government with Bill Casey and watch the President, the Vice President, the Secretary of State and Defense pick his brain and out regurgitated comes the fruits of your labors and it's pretty nice to know that CIA is very much a part of those decisions that are taking place in this Capital. You have before you an individual who since coming on board as Director of CIA has met with 47 Heads of State - some of them many times. Nowhere before has CIA enjoyed the prestige and leverage that that can bring. More importantly, however, it permits a personal input into what these world leaders think, fear, and feel - all of which is integrated into that final product which is laid before the-President. So, Bill Casey, we are all very pleased to have shared.this wond.erful.time with you. As Bob Magee said, "it gives the troops some Approved For Release 2006/01/0? : CIA-RDP91-00901R000100250001-2 Approved For Release 2006/-/9QIA-RDP91-00901 R0001 00250001-2 way of expressing their thanks to you." Today we want to award you the Agency's highest award, the Distinguished intelligence Medal. ,Now we have done that with a few Directors in the past, usually on their way out. We are not trying to give you a hint, but it is some visible way for us to say thank you for what you have done - not only for this Agency but for the United States at large. I would like now if you would stand with me while Mr. Magee reads Bob Magee: "William J. Casey is hereby awarded the Distinguished Intelligence Medal in recognition of his outstanding leadership of the Central Intelligence Agency since January 1981. Under izis guidance and direction, the Agency has been strengthened and its health restored. His unique insight into the needs of our policymakers has brought imagination to our operations and relevance to our analyses. His experience and deep appreciation of world affairs add immeasurably to the creditability of our product and fulfillment of our mission. Mr. Casey's performance is in the highest tradition of federal service." Mr. Casey: "This is my first experience on the receiving end. John is so good on the awarding end that I think he can present all the medals from now on, John. I was afraid that I would have to make it clear that I am not leaving, but John took care of that and Bob I think you. ought to hang around awhile too. I really am very touched in your giving me this recognition before my work is finished. I really get ample reward every day in the satisfaction of working with ynu and getting things done together, things which our country needs. I like Approved For Release 2006/01/03 CIA-RDP91-00901R000100250001-2 Approved For Release 2006/CIA-RDP91-00901 R0001 00250001-2 to think that the resources in the budget and the other things that John mentioned that have come our way are important but not as imiFortant, and perhaps, not as meaningful, as the initiatives we have taken to get and the things we have accomplished, the things we have done, the uncovered ground that we have managed to move into, with whatever the resources that are available. And I am so proud of the dedication and the spirit and the quality of the people and what they are able to achieve here and so grateful for the warmth and the vigor of the support that you have given me and to what we are all trying to accomplish together. I have been involved in a great many endeavors and many fine organizations, both in government and in the private sector, but I count this by far the richest experience of all and for that I thank all of you from the bottom of my heart." Approved For Release 2006/01/03 : CIA-RDP91-00901 R000100250001-2 5 Approved For Release 2006/01/03 : CIA-RDP91-00901 R0001 0 WILLIAM J. CASEY Bill Casey, the newly named London SI chiefl responsible for or- ganizing the German operations, was a thirty-two year old New York attorney who had made a fortune before the war writing "how-to" hand- books for other lawyers. He was a large man whose casual manner dis- guised boundless energy and confidence. His machine-gun speech accur- ately reflected the speed of Casey's mind... In Casey, OSS had a man with an analytical mind, tenacious will, and a capacity to generate high morale among his staff. He delegated authority easily to trusted subordinates and set a simple standard- results. He had no patience with the well-born2effete who had flocked to OSS, people he dubbed the "white shoe" boys. -Joseph E. Persico in Piercing the Reich lSecret Intelligence, i.e. the collection of intelligence by clandestine means Other major OSS components were SO, i.e. Secret Operations be- hind enemy lines to assist and nourish resistance movements; R&A, Research and Analysis; MO, i.e. Morale Operations or "black propaganda", and X-2, or counterintelligence. 2Casey was responsible for placing 102 intelligence collection missions into the Third Reich while serving as Chief of Special Intelligence, Lon- don. Approved For Release 2006/01/03 : CIA-RDP91-00901 R000100250001-2 Approved For Release 2006/01/03 : CIA-RDP91-00901 R0001 00250001-2 I CTS i,~~t::ii D CONGRESSIONAL QUARTERLY p pAGa WEEnY RZFORT 20 DEER 1980 c17 William J. Casey: Central Intelligence Director President-elect Reagan apparently is getting oft' on he right fcsn with the American intelligence establishment by naming 67-.',ear-old lawyer and self-made millionaire \Villiam Joseph Casey as director of centraUntelligence. Indeed, some prominent former intelligence officials ;in- i'lotp rl by the ( hoice ot. t'nsev, who they soy may he ust the tonic to t'ortify anemic morale at the Central In- tY11il-ence, Agency and in the intelligence community at %%'illiarn E. Colby, a former CIA director who practices law in Washington, said Reagan's choice was "a very good one" because Casey "has it unique background and ,uae very appropriate for t he ,b,'? ('tisey's background in Ivies: ? World War 11 service n the Office of Strategic Ser.ices LOSS), the CIA's wart i me pred ece.ssor. working to infiltrate U.S. aeon::? into Europe. ? successful careers as a tax lawyer, teacher, Writer and businessman that have earned him a Cori urge. ? Long and close associations with establishment Re- puhlicans that led him to terms in the early 1970s as chairman of the Securities and Exchange Commission, un- der secretary of state for economic affairs and president of the Export-Import Bank. ?An ardent interest in intelligence matters, demon- strated by active participation in groups such as Veterans of the d'-)S and the Association of Former Intelligence Officers, plus service on President Ford's Foreign Intel- 1.4ience Advisory Board. ? A brief hut successful stint as Reagan's presidential campaign manager that earned him Reagan's respect and his ear, and got Casey the job he has coveted for years. Such experience, concludes John Bross, a former OSS and ('[A officer who know: Casey, makes the director- designate an "ideal choice for this job." Mixed Reception While he is known and generally admired among his intelligence community contemporaries, one active CIA of- ficer said Casey was a stranger to younger officers. "I can tell you honestly, the reception's going to be mixed [at the CIAI," this officer said. "Nobody knows anything about him. It's really a 'wait and see' attitude." But Casey has his doubters, including those who won- der whether a man who has done na intelligence work since World War II can run a modern spy agency. Another question is whether Casey. whose rumpled. relaxed manner and wispy white hair rrpake him Icwk every bit his 67 years, has the energy to oversee the CIA and some 10 -1?aw?rence Houston, an OSS veteran and former CIA general counsel, is one skeptic. "People that worked with him seemed to think pretty highly of him." Houston said. "i've sal~,n~s frankly been a little puzzled by Bill. He knows rill the right names to call. I've never been particularly impres.-ed by him otherwise." According to author .Joseph Persicu, Casey's appear- ance alwavs has been deceiving. In !'iercing the Reich, a bswk about the OSS operation Casey worked in. Persico wrote: "In f asev, OSS had a man with an analytical mind. tenacious Ail! and a ' capacity Lo generate high nuarale among his staff. r-ie delegated authority easily to trusted subordinates and set a simple standard - results. He had no potionce with the well-born effete who had flecked to OSS. people he dubbed the.'whi.te-shoe boys.' " The criticism that Casey may be "out of touch" with modern intelligence operations resembles doubts expressed when he became Reagan's campaign manager Feb. 26. Campaign insiders said Casey did not understand modern media campaigns, the heart of modern political contests. Casey responded at the time: "I'm not supposed to know everything. I'm bringing into the campaign guys who have been there before, who know all these mysterious things I'm not supposed to know." But a lack of recent intelligence agency experience could prove a political virtue. Casey is untainted by the CIA abuses of the 1960s - such as attempts to overthrow or assassinate foreign leaders - that smudged the agency's image when they were exposed in the 1970s. Consequently. even an unforgiving CIA critic such as Louis Wolf. editor of a magazine dedicated to exposing CIA operations and publicly identifying U.S. agents, had difficulty criticizing the appointment. "I'm still in the pro- cess of looking into his background," Wolf said. Morton H. Halperin. an equally vigilant but less stri- dent intelligence community critic who is active in the Arerican Civil Liberties Union, said he would "wait and see" about Casey. "I really don't have an opinion," Halperin said. "I don't know enough about his record." Background, Personality Born on March 13,. 1913, and raised in Elmhurst, Queens, in New York City. Casey was such an energetic child that, by one account, his peers called him "Cyclone." Casey earned a B.A. degree from Fordham University in 1934 and a law degree from St. John's University Law School in 1937. He began practicing law the following year when he was admitted to the New York State Bar. He was commissioned a lieutenant in the U.S. Navy when the war began, in 1941 but poor eyesight confined him to a desk job in ashington. Through friends in legal circles. Casey connected with Maj. Gen. William J. "Wild Bill" Donovan, the Wall Street lawyer President Franklin D. Roosevelt tapped to form and run the OSS. This led Casey into the OSS. Casey left the OSS with a reputation as a forceful. manager who could make tough decisions with speed and see that they were carried out. He remains supremely con- fident. When Reagan named some new campaign aides in July. Casey announced with authority: "Everyone re- ports to me. Every campaign has to have a final arbiter, and that's me." oiher.intelligence community components, _ f Approved For Release 2006/01/03 : CIA-RDP91-00901 R000100250001-2 Approved For Release 2006/01/03 : CIA-RDP91-00901 R000100250001-2 '['hose who followed the Reagan campaign said Casey .~ nr,t in fact the tinai arbiter on political decisions. Hsi: he won praise for taking tough steps that rescued the-c:ampai,n. He fired 100 campaign aides and refused pay others for awhile. His tourniquet stopped the fi- r:;:ncial hem.orrhaging. Ca-ev has hen in and out of government ever since ~1 r rici War 11. In 1947-48 he was special counsel to the -rate mail Business Committee and later associate gen- er:rl c' inset for the Marshall Plan. Ht? taught tax law at New York i",.i a;~d 1962. In this period he wrote :11) rnanrtals for lawyers and executives. Among the titles were Tax Planning art h'xrrss Profits and Tax Sheltered lrtr.,r?..tmrnt.. I.att-r? he also wrote Nr,ue to Raise Nfoavy to :tfr,a .v and /lom Federal 7'rtx Angles Multiply Ron; Est'-t'. l'rr,fits. Casey has practiced law throughout his career, and amrmg his partner` was Leonard W. Hall, a legend in GOP circles in New York. Casey was active in GOP polirics himself. He worked tier Thomas Dewey's 1940 and 1948 presicienlial bids. He ran a foreign policy group in Vice }'resident Richard M. Nixon's 1960 presidential campaign. In 1t166, Casey ran unsuccessfully for the U.S. House. He worked again in 1968 for Nixon who tit hi t - University between and published some ow. ever, when Henry A. Kissinger became secretary of state, Casey was moved into the presidency of the government's Export-Import Bank. Controversy Casey's publishing ventures led to one dispute that caused him difficulty when he was nominated to the SEC. The Senate Banki g Committee. approved Casey's nomination by a 9-3 vote soon after Nixon made it but reopened its hearings aftei news stories disclosed that Casey had been a defendant in three civil suits between 1962 and 196-5. One suit involved a plagiarism charge against one of Casey's publishing ventures. Another charged that a firm in which Casey was a director and principal stockholder had sold unregistered stock, a violation of securities laws. The suits were settled out of court, and Casey con- tended before the Senate committee that he was unaware of the action: of his subordinates, The Banking Committee ultimately reconfirmed Casey to the SEC on March 9. While he was SEC chairman, some congressional Democrats also charged that Casey had attempted to con- ceal information about the relationship of the Nixon ad- ministration to the International Telephone and Telegraph Corp. (ITT). A special House subcommittee was investigating re- ports that I'CT had offered to trade a $400,000 campaign contribution to Nixon for settlement of an antitrust suit, and Casey shipped 34 cartons of SEC documents to the Justice Department before the panel could subpoena them. Justice said it would refuse. to turn over the documents because they were being used in a criminal investigation. It was later revealed that some of the documents con- tainet information about conversations between ITT of- ficials and Attorney General John N. Mitchell, Secretary of the Treasury John B. Connally, Vice President Spiro T. Agnew and John D. Erhlichman of the White House staff. In another case, Casey met in 1972 with a lawyer for Robert L, Vesco about a pending SEC investigation of the financier. The meeting was on the day Vesco secretly gave $200,000 to the Nixon campaign, but Casey has main- tained he learned of the donation only later.-from news" accounts. There was conflicting testimony in each case, and Casey was never charged or penalized for his role in either. -By Richard Whittle Advisory Committee on Arms Control and Disarmament in 1961. President Nixon named Casey to the Securities Ex- change Commission (SEC) on Feb. 2, 1971. After a some- th-nes stormy tenure as SEC chairman, Casey was named under secretary of state for economic affairs in 1973 H Approved For Release 2006/01/03 : CIA-RDP91-00901R000100250001+2 Approved For Release 20 01/ : CI -RDP91-009 1R000100250001-2 I e is lin ton star CLOSE-UP the ,_,4,.N ase , 'T'ake- here Boss By dames R. Dickenson Wa tAni,tonStarStaff Writer When he announded the appoint- ment last %vef k of several. top aides in Ronald Reeagan's presidential campaign, William J. Casey, the campaign director, made it clear who would be in charge. "He'll report to me," he said when asked about William Timmons, whose acceptance of the job as head of campaign operations was one of those announced. "Everyone re- ports to me." Casey then was asked if Edwin Meese, the campaign chief of staff and a longtime Reagan associate. wasn't a co-equal in the campaign hierarchy. "That's a misapprehension," Casey replied. firmly. "Every cam- paign has to have a final arbiter and that's me." It remains to be seen whether Casey can exercise such authority over people like Meese and com- munications director Franklyn Nof- ziger, who may be closer to Reagan than anyone else in the campaign, but the episode tells a good deal about Casey. He is a forceful, take-charge man. lie has quickly won Reagan's confi- dence and has skillfu:ily exploited it to strengthen his position in the organization, which like any other ,presidential campaign, has its share of competing factions He also is knack for cutting through to the heart of a problem. He also is a sharp infighter who is bringing his own people into the campaign and constantly builds bridges and elicits information from others. Not only has he won Reagan's respect ("Gee, Casey really did a great job here didn't he?" Reagan marveled to an aide after a primary victory that was pri- marily the result of his own cam- paigning skills.) He gets rave re- views from Reagar's top advisers. These include Meese and others of the "California Mafia" whose associ- ation goes back to Reagan's eight years as governor of California. He was the unanimous recom- mendation of Meese, Sen. Paul Lax- alt of Nevada, Reagan's national chairman, Richard Wirthlin, his pollster and strategist, and M;ke Deaver, another longtime Califor- nia intimate and adviser. . "I discovered Casey," Meese says. "He's a rare blend of Irish humor, experience, and sagacity. He's inde- pendent and strong-willed and an amazingly hard worker. He keeps a little satchel in his office with clean shirts and shaving gear so he can go anywhere'- Detroit, Houston, wherever - at a moment's notice. When the governor asked him to come up to Andover (Mass.) to take over the campaign, he came im- mediately and then spent the next 10 days on the road." determined to recruit top,quality, "One of Bill's strengths is that experienced men like Timmons re- they asked him, begged him, to take gardless of ideology and back- the job," says political consultant F. ghround, and count on them to offset Clifton White, a longtime friend is own shortcomings and lack of and colleague. experience. "He represents no faction," says Like anyone else of his back- another political professional who round ike Casey brings a long list of recently joined the campaign.. "He's loth strengths and weaknesses to a cohesive force between the old ifs job, which he assumed the day hands and the new." tf the New Hampshire primary. Casey is particularly credited That also was the day Reagan fired with reorganizing a campaign that, 1ohn Sears as his campaign man= was on the verge of bankruptcy - ,per and named Casey to replace ? Reagan spent less than1-15,000 on rim, television after the Illinois primary By all accounts Casey is intelli- on March 25 - and helping keep it ent, capable, decisive; self-confi- on track until the end of the pri ent, and experienced both in gov- man es. nment and past presidential and On the other hand, Casey is >cal campaigns. He is a brilliant faulted for not understanding the ,wyer, an entrepreneur who is a . new politics of television, direct 1f-made multimillionaire, and the mail, and the use of polls, for not ifthor of a number of books on tax knowing the names of the players iw and one on the American Revo- today, for not transcending the poli- ction. tics of the 1940s and 1950s. Ile has an eye for detail an uroved For Release, 9n / 3 :CI,p,~~nP9J-CQ0901 000100250001-2 PieWasn,nE;to:~Starie.~-rn:: "~ ~ WiIram . asey, chief of t )e Reagan campaign. Approved For Release 2006/01/03 : CIA-RDP91-00901Rbdjf6bj~d'(%TiOQ! STAR tr'onday, Juty 14, 193 William Casey, the Campaign Boss Who's in CM ;'rm not supposed to .now evgrything," Casey ' In addition, charges of improper actions have h?.responded, sitting in his officeat the new na- pursued him, during his business life and his gov- ' tional headquarters in Arlington;last week- 'Tm Some critics believe that Casey's desire for a '.thingsrmnotaupposedtoknow.'n'. ; ably Secretary of State - keeps him from taking 'slow in developing detailed positions on the any stand that might antagonize the most influen- issues to counter President Carter's. expected at- tial people around Reagan. The recent unsuccess- tack that Reagan is an ill-informed ideologue. ful attempt, which Casey opposed, to replace Bill This includes an economic program that will Brock as chairman of the Republican National enable him to reach out to minorities -Reagan's Committee is an example...:, decision not to address the NAACP convention is "When you're looking for a job in the new'' a case in point -m blue collar workers, and other admdinistration you don't want to take on anyone potential Democratic and Independent groups. been slow to enlist governors and other' arty -leaders for what promises to be a hard lose , fight.-=:+ ~.?...a:. ,He is also criticized for. being a. poor in-house man with an Irish moanface. He handles news- : ! really feel a part of things," says one key lieuteh ,men at his infrequent press conferences with a combination of assurance, sly humor, and a terse .ness 'that recalls the Boston Irish political f edge-~' 'ment; "He wouldn't tell you. if your coat was on. fire."'` ,' Casey, who earned a7 reported $300,000 Iasfyear,y is accustomed to associating with the rich ands. powerful He has worked in the presidentiarcam paigns,of nearly every major Republican candi-';. date since 1940. From his OSS days he became friends with'.. David K.E. Bruce, former ambassador to Great Britain, Germany, and France, former CIA chief - Allen Dulles, and John J. McCloy, former High Commissioner of Germany and chairman of the Chase Manhattan Bank. He is a law partner of former Secretary of State. William Rogers and for years was law partner, personal friend, and right-hand man in Eisen- hower's presidential campaigns to the-late Len Hall, former Republican national chairman.: - '`He doesn't have areal political sense so he. doesn't understand the nuances and fragile egos involved," says one, campaign staffer. "One of his strong points is that he goes directly to the prob- ? lem and names someone to do a job because he wants results.-.But a'.politician would spend a day devising three face-saving titles to keep everyone happy and on board." .. A top adviser disagrees. "He confronted the problem of who's going to run the campaign in Texas, which is a crucial state. He went down there, met with Governor (William) Clements and Ernie Angelo, who ran our primary campaign. They worked it out. Cle- ments is chairman, Ernie is deputy chairman and campaign director and everyone is happy." - Casey shrugs off these criticisms as nonsense. "I get a little annoyed by reports that the cam- paign's in disarray," he said last week. "We're a month`or six weeks ahead of where.Jerry Ford ing on backroom assignments while Hall was out,._ F was four years ago. I've made some mistakes but front," says a campaign staffer. He loves being in.- You always do better the second time around." , the spotlight now calling governors and.talking,- hefted two thick loose-leaf notebooks.tliat t-; , were on his desk and held up an organization to the press .'z Casey is running Reagan's campaign partly be- I chart showing the coordination of the Reagan cause he was in the right place at the right time. ,; campaign with those of the Republican Senate.., He was co-chairman; of Reagan's' formal-an_`-,tl and Congressional Campaign Committees and the nouncement'dinner last November and late; last Republican National Committee. year was named to Reagan's executive advisory >- The state plans and .organizations and the committee. A.':T,, .* t voter groups," he said of the notebooks. "We're About a month before the.New Hampshire. pri ready to go. wary he volunteered'to `work- with Meese on ? Casey's admirers, who are legion in the cam- issues research. and development and impressed paign organization, think the criticisms are ill-in- everyone with his incisiveness. There apparently. formed. was little debate eve- who would succeed Sears. .7--,1' "How can anyone say he's failed when he didn't "Casey had national experience, was Eastern, have any money to. do any of-these things?" says was decisive and could afford to take a year off one. He was the first to find out how much for the campaign, 'says one of Reagan's top aides. - money had been spent and how much was left He "He acts and operates like the chairman of the . appointed a controller and stopped the practice of board. He's not a staffer, the way Sears was. He's a . -letting anyone and everyone authorize expendi. senior statesman and has clout and prestige al. tures. He made the hard decisions to cut the staff, most on the level of Laxalt", which was about 300, in half.and get some to take This should please Casey enormously. If there's pay cuts." -;; - one thing guaranteed; to drive him into a init, it's; In shutting down one headquarters as part of to be compared unfavorably with Seals, his briV--_-_ the economy move, a lawyer told Casey.that there lian't, youthful (40) predecessor:,yj_,: might be legal problems in breaking the lease. "Bill doesn't understand the new politics, tv, "Don't give me that legal crap,. he reportedly rect mail, polls and whit theyneed to accomplisli replied. "Just: tell. them we're out of money. because he's still in the -Dewey, Eisenhower age,", They'Il find another tenant" says one campaign adviser,,."He's enormously:,;: . Casey grew up In Queens and Long Island and proud of this citizens-group grogram he had de-, _ went to undergraduate school at Fordham. He veloped, but it's a monstrosity modeled after the went to St. John's University School of Law at Eisenhower citizens organizations.--q ';' `? ..;.:} 4 night while working as a New York City home re- He tells the guys out in-the.field that what,- lief investigator. they need to do is identify,Reagan's voters and:?, He was commissioned in the Navy in World turn them out but in some'critical states we'll lose War II and when his eyes proved too weak for sea even if we get every single;Reagan voter out to duty he wangled an assignment with the OSS. He the polls. In many areas all a lot of people know, ? i becme chief of secret intelligence for Europe about Reagan is that he used to be amovie actor land coordinated the placement of intelligence. and governor of California and that a lot of peo- and sabotage teams on the continent - . ple think he's a right-wing ideologue. We need to move Reagan several points to the center, and you need television to change these perceptions. Fortunately, Timmons understands this." knew the move on Brock shouldn't have been at-, tempted but if you think he was going to tell Nancy and Laxalt and Nofziger and Meese that,, forget it.". Approved,For Release 2006/01/03 : CIA-RDP91-00901 R000100250001-2 Approved For Release 2006/01/03 : CIA-RDP91-00901 R000100250001-2 He has remained active in the Veterans of the OSS organization, has been president--of the .group, and joined Eisenhower. Allen Dulles, McCloy and Sen.- Everett M. Dirksen as recipient of the Donovan medal for distinguished service to the United States."He's-been very loyal to'his former colleagues," says James Keliis an execu-'. tine with United Technology `wh:o.was part of a sabotage team 'in Greece during the war-!Ile got one admitted to a Veterans' Administration hospi- tal on. the West Coast and as 'undersecretary of state he helped a man from my.village'iri Greece .get his wife admitted to the US." t Since World War H, Casey has lived in Long W., land although he and his wife are taking an apart,-,, ment in Washington during the campaign: He has- a daughter who is in her 30's and is active in the: arts in New York City volumes of history andbiography.,: He is active in community affairs and local poli- Politically Casey is,described as a conservative who believes in a strong national defense and the free enterprise system. He helped incorporate William Buckley's conservative magazine, Na- tional Review, and was executor of the late Jim Wick's desire that his estate be arranged to en- sure the continued publication of Human Events. During the Nixon years he was president of the Export-Import Bank, chairman of the Securities Exchange Commission, and undersecretary of State for economic affairs.. _ He purchased the Washington home of the widow of Robert McCormick, the famous pub- lisher of the Chicago Tribune, by outbidding the Japanese Embassy. When Mrs. McCormick asked him how she should explain it to the Japanese, Casey responded: "Tell them to remember Pearl - TI As chairman of .the SEC.. Casey got generally,. -Times and the thndop Economist: He restored the his predecessor, and pushed through _a number of But in that job, and in some others, Casey faced' _ charges' of improper actions that have pursued' .;Among those that have come to light were a suit for plagiarism that was brought against his knowledge of the actions of subordinates. He was leged violation of the securities laws and misrep- also settled. - . The' Senate Banking Committee delayed his . Exchange Commission while it examined these cases, but ultimately did recommend his confir- As chairman of the SEC, he was touched by twd of the major scandals of the Nixon_administra- One was the ITT case which involved, among other things, a charge that Casey lied to the other members of the SEG.- The House commerce subcommittee that was investigating reports that ITT offered to trade a .$400,000 campaign contribution for settlement of an antitrust suit, was about to subpoena 34'car- ITT officials and Attorney General John N. Mitch- ell, Secretary of the Treasury John B. Connally, Vice President Spiro T. Agnew and John D. Erh- lichman of the White House staff. involving financier Robert L. Vesco, who made a secret $200,000 contribution, in S100 bills, to the Nixon re-election campaign while he was under fund complex..The key Nixon administration offi- cials allegedly, Involvedin the matter, Mitchell and -Secretary of Commerce Maurice H. Stans, were later acquitted of charges of obstruction of justice in the case. But Casey admitted having -been asked by Mitchell to see Vesco's lawyer on the very day,-in April, 1972, that the lawyer, Harry Sears,-delivered the contribution. Casey saw Sears immediately but said he didn't learn about the contribution until he.read about it later in the newspapers. ' - At the trial of Mitchell and Stans, the SEC's director of. enforcement, Stanley Sporkin, a greatly respected civil servant, testified that Casey had asked him to postpone certain aspects of the Vesco investigation until after the election. Sporkin said he refused. Casey testified that -he had been asked for such a postponement by White House Counsel John W. Dean 3rd, but that he was the one who refused Casey contends that the breadth of his business, ..interests,-- he testified that has been involved in' about 25'different new enterprises"concerned with development- and change in our-society" -- explains thecontroveries that have involved him. He also has an explanation for his decision to take a year away from. his business to run Rea- gan's campaign.."I worry about the direction -our country is taking," he said last week. .1 care about ' who s going to be President." - Approved For Release 2006/01/03 : CIA-RDP91-00901 R000100250001-2 Approved For Release 2006101103A9_1-??901 R000100250001-2 The Clandestine War in Europe (1942-1945) Remarks of William J. Casey on receipt of the William J. Donovan award at Dinner of Veterans of O.S.S., December 5, 1974 Presentation Ceremony, left to right. William P. Rogers, Mrs. William J. Donovan, William J. Casey. Approved For Release 2006/01/03 : CIA-RDP91-00901 R000100250001-2 Approved For Release 2006/01/03 : CIA-RDP91-00901 R000100250001-2 Donovan Award Citation The Donovan Award must go to an individual "...with the spirit. ..and the features which characterized General Donovan's career." William J. Casey amply fits these specifications, as soldier, lawyer, author, diplo- mat, and banker. It was in World War II that the O.S.S. first knew him in action. He be- came Chief of Secret Intelligence for the European Theatre of Opera- tions where his great drive and judgment made their mark. One of his many dramatic hours was his lightning organization of the radio teams he parachuted into Germany to send back intelligence on enemy posi- tions there, from the Battle of the Bulge to Hitler's last redoubt. His many operations gained military objectives, helped to shorten the war, and saved an untold number of lives. As a public servant, he well fills the mold of William J. Donovan. Like Donovan he has been a consistent student and activist of the strategic position and problems of the United States and of the role of its intelli- gence and operating agencies as vital tools in foreign policy. On this plane he helped design the Central Intelligence Agency, served on the General Advisory Committee on Arms Control, on the Presidential Task Force on International Development, and is currently a member of the Commission on the Organization of the Government for the Conduct of Foreign Policy. Recently he has served with distinction as Chairman of the Securities and Exchange Commission, and with notable success as Under Secre- tary of State for Economic Affairs. Now, as Chairman and President of the Export-Import Bank, 'he is serving his government with great wis- dom. As a person, he is full of the courage that General Donovan exempli- fied and loved in others, and that Hemingway called grace under pres- sure. He has consistently shown his humanity in his work for Catholic Charities, as a Trustee of Fordham, as a Director of the International Rescue Committee, as a distinguished attorney, and as a friend to count- less others. Approved For Release- 2006/01/03 : CIA-RDP91-00901 R0001 00250001-2. Approved For Release 2006/01/03 : CIA-RDP91-00901 R000100250001-2 The Clandestine War in Europe (1942-1945) How can I adequately express my appreciation for the William J. Donovan Award. This medal has very special meaning for me. There is the great affection and admiration which General Donovan holds in my memory. There is the example and inspiration he provided during the 15 years I was privileged to regard him as leader and friend. So many of my most cherished friendships were formed in the OSS and for all these years I have been proud of what we were able to do together. This sentiment extends in a special way to those who have come across the Atlantic for this occasion tonight and to so many others who worked with us throughout Europe. At the time, we may have known them only as numbers or code names, like Caesar for Jean-Pierre Roselli, but strong friendships and bonds have formed and flourished across the Atlantic over these 30 years. We have visited back and forth and attended each other's re- unions. We've even overcome the barriers of language, notably when the French invited us back for the 20th anniversary of their liberation. They took us all over France and everywhere we'd go, there would be an occasion and a speech. I had to respond in my fractured French and I would begin: "Nous sommes tres heureux d'etre ici." This was intended to mean, "We are very happy to be here." After a few such per- formances, Barbara Shaheen, who had studied French in school, came to me and said: "Bill, you are saying, 'Nous sommes tous heros,' " which means, "We are all heroes." I hope you won't think that's what I'm saying tonight, as I tell you for the first time the full story of OSS. For us, in the United States, it all began with a New York lawyer who saw his country facing a deadly menace and knew that it was un- prepared and uninformed. It's hard for us to realize today that there was a time in 1940 and 1941 when William J. Donovan was a one man CIA for President Roosevelt. I remember General Donovan bouncing into London, with little or no notice, brimful of new ideas, ready to approve any operation that had half a chance. He'd come tearing in from New Guinea, or wherever the last invasion had been, and go charging off to Anzio, or wherever the next landing was to be. Approved For Release 20Uh/Ufi1 - - =2-- - - - - --- Approved For Release 2006/01/03 : CIA-RDP91-00901 R000100250001-2 He really loved the smell of battle but he'd look at you with his cherubic smile and twinkling blue eyes and explain that he had to be at these landings to see, first-hand, the conditions his men had to face. Donovan's manner was deceptively mild. A few years earlier, running for Governor, he had campaigned through upstate New York. The local politicians, expecting this legendary World War I infantry hero to come roaring and thumping into town, were disappointed by his soft voice and his gentle manner. The saying was: "Donovan came into town as Wild Bill and left as Sweet William" What was the OSS and what was it all about? It was probably the most diverse aggregation ever assembled of scholars, scientists, bankers and foreign correspondents, tycoons, psychologists and football stars, circus managers and circus freaks, safe-crackers, lock pickers and pickpockets-some of them in this room tonight. You name them, Donovan collected them. What did he do with them? Well, he unleashed them-John Shaheen was unleashed to capture the Italian Fleet or at least an Italian Admiral, HenPy Hyde to build an intelligence network in France, Mike Burke to liberate the Vosges-and these and many others delivered magnificently. Now, General Donovan unleashed this talent in a very intelligent and perceptive way. He knew he had a bunch of rank amateurs going into a very professional game. He knew the British had run an intelli- gence service for five centuries and had been working for three years to carry out Winston Churchill's dramatic order "to set Europe ablaze." So, Donovan either set up joint operations with the British as he did in sabotage and resistance support and in counter-intelligence or he set up parallel but closely related organizations and arranged for an appro- priate degree of British tutelage as he did in intelligence and propa- ganda work. Donovan grasped the value of the clandestine side of war as no other American of his time. But, its potential was realized not by his OSS but by the combined effort of British and American clandestine services, of the Allied Governments in exile and the resistance, intelli- gence and escape organization which sprang up spontaneously all over Europe. OSS, coming into the European war three years late, would not have been able to do very much at all if the British had not taken us in as junior partners and so generously taught us all they knew. For this we are ever grateful to our colleagues in the Special Forces Club which Geoffrey Walford has so graciously come here to represent tonight. Mrs. Tronstad was close to the first and perhaps the most vital blow inside Europe. Her husband, Lief Tronstad had produced nuclear terror in England in 1942 before we ever heard of the atom bomb. Escap- ing from Norway, this Norwegian scientist brought intelligence which led the Combined Chiefs of Staff to believe that the secret weapon brand- Approved For Release 2006/01/03 : CIA-RDP91-00901R000100250001 2 Approved For Release 2006/01/03 : CIA-RDP91-00901 R000100250001-2 ished in Hitler's speeches was an atom bomb based on heavy water. He had learned the Germans had ordered a tripling of production from a plant in central Norway which was the only source of heavy water in Europe. The Combined Chiefs set the highest priority on destroying this plant. Professor Tronstad knew that plant so intimately that he was able to design plastic explosives in a pattern which exactly fitted its critical distilling tubes and pipes. Nine tough Norwegians parachuted in, succeeded in entering the plant, applying the plastic designed by Lief Tronstad and escaping before the plastic explosive destroyed the plant. But several months later, the Germans had the plant back in operation. The Combined Chiefs then sent 155 American flying for- tresses over to bomb the plant. This massive air raid killed 21 Nor- wegian civilians and 22 Allied airmen but did only slight damage to the plant. But this was enough for the Germans to decide to move the plant and its inventory to Germany. This intelligence got back to England promptly and the Combined Chiefs ordered an air attack=on the ship bringing the plant from the seaport in southern Norway across the Baltic Sea to Germany. But the plant never got that far. It had to be taken by rail to a ferryboat which would take it down Lake Tinnjo towards the Baltic seaport. Knute Haukelid, who was here with us when David Bruce received the Donovan Award, was one of the original heavy water sabotage team and had stayed behind in Norway. Singlehandedly, he entered the ferry- boat, applied plastic explosive to its hull and got off before it sailed. Halfway across, the innards of the heavy water plant and some 15000 litres of heavy water went to the bottom of the lake and it's still there. This operation may have deprived Hitler of the atom bomb with all that would have meant for our civilization. General Guerisse, who was to come here from Belgium tonight but couldn't make it because of illness, organized escape lines which ultimately brought Ralph Patten and 4500 American, British and Cana- dian airmen, shot down over Europe, back to England where they could fly again. Every airman as he set out on his bombing mission knew that if he had to parachute out and could find his way to a church, a school, a convent or a farmhouse, he would probably be sheltered until a guide from one of the escape lines called for him. These guides, many of them teenage girls would take 4 or 5 men speaking only in southern drawls, mid-western twangs or London cockney, move them by night on bicycles or trains, hide them by day in one of thousands of homes between the Rhine and the Pyrenees and, in a few weeks, deliver them to Gibraltar or Lisbon. Thousands of Frenchmen, Dutchmen and Belgians made their homes available knowing that if they were caught their whole family would be tortured and shot or sent to a concentration camp. General Guerisse, who was known in those days as Pat O'Leary, was himself pproved For Release 2006/001/03' CIA-RDP91-00901R000100250001-2 Approved For Release 2006/01/03 : CIA-RDP91-00901 R000100250001-2 captured and dragged through several concentration camps finally winding up in Dachau. Even Dachau couldn't keep Pat down and he wound up organizing the prisoners and having taken over the camp when the American forces arrived there. Jean-Pierre Roselli is here tonight to represent the Amicale Action made up of a thousand local chapters of resistance veterans all over France. France was where we were to land and I recall the flood of information that came over some 200' radio sets and in pouches full of maps and drawings and reports picked up inside France by small planes or small boats. These Frenchmen put g0 factories out of production with less plastic explosive than could be carried by a single light bomber. I be- lieve the record shows that this kind of a job, when it could be accom- plished on the ground by sabotage, was done more effectively and with less cost that it could be done from the air where the cost in planes and the lives of airmen and civilians could run very, very high. The French resistance made 950 cuts in French rail lines on June 5th, the day before D-Day, and destroyed 600 locomotives in ten weeks during June, July and August of 1944. Our greatest debt to them is for the delays of two weeks or more which they imposed on one panzer division moving north from Toulouse, two from Poland and two from the Russian front as they crossed France to reinforce the Normandy beach- head. We'll never know how many Allied soldiers owe their lives to these brave Frenchmen. When General Eisenhower failed to destroy the Germans in France, his armies found themselves moving into Germany without the behind-the-lines intelligence which the French had provided so pro- fusely. General Donovan brought in Milton Katz from Italy, Henry Hyde and his team which had worked on France from Algiers, Dick Helms from Washington, Mike Burke from the Vosges, Hans Tofte from the Danish desk, and Bill Grell from the Belgian desk. George Pratt and his Labor desk, including Lazar Teper and his small group of experts on controls and documentation within Germany, were enlisted. New com- munications, cover and air drop talent were brought in from Washing- ton. Between October 1944 and April 1945, this combination sent some 150 men, mostly Belgians, Dutchmen, Frenchmen and Poles into Ger- many with identification as foreign workers. They were sent to trans- portation centers with radio sets or new equipment which enabled them to hold a conversation with an airplane sent out for that purpose. These brave men went into Germany blind and it was remarkable that over 900/0 of them came out alive. I recall parachuting a young Belgian, Emil Van Dyke, near Munich. He and his partner got jobs in the Gestapo's motor pool in Munich, driving German officers around southern Ger- many. After our 7th Army took Munich, Van Dyke and his partner turned up and brought me to their sleeping quarters, a cubicle in the ApprovedFor Release 2006/01103-: CIA-RDP91 D0901R000100250001-2 Approved For Release 2006/01/03 : CIA-RDP91-00901 R000100250001-2 Gestapo garage in Munich. They showed me how they had sawed out a piece of the floor under the bed to create a hiding place for their radio set. When they returned from a trip they would take out the radio and send detailed messages to London on German troop units and their movements. His war over, Van Dyke had only one request. He wanted to meet the girl who handled his radio messages to London. They had gotten to exchange a few extra words every time he radioed in. He must have fallen for her over the air because every extra word sent out of that garage increased the chance that German direction finding equip- ment would close in and locate him and his radio. As it turned out, she was a corporal in the WACs, we had a fine wedding in London and they settled down in Los Angeles to raise a family. Fleming Juncker, who is with us tonight, organized the resistance on the Jutland Peninsula in western Denmark. You'll recall that in December of 1944 Hitler gambled everything he had left in the Ardennes offensive aimed at depriving the Allies of the Port of Antwerp. Twelve German divisions in Norway wei a ordered to go by ship to north Jutland and then by train to join in this last desperate German counter-attack. Three hundred Danes in Jutland, Fleming Juncker's men, supported by the whole population, undertook to bottle up this force of over 200,000 Germans in Denmark. They brought the railway system in Jutland to practically a complete breakdown and it took weeks for some of these German divisions to make a journey that normally takes 12 hours. By the time they arrived at the front the battle of the Bulge had been won. The Port of Antwerp was a great prize. When Belgium was liber- ated in September, the Belgian secret army had prevented the Germans from carrying out orders to destroy it. The war would have lasted a good deal longer if we had not been able to use those port facilities in the fall of 1944. Even then, the Germans put it under constant bombardment with V-2 rockets from sites near The Hague. The Dutch resistance, represented here tonight by Dick Groenewald, attacked trains carrying these rockets across Holland from Germany and destroyed a lot of rockets which otherwise would have exploded on Antwerp or London. All this had a heavy price. As you drive through central France near Limoges, you come to Ordour sur Glane. There, a monument to the cruelties of war, stands a small village still burned to a crisp, as the Germans left it over 30 years ago, its 250 male citizens herded into a barn to be shot, its 400 women and children herded into the church to be burned. Was it worth the life of this community to keep a single German tank division away from the Normandy beachhead for two weeks? I don't know. But I do know that whether those GIs we sent to Normandy were to be swept back into the English Channel was a very, very close thing. Appreved--For-Release 2906/01 /033 CI'A--RDP91-00901 R000100250001-2 Approved For Release 2006/01/03 : CIA-RDP91-00901 R000100250001-2 Even that's not the point. The truly important thing is that those Frenchmen and Belgians and Danes and Dutchmen and Norwegians rose to fight and wanted to fight and had to fight because they loved their country and what it meant to them. Returning to General Donovan, while he loved all this action and the courage it evoked, his real genius and greatness to me was the atten- tion he gave to the more subtle war of the mind. His organization was the only one which embraced all aspects of clandestine and intelligence activity, psychological warfare, deception and research as well as espionage, sabotage, and support of resistance. And he collected play- wrights, journalists, novelists, professors of literature, advertising and broadcasting talent to dream up scenarios to manipulate the mind of the enemy through deception and psychological warfare programs. Donovan created an outfit that was so secret it didn't have a name. We called it X-2. He put Jim Murphy, one of his closest legal associates, in charge and he integrated it with Section 5 of MI-6. the British counter-intelligence unit. They had the closest thing to a decisive clandestine impact on the war in Europe. It came not from the hun- dreds of men and the thousands of tons of weapons parachuted into Europe but from a handful of real German spies captured and turned around in England and a couple of dozen imaginary spies in an imagin- ary network carrying out imaginary operations within England. The fact is that our side operated the entire German intelligence network in England, writing their reports in London and sending them to the Ger- mans by radio or with letters to Madrid or Lisbon in secret ink or micro- dot. These fictitious reports convinced the German generals and finally Adolf Hitler himself that the Allied landings would come not in Nor- mandy but near Calais, 100 odd miles to the north. This deception program consisted of radio traffic from a huge imaginary army located on the east coast of England opposite Calais, wooden tanks and rubber boats for the cameras carried by German reconnaissance planes, as well as false reports from non-existent spy networks. It had the Germans believing the Allies had over 80 combat divisions in England on D-Day. Actually there were less than 50 of which less than 40 were combat ready. Eight of them were to land in Normandy on D-Day, 5 more on D + 1, 4 more by D + 3 and 4 more, 21 in all by D + 12. Stiff resistance could back up the arrival of these divisions which had to come in over beaches, without a port. The Germans had about 16 divi- sions sitting in Normandy, a few more in reserve around Paris and by D+2 or so had ordered 5 tank divisions from southern France, Poland and the Russian front. Yet, for seven decisive weeks. Hitler and his generals kept 19 of the best German divisions 100 miles away from our hard pressed forces on the beachhead, waiting for an army that did not exist to make an assault that was never intended. -Approved For -Release 2006/01/03: CIA-RDP91-00901 R000100250001-2 Approved For Release 2006/01/03 : CIA-RDP91-00901 R000100250001-2 The British had broken the German code used in wireless mes- sages between Hitler and his generals. General Eisenhower and his top generals were able to actually read the orders and intelligence appreciations which passed between Hitler and his generals by wire- less. Thus, it was possible for Allied strategists not only to know what kind of facts to feed the Germans but to watch them take the bait. For example, German messages showed that Von Runsted, in command in western France, believed the landings would be launched on the shortest line, across the Straits of Dover from eastern England to the Calais area, while Hitler and Rommel, commanding in Normandy, believed it would come from the south of England to Normandy. As imaginary facts were fed out to support the Von Runsted view, the intercepted messages showed Hitler wavering and hedging. The Allied comand knew the deception program had worked when Hitler refused Rommel's request for four tank divisions to back up the beaches in Nor- mady, but insisted on keeping-them under his own control around Paris so they could go either way. Then, on June 8, two days after the landing, Hitler actually ordered five infantry and two tank divisions to move 100 miles south to reinforce the Normandy beachhead. On June 9, the Germans got a long message from London reporting that three fictitious spies believed the Normandy invasion was diversionary and intended to cause the Germans to throw in their reserves so that the massive forces in east England could land in the Calais area. The Germans swallowed this bait immediately. The next day, June 10, the orders sending the seven divisions to Normandy were countermanded and all divisions in north- ern France and Belgium were put on alert. One has to shudder to think of what could have happened if that force had been thrown into Nor- mandy a few days after the landings. The deception was so good that when the Normandy invasion' plans were stolen by the Germans from the British Ambassador in Turkey and General Eisenhower had to consider changing the whole invasion plan, the decision was to intensify the signals that the invasion would be at Calais and make the Germans think that the plans for Nor- mandy stolen in Turkey had been deliberately leaked to cover up the real landings on the Calais coast. Later on, on the continent, Hubert Will and other X-2 officers used half a dozen German agents captured in France to feed German headquarters with tactical deception on the plans and movements of General Bradley's forces. Three of these agents were so convincing that the Germans awarded them the Iron Cross. So you see, intelligence is a very uncertain, fragile and complex commodity: First, you have to get a report. Then you have to decide whether it's real or fake. -Approved-For- Reteag2-7G06/10 Ii03":-'CIA-RUP91=Q0901 R0W100250001-2 Approved For Release 2006/01/03 : CIA-RDP91-00901 R0001 00250001-2 Then, whether it's true or false as you find out what other intelli- gence supports or contradicts it. Then, you fit it into a broad mosaic. Then, you figure out what it all means. Then, you have to get the attention of someone who can make a decision, and. Then you have to get him to act. Because General Donovan understood all this, he scoured our campuses and mobilized thousands of the finest scholars in America to put together, assess and evaluate, and then analyze the intelligence that came in from all sources. This unprecedented collection of scholars gave Donovan enormous influence. For example, in 1944 there was a fierce struggle between the RAF and the U.S. Air Forces over bombing strategy. Donovan was able to produce a team of outstanding econom- ists: Ed Mason, Walt Rostow, Charlie Hitch, Charlie Kindleberger, Chan Morse, Emile Despres to dissect the German economy and make the case that, by concentrating on oil depots and transportation lines, Allied air power could most effectively prepare the way for the invading armies. Donovan's grasp of this elusive, multiple and yet crucial nature of intelligence led to the CIA, over which Bill Colby presides so grace- fully, becoming not merely a spy outfit but one of the world's great cen- ters of learning and scholarship and having more PhDs and advanced scientific degrees than you're likely to find anywhere else. Well, we've gone around the room and fought Donovan's war in Europe all over again. I haven't touched the men and ideas Donovan unleashed in Yugoslavia where John Blatnik spent many months organiz- ing resistance forces in Slovenia, or Thailand to which Nick Deak has referred, or Italy where Milton Katz and Mim Doddario were leaders, or Greece where Jim Kellis and Chris Fragos performed nobly, or China and Burma where General Peers- distinguished himself or Indo-China, or North Africa. I have neither the time nor the knowledge to do so. It only remains for me to again thank, from the bottom of my heart, the Veterans of the Office of Strategic Services and all of you here tonight for your generosity. Approved ~6rRate-asu 2006101103--CIA--RDP9t 00901-R0001-002500014- - Approved For Release 2006/01/03 : CIA-RDP91-00901 R000100250001-2 cJ/d a _AAoacza #ccz/ THE HONORABLE ALLEN W. DULLES THE HONORABLE JOHN J. McCLOY LIEUTENANT GENERAL WILLIAM W. QUINN GENERAL OF THE ARMY DWIGHT D. EISENHOWER THE EARL MOUNTBATTEN OF BURMA THE HONORABLE EVERETT MCKINLEY DIRKSEN J. RUSSELL FORGAN THE ASTRONAUTS OF APOLLO 11 THE HONORABLE DAVID K. E. BRUCE WILLIAM J. CASEY The Veterans of the Office of Strategic Services will award the William J. Donovan medal to an individual who has rendered distinguished service in the interests of the United States and the cause of freedom anywhere. The purpose of this award is to foster a tradition and spirit of the kind of service to country and the cause of freedom which William J. Donovan ren- dered in both his private and public capacities. He was the exemplar of the citizen-soldier-diplomat who valiantly served his country and the cause of free- dom throughout the world. This award, as a perpetual parallel, will be made to an individual who, in his activities, exemplifies the spirit, the tradition and the distinguishing features which characterized General Donovan's career. These include a continuing concern for the world's security and safety, for the role which the United States must play in the world, and for the rights, freedoms and welfare of individuals in our society. Perhaps the most unique feature of General Donovan's life was the continuing expression of these concerns in his private life and activities as well as in public service. Specifically, in General Donovan's career these features were expressed, as one of America's leading citizen-soldiers, as, ambassador, as intelligence chief, as assistant Attorney General, as lawyer in the courtroom and in the office, as pri- vate traveler seeing what he could learn for the benefit of his country. The recipient of the Donovan medal will be an individual who has, in his own career, outstandingly exemplified these features of Donovan's career. He will be selected by a committee appointed by the President of the Veterans of the O.S.S. The award will take the form of a medal, carrying a likeness of General Donovan. Approved For Release 2006/01/03: CIA-RDP91-00901R0001.002500Il12 screen i of 2 Approved For Release 2006/01/03 : CIA-RDP91-00901 R000100250001-2 1 Casey, Nilliam J. Accounting desk book : the accountant's everyday 'i-stant answer book / Englewood Cliffs, N.J. : 1979 r)LC 2 Casey, William J. Accounting desk book : the account,ant's everyday i. rlstant answer hook. Englewood Cliffs, N.J. : 1983 DEC 3 Casey, NVilliam J. Address to Agency employees / [Washington 1981 [Manuscript] 4 Casey, William J. Corporate planning Englewood Cliffs, N.J. : 1979 D Casey, NVil.liam J. Estate planning / Englewood Cliffs, N.J. : 1979 DEC 6 Casey, Ailliam J. How to raise money to make money / Englewood Cliffs, 4.J. : 1981 DLC 7 Casey, Nilliam J. Lawyer's desk book / Englewood Cliffs, N.J. : 19 78 DEC 8 Casey, lilliam J. Real estate desk book : with tax law revisions : the 1`ax reform act of 1976, fax reduction and simplification act of 1917 / 1=nglewooi Cliffs, N. J. : 1978 DLC screen 2 of 2 9 Casey, Vgilliam J. Real estate investment planning / Englewood Cliffs, It .~. J. : 1979 DLC 10 Casey, r'Villiam J Real estate investment tables / Englewood Cliffs. N. J. : 1979 11 Casey, filliam J. Real estate investment tables / Englewood Cliffs, 14.J. : 1981 12 Casey, Nilliam J Real estate investment tables / Englewood Cliffs. N. J. : 1981 13 Casey, Gilliam J. Tax-sheltered investments / Englewood Cliffs, N.J. Approved For Release 2006/01/03 : CIA-RDP91-00901 R000100250001-2 Approved or eiease AI /0'IN3-IEii --Ra91-00901 R000100250001-2 Estate Planning 1979 `Real Estate Investment Tables 1977 6th ed. 'Regulation of Securities Ideas 197- 'Estate Planning Desk Book 1977 'Accounting Desk Book the Accountant's Everyday Instant Answer Book 1974 4th ed. 'Closely-Held Corporations 1974 'Lawyer's Desk Book; the Lawyer's Everyday Instant Answer Book. 1975 4th ed. `Lawyer's Desk Book 1978 "Real Estate Desk Book 1978 'Successful Techniques that Multiply Profits and Personal Payoff in the Closely Held Corporation. 1977 'Accounting Desk Book; the Accountant's Everyday Instant Answer Book 1970 2d ed. Accounting Desk Book; the Accountant's Everyday Instant Answer Book 1972 3d ed. 'Corporate Planning 1965- A-Encyclopedia of Mutual Fund Invest- ment Planning for Security and Porfit 1969- 'Estate Planning 1965- 'Estate Planning Ideas 1968- \Forms of Business Agreements and Resolutions; Annotated, Tax Tested 1962- `Hidden Gold and Pitfalls in the New Tax Law; New Opportunities and Techniques for Increasing. Personal and Company Wealth in the 1970's. An IBP Special report by William J. Casey and the Board of editors and research staff of the Institute for Business Planning, inc. 1970 Approved For Release 2006/01/03 : CIA-RDP91.-00901 R000100250001-2 Approved For Release 2006/01/03 : CIA-RDP91-00901 R000100250001-2 Tax planning (formerly: Tax control) 1965 Tax planning ideas 1970- Tax practice kit; a completely worked out system for managing taxes 1971 .Tax tested forms of agreements, resolutions and plans 1962 Approved For Release 2006/01/03 : CIA-RDP91-00901 R000100250001-2 Approved For Release 2006/01/03 : CIA-RDP91-00901 R000100250001-2 Tax practice and procedure 1973 'Tax practice and procedure; a completely worked out system for managing.taxes by William J. Casey and the IBP research and editorial staff ",Tax practice ideas 1 Where and how the war was fought: an armchair tour of the American Revolution Life insurance desk book Life insurance planning. Mutual fund investment planning Mutual funds desk book Pay planning forms, annotated, tax tested Realestate desk book Real-estate desk book Real estate investment planning Real estate investment ideas Real estate investment tables Real estate investment tables Real estate investments and how to make them Real estate investments and how to make them Real estate investments and how to make them 1976 19.65 1g65- 1969- 1968, 1969 1966 1969, 1966 1971 1971- 1970- 1966 1971 1968. 1971 1972 2d ed. Successful compensation techniques that build executive fortunes; a complete working kit for setting up today's most profitable executive pay plans 1967,1968- Successful techniques that multiply profits and personal payoff in the closely-held corporation; a complete working kit . 1970 Approved For Release 2006/01/03 : CIA-RDP91-00901 R000100250001-2 Approved For Release 2006/01/03 : CIA-RDP91-00901 R000100250001-2 'Corporate. planning 1965 Estate planner's practice and procedure guide; a completely worked-out system for formulating an estate plan from start to finish Estate planning,desk book \Executor's and trustee's guide 1973 Forms of business agreements with tax ideas, annotated/by William J. Casey 1974 \How to raise money to make money t 1973 'Life insurance desk book 1974 3d ed. \Life insurance ideas \Master index cross reference table to the IBP business and financial planning library n.d. 1972 Pay planning 1971- t Pay planning ideas \ Real estate desk book n.d. 1974 4th ed., rev. by Real estate investment deals, ideas, forms 1970- IBP Research & Editorial Staff "Real estate investment tables Real estate investments and how to make them. 1973 4th ed. rev. by Successful techniques that multiply profits and personal payoff in the close-held corporation 1975 the IBP research & editorial staff \Tax control 1964 \ Tax planning 1973- \Tax planning tables 1957 Approved For Release 2006/01/03 : CIA-RDP91-00901 R000100250001-2 Approved For Release 2006/01/03 CIA-RDP91-00901 R000100250001-2 "Real estate investment deals, ideas, forms. 1959- 'Real estate investment tables 1961 \Real estate investments and how to make them 1958 Tax control 1957- "Tax planning for foundations and charitable giving 1953 'Tax saver 1959 Tax shelter for the family 1953 \Tax shelter for the family 1956 1955 Rev ed. \ Tax shelter in accounting 1957 \Tax shelter in business 1953 \Tax shelter in real estate 1957 .\Tax shelter in real estate 1959 2d ed. '-Tax sheltered investments 1951 NTax sheltered investments, revised and expanded 1955 ",Tax tested forms of agreements, resolutions and plans: annotated 1956 \ Tax tested real estate forms 1959 N Trust manual and guide 1961- What you can do not to cut taxes and save cash this year; recommendations, check- lists, worksheets... What you can do not to cut taxes and save cash this year, recommendations checklists - worksheets... 19.59 " Where and how to find real estate deals 19.60 19.60-19.6.1 ed. Accounting desk book: the accountant's everyday instant answer book/ adapted from the first four editions by William J. Casey and the IBP research and editorial staff 1977 completely rey, 5th ed. Approved For Release 2006/01/03 : CIA-RDP91--00901 R000100250001-2 Approved For Release 2006/01/03 : CIA-RDP91-00901 R000100250001-2 How Federal Tax Angles Multiply Real Estate Profits .How to Buy and Sell Land 1968 1967 'Flow to Raise Money to Make Money: The Executives Master Guide to Financing a Business 1970 new ed. `How to use Tax-Free and Tax- Sheltered Investments to Pyramid Your Captial; the. IBP encyclopedia of Taxwise Profit-Making Investments The IBP Business Forms Guide by William J. Casey and the IBP Research and Editorial Staff -..Lawyer's Desk Book 1968- 1970 1967 '.Lawyer's Desk Book: the Lawyer's Everyday Instant Answer Book 1971 2d ed. \ Lawyer's Desk Book: the Lawyer's Everyday Instant Answer Book 1972 3d ed. How to set up tax free insurance plans for partners and sole owners How.to use life insurance.in business 1959 % Lawyer's tax guide 1959 ' Life insurance and how to use it 1959 Life insurance plans 1956- 'Mutual funds and how to use them 1958 "'Mutual funds and how to use them 1959 "New estate planning ideas 1958 % New estate planning ideas 1960 1954 pay almanac, by William J. Casey, J.K. Lasser and Walter Lord 1954 100 new ideas to increase your income and reduce your taxes .Pay plans. `Real estate desk book 1959 1960- 1961 Approved For Release 2006/01/03 : CIA-RDP91=00901 R000100250001-2 Approved For Release 2006/01/03 : CIA-RDP91-00901 R000100250001-2 WILLIAM J. CASEY - SELECTIVE BIBLIOGRAPHY Executive Pay Plans, New York, 1951 How To Handle Renegotiation, Roslyn, New York, 1952 Tax Sheltered Investments, Washington, 1952 Pay Contracts With Key Men; 188 Company Pay Plans, Agreements,-Clauses, Roslyn, New York 195. Tax Planning For Foundations and Charitable Giving, Roslyn, New York, 1953 Tax Shelter For the Family, New York, 1953 Tax Shelter In Business, Roslyn, New York, 1953 How To Use Life Insurance in Business, New York 1959 Pow To Run A. Pension Or Profit Sharing Plan, New York, 1960 NhereAnd How To Find Real Estate Deals, New York, 1960 Tax Saver, New York, 1961 Mow To Buy And Sell Land, New York, 1962 How To Raise The Abney You Need To Start, Run or Expand a Business, New York, 1962 341tual Lands and How to Use Then, I1ci Yor; , 3.962 Trust Manual and Guide, New York, 1961 Forms of Wills, Trusts, and Family Agreements, with Tax Ideas, New York, 1963 Health Insurance Desk Book, New York, 1963 Tax. Control, New York 1964 Tax Planning D esk Book,. New York, 1964 Tax Shelter in Real Estate, New York, 1964 IJa To Build. and Preserve Executive Wealth; the Truth About Probate and Family Financial Planning, New York, 1967 Successful Compensation Techniques That Build Executive Fortunes, New York, 1967 The Truth About Probate and Family Financial Planning, New York, 1967 flow F ederal Tax Angles Multiply Real Estate Profits, New York, 1968 How To Use Tax-Free and Tax-Sheltered Investments to Pyramid Your Capital; The IBP Encyclopedia of Taxwise Profitmaking, New York 1968 Okitual Funds Desk Book, New York, 1968 Encyclopedia of Actual Fund Investment Planning for Security and Profit, New York, 1969 Hidden Gold and Pitfalls in the New Tax Law, New York, 1970 The IBP Business Forms Guide, New York, 1970 Pay Planning, New York, 1971 Real Estate Desk Book, New York, 1971 Real Estate Investment Ideas, New York, 1971 Tax Practice Kit; A Completely Worked Out System for Managing Taxes, New York, 1971 Estate Planning Desk Book, New York, 1972 Real Estate Investments and How To Make Them, New York, 1972 Corporate P1annAplxrpv , 1O Je4$qp006/01/03 : CIA-RDP91-00901R000100250001-2 Approved For Release 2006/01/03 : CIA-RDP91-00901 R000100250001-2 Energy; Cooperative World Action to Solve Shortages, Washington, 1973 Estate Planner's Practice and Procedure Guide, New York, 1973 Estate Planning, New York, 1973 Executor's and Trustee's Guide, New York, 1973 Forms of Business Agreements and Resolutions, New York, 1973 Tax Planning, New York, 1973 Tax Practice and Procedure, New York, 1973 Tx-Sheltered Investments, New York, 1973 Life Insurance Desk Book, New York, 1974 P?tutual Fund Investment Ideas, New York, 1974 R eal Estate Investments and Haw to Make Them, New York, 1974 Accounting Desk Book; The Accountant's Everyday Instant Answer Book, Englewood Cliffs, New Jersey, 1975 Estate Planning Desk Book, New Jersey, 1975 Lavyer's Des];, Book; the Lawyer's Everyday Instant Answer Book, New Jersey, 1975 Peal Estate Investment Planning, New Jersey, 1975 Real Estate Investment Tables, New York, 1975 Successful Techniques that Multiply Profits and Personal Payoff in the Closely Held Corporation, New Jersey, 1975 Life Insurance Desk Book, New Jersey, 1976 Where and Haw the War Was Fought; An Armchair Tour of the American Revolution, New York 1976 Clow To R aise Abney To Make Money, Englevood Cliffs, New Jersey, 1980 Approved For Release 2006/01/03 : CIA-RDP91-00901 R000100250001-2 Approved For Release 2006/01/03 : CIA-RDP91-00901 R000100250001-2 Approved For Release 2006/01/03 : CIA-RDP91-00901 R000100250001-2 A} proved Ft = Release 2006101103: ClA-RDP91-0090`lR000100250001-2 William Casey's first 200 days 40 s seen in the 4 kto ei* I9 issue o Institutional investor Approved For Release 2006101/03 C1A-RDP91-00901R000100250001-2 Approved For Release 2006/01/03 : CIA-RDP91-00901 R000100250001-2 William Casey's first 200 days by Myron Kandel With the burst of contro- versy that surrounded William Casey's nomination as chair- man of the SEC, the beginning could hardly have been less auspicious. Yet now, as he rounds out his first 200 days in office this month, Casey is be- ing hailed for his leadership and his grasp of the issues, and from all signs he could turn out to be one of the strong- est chairmen the SEC has ever had. In this month's cover story, Myron ]Kandel profiles Bill Casey and examines what it is about the Man and the way he approaches his task that caused this apparently drama- tic turnabout. Kandel, who is Editor of The Wall Street Let- ter, an Institutional Investor publication, provides a fascina- ting picture of a man who long dwelt quietly :in the halls of power but now will play a lead- ing role in what happens to the investment business at this critical moment in its history. 19 anging in the office of the chairman of the Securities and Exchange Commission is a photograph of seventeen solemn-faced men sitting around a large conference table. At first glance, it appears undistinguished, without even the florid signatures that so often decorate Wash- ington-office photographs. But closer examina- tion finds the setting to be the Cabinet Room of the White House and the men in the group to in- clude Richard Nixon, William, Rogers, Henry Kissinger, Dean Rusk, Douglas Dillon, John Mc- Cloy, William Scranton, I.W. Abel, Lauris Nor- stad and other members of the nation's private and governmental power structure. At the President's right hand in this august group sits a round-faced man, bespectacled and Approved He tells how Casey's long and intimate ties with the Presi- dent should stand him, and the industry he is charged with regulating, in good stead during the difficult period ahead. And he describes what has been done so far - and what is likely to be done - by the man Ted Kennedy de- scribed as the most outrageous appointment since his own father, Joseph Kennedy, headed the commission in its early days. rather pleasant-looking, with sparse gray hair and slightly stooped shoulders, who looks su- premely at ease in the presence of the mighty. He is William Joseph. Casey, New York lawyer, publisher, editor, venture capitalist, wartime intelligence officer and sometime politician, who soon was to become chairman of the SEC - and the man on whom a battered securities industry would come to depend to lead it out of the wilder- ness of conflicting interests, weakened market structure and sagging investor confidence. The seating arrangement in the picture, which depicted a meeting of the General Ad- visory Committee on Arms Control and Disarma- ment, might have been accidental. But Casey's presence in such an important group decidedly Approved For Release 2006/01/03 : CIA-RDP91-00901 R000100250001-2 was not. Over the last quarter-century he has worked quietly and effectively behind the scenes in. a surprising; variety of government, business and political projects that, while they may not, have exposed him to much public notice, brought him into close contact with men in power., en- abled him to amass a personal fortune and -. most significantly at this point for the future of the securities business - won him the personal trust of the President of the United States. Last January, after months of searching for a successor to Hamer Budge as SEC chairman, and with the industry in what might delicately be described as disarray, Mr. Nixon turned to his old political friend Bill Casey. An assortment of aspirants had been put forward by various in- dustry or party interests, but none of those inter- ested had been found suitable. Casey was sounded out, and the President invited him to the White Hou..,e and asked him personally to take the job, stressing the importance of a sound capital market to the nation's economy. Casey, who is noted[ for making quick decisions, accepted on the spot. "I'm a team player," he ex- plains. "Besides, I saw a great turning point for the industry." Off and running In. nearly 200 days in office, Casey has engen- dered surprisingly widespread admiration - more for his approach to the, job than for any con- crete achievements - from both hard-nosed in- dustry leaders and cynical commission staffers. He has, as we shall see, taken some encouraging first steps and, indeed, shows signs of becoming one of the most effective chairmen in the agency's 37-year history. Most Wall Streeters who have trekked to Washhngton to meet with Casey (he maintains an open-door policy and will listen politely to virtually anyone who wants to see him) have come away impressed by his quick intelligence, his no-nonsense directness and his understand- ing of how most of the complex issues facing the industry are intimately interrelated. To many of them, however,Approveld`i-or'I elea a a uu iu1/03 Casey as an investor The natureof Willi M Casey's investments be- came a matter of widespread r ubllc interest during the controversy over his confirmation. What are they and how has he done? In a letter to the Senate Banking Committee Casey noted `that his securities portfolio-had been managed for the last eleven years by a professional investment adviser` with full discre- tionary powers, He said he owned a #o#al of 65 securities, seventeen of Which resulted from his venture capital activities. Over tfe last quarter- century, Casey added, h?tparticipated "actively in varying degrees" in5 ventures. This activity was not:haphaard, rather it focused on the fields of inform anon and'co tm +nieations and on tech- nologioal and financial innovation, Ail of them texc t one ventur'e:ha made into scientific far - 77, in iti which hs ingested $70,OGcl) are viable busi- nesses today Had I limited my investments over this ,span of time to being a stc ckholder in large, estab- lished corporations, this activity`t ould not have involve f me in any` litigation,' he said, referring to the oases that aroused headlines during the- hearings," "and 1-m ywash have profited more, but t would not have had the interest, satisfaction or experience that comes from investment and active participation in new enterprises concerned with development and change in bur society. Casey also said he hadfour rules in making venture capital investments: it Confine your investment to a minority position and your activity to the role of director. it Put up as much money as anyone else. sit Never invest more than you can afford to lose. it Stand ready to play a leading role in refinancing or reorganizing a venture which runs into difficulties when you need to protect your stake and when you still believe the technology has merit. it not yet in, and they are waiting to see how he deals with such fundamental problems of the business as fixed vs. nelrotiated commissions, the separation of money management and bro- kerage, institutional access, pressures for and against a strong central marketplace, and the antitrust specter that has long hovered over the exchange community. Powerful industry and political interests are arrayed on both sides of all these issues. (For a sampling of Casey's views on these and other key matters confronting the industry, see page 30.) That picture on Casey s wall, then, provides a good many clues about the man who was plucked from supposed obscurity to head the SEC during this critical period. It suggests that : H- Lii1 6bg F bb6b466LJ T e, when he Casey as a Republican candidate (19613) and at a reunion of OSS veterans in Paris (below). wants it, unlike others who have held the post in the past -- a point that could become particular- ly important when and if new securities legisla- tion is drafted. More subtle, but perhaps more significant, is the fact that that line to the White blouse might not have to be used - either way. "I can tell you," confides a man in close touch with both the SEC and the Administration, "that the President has complete confidence-in Casey and wants him to call the shots as he sees them." The picture indicates, too, that Casey -- ob- scure lawyer though he originally was thought to be - is far from a neophyte in dealing with the political pressures and bureaucratic inertia that often overwhelm even the most energetic Wash'.ington newcomer. Although Casey seldom shared the spotlight, he has long worked inti- iaately with men who made the headlines. His former bosses and associates, in addition to ,-resident Nixon (the relationship started with the 1960 campaign), include: William J. Donovan, who ran the Office of Strategic Services during World War II; David Bruce, another former OSS official who became one of the nation's top dip- lomat:s; Averell Harriman, while he was running the Marshall Plan; Allen Dulles, one-time direc- tor of the Central Intelligence Agency; Leonard I[all, Republican National Chairman and head of Eisenhower's 1956 campaign; John McCloy, Former U.S. High Commissioner for Germany and ex-chairman of the Chase Manhattan Bank, who headed the arms control advisory commit- When Casey ran int, Congressional flak on his nomination, people of such lofty stature came to his support. And the massive record of his con- firmation hearings -- totaling 1,176 pages in two volumes -- contains dozens of letters and tele- grams from friends, ssociates and clients attest- ing to his character a- ad ability (as well as others from strangers wiio were bitterly critical as a result of press reports of the lawsuits in which he had been involved i. Considering the t:i,ct that his nomination was enveloped in so mush controversy and that so much of Wall Street seemed disposed to resent him from the start, r fie favorable impact Casey has made so rapidly is all the more remarkable. At this point industry insiders can't recall any- one who has gained such rapid acceptance, par- ticularly after such a in inauspicious arrival. De- scriptions of him seerua almost repetitious in their praise; he is alternately called "an action guy," "a quick study," "aa, tough, no-nonsense fellow," someone who sees the big picture" and "the best thing to happen to th, ' industry.- Some skeptics. however, even though they may echo some of these phrases. suggest that thus far Casey has strown more style than sub- stance. The commision's early actions under his direction, they c, Fntend, have dealt with i,s-? sues such as greater disclosure, more readable prospectuses, clarify! ng letter stock regulations., immobilizing the stc,,:k certificate, studying off- shore funds and strengthening brokerage house capital resources --- all of' which, like mother- hood, are important but relatively noncontro- versial. Meanwhile, the more cosmic matters that will shake and shape the industry remain to be tackled. "Has he been play: ng for the headlines?" asks a former SEC staffer who is now a top securities lawyer. "I don't see evidence of much getting done beyond the hoold.a. I'm wondering whether he'll turn out to be a t% pical Republican business- man-chairman who relieves in a minimum of regulation and a max mum of enforcement. And this would be a disaster right now. The financial community needs strong leadership from outside the industry. Casey r:ould fill the bill, but it's much too early to tell vet whether he will." "We moved fast osa the things that were pret- ty obvious," Casey r,::sponds, "but we have to proceed cautiously on longer-term matters." He toe, and a host of others. feels a particular serape of urgency right now in Approved For Release 2006/01/03 : CIA-RDP91-00901 R000100250001-2 Approved For Release 2006/01/03 : CIA-RDP91-00901 R000100250001-2 the area of market structure, including institu- tional access and the role of regional exchanges, where he believes "far-reaching implications are getting resolved by accident, litigation and in- action." Translating this concern into concrete action, he has scheduled a public "investigatory" hear- ing starting this month to examine a wide range of industry questions, including a national sys- tem of securities exchanges, institutional mem- bership, nonmember access, standard regula- tion for various markets, the possibility of a "uni- versal" ta=pe and competition among exchanges and between exchanges and other markets. By temperament and training, Bill Casey is the kind of man who can say abruptly: "I don't want to sit around talking about these things.: I'm short on patience." At the same time, though, he expresses concern about the risk of making far-reaching decisions without having collected all the facts. "We have to evaluate the total con- text and the long-term effect," he says, "and I'm inclined to go slowly." In point of fact, however, what appears slowness to some might look like great speed to others. (His nickname as a boy was "Cyclone.") Some kind of whirlwind may be needed to deal with all the problems that now face the com- mission. A recent visitor to Casey's office found him working at a huge, impressively cluttered, glass-topped walnut desk (SEC No. 14419) that had been used by his predecessor and other com- missioners before him. Filling the far left side of the desk was a long file of legal-size, well-stuffed yellow folders, which silently told the story of the massive issues which confront him. Among subject headings: Accounting Matters Back Office and Certificate Problems Chicago Board of Trade Option Exchange Commission Rate Proposals Fund Portfolio Brokerage Gun-Jumping Institutional Study Material Lockheed Martin Report Net Capital October Hearings Segregation of Securities SIPC Task Force Study of Unsafe and Unsound Practices After the Congressional furor over his nomination (Casey testifying, left), the new SEC chairman has joined the Administration's power structure (with Fed Chairman Burns and Trea- sury Secretary Connally, below). One of the first thing,,; Casey has done is to start developing a strong personal staff. To get the commission functioiing more efficiently from a management standpoint, he created the post of executive director and filled it with A. Jones Yorke III, formerly a vice president at Donaldson, Lufkin & Jenrette. He also reached into four of Wall Street's best-known law firms to pick his executive assiss,ant (Charles Whitman III of Davis Polk & Wardwell) and three special counsels (John Liftin of Sullivan & Cromwell, Leon Picard of Mudge, ltu,se, Guthrie & Alexan- der and Howard Kristol if Cravath, Swaine & Moore). The last three posts, restoring to the Chairman's office some of the legal manpower it had had under Manuel C ohen, are designed to provide in-depth research and policy work for Casey and to help coordinate matters that cut across staff divisional lines. In general, Casey seems to be gently molding the commission more alo:ig the lines of a mod- ern corporation, including giving the four other commissioners more sharply defined executive responsibilities in specific areas of the agency's operations. His support of the appointment of general counsel Philip Loomis as a commissioner was heartening to the staff, and it also gave the e~nd experi Testimony Before M`I I~fd~ d' tror Release 2006/01/03 64 o btu @~bl Approved For Release 2006/01/03 CIA-RDP91-00901 R000100250001-2
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