Edwin J. Gray

Gray was born in 1933 or 1934. ==Early career==

Gray was, for many years, a political aide to Ronald Reagan. He thereafter worked for Reagan during his governorship, before leaving to work as a savings and loan executive. On January 16, 1981, President-elect Reagan named Gray to serve in his administration as "deputy assistant to the president for policy development". By the end of his tenure in the White House, he was serving as director of the White House Office of Policy Information. While working in the Reagan White House, he helped to convinced the Reagan administration to support the Depository Institutions Act of 1982. ==Federal Home Loan Bank Board==

In February 1983, Reagan nominated Gray to serve as a member of the Federal Home Loan Bank Board, both for a partial term expiring June 30, 1983 and a full term after that, expiring June 30, 1987. He was confirmed by the United States Senate by unanimous consent on March 23, 1983. In 1984, Gray became chair of the Federal Home Loan Bank Board. He was the twentieth individual to hold this position. He had been originally perceived as a friend to the savings and loans industry, which had pushed for him to be placed in that position. Beginning in 1985, he feared that the savings industry's risky investment practices were exposing the government's insurance funds to huge losses. Gray instituted a rule whereby savings associations could hold no more than ten percent of their assets in "direct investments", As chairman, the strict regulations he put in place made him controversial. In 1985, Donald Regan, by then White House Chief of Staff made an effort to push Gray out of the job. Gray butted heads with Charles Keating, the chairman of Lincoln Savings and Loan Association, who tried to get Gray to quit the board by offering him a position at the bank. Gray's tenure ended in mid-1987. ==Later career==

Gray worked at Chase Federal Bank. He departed in the fall of 1993. In 1988, when Speaker of the U.S. House of Representatives Jim Wright was under investigation by the House Ethics Committee, Gray provided the Wall Street Journal with information about Wright's attempts to interfere with investigations that the Federal Home Loan Bank Board had been undertaking during Gray's tenure as its chairman. These news stories helped to solidify end of Wright's political career. ==References==