Dodd–Frank Wall Street Reform and Consumer Protection Act
The Dodd–Frank Wall Street Reform and Consumer Protection Act is a United States federal law, enacted on July 21, 2010. The law overhauled financial regulation in the aftermath of the financial crisis of 2007–2008, it made changes affecting all federal financial regulatory agencies and every part of the nation's financial services industry. Responding to widespread calls for changes to the financial regulatory system, in June 2009 President Barack Obama introduced a proposal for a "sweeping overhaul of the United States financial regulatory system, a transformation on a scale not seen since the reforms that followed the Great Depression". Legislation based on his proposal was introduced in the United States House of Representatives by Congressman Barney Frank, in the United States Senate by Senator Chris Dodd. Most congressional support for Dodd-Frank came from members of the Democratic Party, but three Senate Republicans voted for the bill, allowing it to overcome the Senate filibuster. Dodd-Frank reorganized the financial regulatory system, eliminating the Office of Thrift Supervision, assigning new responsibilities to existing agencies like the Federal Deposit Insurance Corporation, creating new agencies like the Consumer Financial Protection Bureau.
The CFPB was charged with protecting consumers against abuses related to credit cards and other financial products. The act created the Financial Stability Oversight Council and the Office of Financial Research to identify threats to the financial stability of the United States, gave the Federal Reserve new powers to regulate systemically important institutions. To handle the liquidation of large companies, the act created the Orderly Liquidation Authority. One provision, the Volcker Rule, restricts banks from making certain kinds of speculative investments; the act repealed the exemption from regulation for security-based swaps, requiring credit-default swaps and other transactions to be cleared through either exchanges or clearinghouses. Other provisions affect issues such as corporate governance, 1256 Contracts, credit rating agencies. Dodd-Frank is regarded as one of the most significant laws enacted during the presidency of Barack Obama. Studies have found the Dodd–Frank Act has improved financial stability and consumer protection, although there has been debate regarding its economic effects.
In 2017, Federal Reserve Chairwoman Janet Yellen stated that "the balance of research suggests that the core reforms we have put in place have boosted resilience without unduly limiting credit availability or economic growth." Some critics have argued that the law had a negative impact on economic growth and small banks, or failed to provide adequate regulation to the financial industry. Many Republicans have called for the total repeal of the law; the financial crisis of 2007–10 led to widespread calls for changes in the regulatory system. In June 2009, President Obama introduced a proposal for a "sweeping overhaul of the United States financial regulatory system, a transformation on a scale not seen since the reforms that followed the Great Depression"; as the finalized bill emerged from conference, President Obama said that it included 90 percent of the reforms he had proposed. Major components of Obama's original proposal, listed by the order in which they appear in the "A New Foundation" outline, include The consolidation of regulatory agencies, elimination of the national thrift charter, new oversight council to evaluate systemic risk Comprehensive regulation of financial markets, including increased transparency of derivatives Consumer protection reforms including a new consumer protection agency and uniform standards for "plain vanilla" products as well as strengthened investor protection Tools for financial crisis, including a "resolution regime" complementing the existing Federal Deposit Insurance Corporation authority to allow for orderly winding down of bankrupt firms, including a proposal that the Federal Reserve receive authorization from the Treasury for extensions of credit in "unusual or exigent circumstances" Various measures aimed at increasing international standards and cooperation including proposals related to improved accounting and tightened regulation of credit rating agenciesAt President Obama's request, Congress added the Volcker Rule to this proposal in January 2010.
The bills that came after Obama's proposal were consistent with the proposal, but contained some additional provisions and differences in implementation. The Volcker Rule was not included in Obama's initial June 2009 proposal, but Obama proposed the rule in January 2010, after the House bill had passed; the rule, which prohibits depository banks from proprietary trading, was passed only in the Senate bill, the conference committee enacted the rule in a weakened form, Section 619 of the bill, that allowed banks to invest up to 3 percent of their tier 1 capital in private equity and hedge funds as well as trade for hedging purposes. On December 2, 2009, revised versions of the bill were introduced in the House of Representatives by then–financial services committee chairman Barney Frank, in the Senate Banking Committee by former chairman Chris Dodd; the initial version of the bill passed the House along party lines in December by a vote of 223 to 202, passed the Senate with amendments in May 2010 with a vote of 59 to 39 again along party lines.
The bill moved to conference committee, where the Senate bill was used as the base text although a few House provisions were included in the bill's base text. The final bill p
Yale University is a private Ivy League research university in New Haven, Connecticut. Founded in 1701, it is the third-oldest institution of higher education in the United States and one of the nine Colonial Colleges chartered before the American Revolution. Chartered by Connecticut Colony, the "Collegiate School" was established by clergy to educate Congregational ministers, it moved to New Haven in 1716 and shortly after was renamed Yale College in recognition of a gift from British East India Company governor Elihu Yale. Restricted to theology and sacred languages, the curriculum began to incorporate humanities and sciences by the time of the American Revolution. In the 19th century, the college expanded into graduate and professional instruction, awarding the first Ph. D. in the United States in 1861 and organizing as a university in 1887. Its faculty and student populations grew after 1890 with rapid expansion of the physical campus and scientific research. Yale is organized into fourteen constituent schools: the original undergraduate college, the Yale Graduate School of Arts and Sciences and twelve professional schools.
While the university is governed by the Yale Corporation, each school's faculty oversees its curriculum and degree programs. In addition to a central campus in downtown New Haven, the university owns athletic facilities in western New Haven, a campus in West Haven and forest and nature preserves throughout New England; the university's assets include an endowment valued at $29.4 billion as of October 2018, the second largest endowment of any educational institution in the world. The Yale University Library, serving all constituent schools, holds more than 15 million volumes and is the third-largest academic library in the United States. Yale College undergraduates follow a liberal arts curriculum with departmental majors and are organized into a social system of residential colleges. All members of the Faculty of Arts and Sciences—and some members of other faculties—teach undergraduate courses, more than 2,000 of which are offered annually. Students compete intercollegiately as the Yale Bulldogs in the NCAA Division I – Ivy League.
As of October 2018, 61 Nobel laureates, 5 Fields Medalists and 3 Turing award winners have been affiliated with Yale University. In addition, Yale has graduated many notable alumni, including five U. S. Presidents, 19 U. S. Supreme Court Justices, 31 living billionaires and many heads of state. Hundreds of members of Congress and many U. S. diplomats, 78 MacArthur Fellows, 247 Rhodes Scholars and 119 Marshall Scholars have been affiliated with the university. Its wealth and influence have led to Yale being reported as amoungst the most prestigious universities in the United States. Yale traces its beginnings to "An Act for Liberty to Erect a Collegiate School", passed by the General Court of the Colony of Connecticut on October 9, 1701, while meeting in New Haven; the Act was an effort to create an institution to train ministers and lay leadership for Connecticut. Soon thereafter, a group of ten Congregational ministers, Samuel Andrew, Thomas Buckingham, Israel Chauncy, Samuel Mather, Rev. James Noyes II, James Pierpont, Abraham Pierson, Noadiah Russell, Joseph Webb, Timothy Woodbridge, all alumni of Harvard, met in the study of Reverend Samuel Russell in Branford, Connecticut, to pool their books to form the school's library.
The group, led by James Pierpont, is now known as "The Founders". Known as the "Collegiate School", the institution opened in the home of its first rector, Abraham Pierson, today considered the first president of Yale. Pierson lived in Killingworth; the school moved to Saybrook and Wethersfield. In 1716, it moved to Connecticut. Meanwhile, there was a rift forming at Harvard between its sixth president, Increase Mather, the rest of the Harvard clergy, whom Mather viewed as liberal, ecclesiastically lax, overly broad in Church polity; the feud caused the Mathers to champion the success of the Collegiate School in the hope that it would maintain the Puritan religious orthodoxy in a way that Harvard had not. In 1718, at the behest of either Rector Samuel Andrew or the colony's Governor Gurdon Saltonstall, Cotton Mather contacted the successful Boston born businessman Elihu Yale to ask him for financial help in constructing a new building for the college. Through the persuasion of Jeremiah Dummer, Elihu "Eli" Yale, who had made a fortune through trade while living in Madras as a representative of the East India Company, donated nine bales of goods, which were sold for more than £560, a substantial sum at the time.
Cotton Mather suggested that the school change its name to "Yale College".. Meanwhile, a Harvard graduate working in England convinced some 180 prominent intellectuals that they should donate books to Yale; the 1714 shipment of 500 books represented the best of modern English literature, science and theology. It had a profound effect on intellectuals at Yale. Undergraduate Jonathan Edwards discovered John Locke's works and developed his original theology known as the "new divinity". In 1722 the Rector and six of his friends, who had a study group to discuss the new ideas, announced that they had given up Calvinism, become Arminians and joined the Church of England, they were returned to the colonies as missionaries for the Anglican faith. Thomas Clapp became president in 1745 and struggled to return the college to Calvinist orthodoxy, but he did not close the library. Other students found Deist books in the library. Yale was swept up by the great intellectual movements of the peri
The Juris Doctor degree known as the Doctor of Jurisprudence degree, is a graduate-entry professional degree in law and one of several Doctor of Law degrees. The Juris Doctor is earned by completing law school in Australia, the United States, some other common law countries, it has the academic standing of a professional doctorate in the United States, a master's degree in Australia, a second-entry, baccalaureate degree in Canada. The degree was first awarded in the United States in the early 20th century and was created as a modern version of the old European doctor of law degree. Originating from the 19th-century Harvard movement for the scientific study of law, it is a degree that in most common law jurisdictions is the primary professional preparation for lawyers, it involves a three-year program in most jurisdictions. To be authorized to practice law in the courts of a given state in the United States, the majority of individuals holding a J. D. degree must pass a bar examination. The state of Wisconsin, permits the graduates of its two law schools to practice law in that state, in its state courts, without having to take its bar exam—a practice called "diploma privilege"—provided they complete the courses needed to satisfy the diploma privilege requirements.
In the United States, passing an additional bar exam is not required of lawyers authorized to practice in at least one state to practice in the national courts of the United States, courts known as "federal courts". Lawyers must, however, be admitted to the bar of the federal court before they are authorized to practice in that court. Admission to the bar of a federal district court includes admission to the bar of the related bankruptcy court. In the United States, the professional doctorate in law may be conferred in Latin or in English as Juris Doctor and at some law schools Doctor of Law, or Doctor of Jurisprudence. "Juris Doctor" means "Teacher of Law", while the Latin for "Doctor of Jurisprudence"—Jurisprudentiae Doctor—literally means "Teacher of Legal Knowledge". The J. D. is not to be confused with Doctor of Legum Doctor. In institutions where the latter can be earned, e.g. Cambridge University and many other British institutions, it is a higher research doctorate representing a substantial contribution to the field over many years, beyond that required for a PhD and well beyond a taught degree such as the J.
D. The LL. D. is invariably an honorary degree in the United States. The first university in Europe, the University of Bologna, was founded as a school of law by four famous legal scholars in the 11th century who were students of the glossator school in that city; this served as the model for other law schools of the Middle Ages, other early universities such as the University of Padua. The first academic degrees may have been doctorates in civil law followed by canon law. While Bologna granted only doctorates, preparatory degrees were introduced in Paris and in the English universities; the nature of the J. D. can be better understood by a review of the context of the history of legal education in England. The teaching of law at Cambridge and Oxford Universities was for philosophical or scholarly purposes and not meant to prepare one to practice law; the universities only taught civil and canon law but not the common law that applied in most jurisdictions. Professional training for practicing common law in England was undertaken at the Inns of Court, but over time the training functions of the Inns lessened and apprenticeships with individual practitioners arose as the prominent medium of preparation.
However, because of the lack of standardisation of study and of objective standards for appraisal of these apprenticeships, the role of universities became subsequently of importance for the education of lawyers in the English speaking world. In England in 1292 when Edward I first requested that lawyers be trained, students sat in the courts and observed, but over time the students would hire professionals to lecture them in their residences, which led to the institution of the Inns of Court system; the original method of education at the Inns of Court was a mix of moot court-like practice and lecture, as well as court proceedings observation. By the fifteenth century, the Inns functioned like a university akin to the University of Oxford and the University of Cambridge, though specialized in purpose. With the frequent absence of parties to suits during the Crusades, the importance of the lawyer role grew tremendously, the demand for lawyers grew. Traditionally Oxford and Cambridge did not see common law as worthy of study, included coursework in law only in the context of canon and civil law and for the purpose of the study of philosophy or history only.
The apprenticeship program for solicitors thus emerged and governed by the same rules as the apprenti
Jacob Joseph "Jack" Lew is an American attorney and Democratic Party politician, the 76th United States Secretary of the Treasury, serving from 2013 to 2017. He served as the 25th White House Chief of Staff from 2012 to 2013 and served as Director of the Office of Management and Budget in both the Clinton and Obama Administrations. Born in New York City, Lew earned his A. B. from Harvard College a J. D. from Georgetown University Law Center. He began his legal career as a legislative assistant to Representative Joe Moakley, as a senior policy adviser to former House Speaker Tip O'Neill. Lew worked as an attorney in private practice before joining Boston's office of management and budget as a deputy. In 1993, he began work for the Clinton Administration as Special Assistant to the President. In 1994, Lew served as Associate Director for Legislative Affairs and Deputy Director of the Office of Management and Budget served as the agency's Director, from 1998 to 2001 again, from 2010 to 2012. Following his work in the Clinton administration, Lew became executive vice-president of operations at New York University, serving from 2001 to 2006 the COO at Citigroup, from 2006 to 2008.
During 2009 to 2010, Lew served as the first Deputy Secretary of State for Resources. On January 10, 2013, during President Barack Obama's second term, Lew was nominated to replace retiring Treasury Secretary Timothy Geithner, was confirmed by the Senate February 27, 2013, sworn in on the following day, serving until the conclusion of the Obama administration, resigning with the inauguration of Donald Trump. Lew was replaced, on an interim basis, by Adam Szubin, before being succeeded as Secretary of the Treasury by Steve Mnuchin. Lew was born in the son of Ruth and Irving Lew, his family is Jewish. He attended New York City public schools, his father was a lawyer and rare book dealer. Lew attended Carleton College in Minnesota for a year, where his faculty adviser was Paul Wellstone, who represented Minnesota in the U. S. Senate, he graduated from Harvard College in 1978 and the Georgetown University Law Center in 1983. He worked as an aide to Rep. Joe Moakley from 1974 to 1975. In 1979, he was a senior policy adviser to House Speaker Tip O'Neill.
Under O'Neill he served at the House Democratic Steering and Policy Committee as Assistant Director and Executive Director, was responsible for work on domestic and economic issues including Social Security, budget, trade and energy issues. Lew practiced as an attorney for five years as a partner at Van Ness Curtis, his practice dealt with electric power generation. He has worked as Executive Director of the Center for Middle East Research, Issues Director for the Democratic National Committee's Campaign 88, Deputy Director of the Office of Program Analysis in the city of Boston's Office of Management and Budget. From February 1993 to 1994, Lew served as Special Assistant to the President under President Clinton. Lew was responsible for policy development and the drafting of the national service initiative and health care reform legislation. Lew left the White House in October 1994 to work as OMB's Executive Associate Director and Associate Director for Legislative Affairs. From August 1995 until July 1998, Lew served as Deputy Director of OMB.
There, Lew was chief operating officer responsible for day-to-day management of a staff of 500. He had crosscutting responsibilities to coordinate Clinton administration efforts on budget and appropriations matters, he served as a member of the Administration negotiating team, including regarding the Balanced Budget Act of 1997. President Clinton nominated Lew to be Director of the OMB, the United States Senate confirmed him for that job on July 31, 1998, he served in that capacity until the end of the Clinton administration in January 2001. As OMB Director, Lew had the lead responsibility for the Clinton Administration's policies on budget and appropriations issues; as a member of the Cabinet and senior member of the economic team, he advised the President on a broad range of domestic and international policies. He represented the Administration in budget negotiations with Congress and served as a member of the National Security Council. After leaving public office in the Clinton administration, Lew served as the Executive Vice President for Operations at New York University and was a Clinical Professor of Public Administration at NYU's Wagner School of Public Service.
While at NYU, Lew aided the university in ending graduate students' collective bargaining rights. The Obama administration has maintained. According to a 2004 report in NYU's student newspaper, the Washington Square News, Lew was paid $840,339 during the 2002-2003 academic year. In addition, the university forgave several hundred thousand dollars in mortgage loans it made to Lew. In June 2006, Lew was named chief operating officer of Citigroup's Alternative Investments unit, a proprietary trading group; the unit he oversaw invested in a hedge fund "that bet on the housing market to collapse." During his work at Citigroup, Lew had invested in funds in Ugland House while he worked as an investment banker at Citigroup during the 2008 financial meltdown. Lew had oversight of Citigroup subsidiaries in countries including, the Cayman Islands, Hong Kong. Lew co-chaired the Advisory Board for City Year New York, he is a member of the Council on Foreign Relations, the
The Hartford Financial Services Group, Inc. known as The Hartford, is a United States-based investment and insurance company. The Hartford is a Fortune 500 company headquartered in its namesake city of Connecticut, it was ranked 156th position in Fortune 500 in the year of 2018. The company’s earnings are divided between property-and-casualty operations, group benefits and mutual funds; the Hartford is the 12th-largest casualty company in the United States. They sell products through a network of agents and brokers, have been the auto and home insurance writer for AARP members for more than 25 years; the Hartford was founded in 1810 in Connecticut. A group of local merchants gathered in a Hartford inn and, with working capital of $15,000, founded the Hartford Fire Insurance Company; the company survived some of the greatest peacetime tragedies in American history. After a huge fire destroyed New York's financial district in 1835, The Hartford's president, Eliphalet Terry, used his personal wealth to cover all of the company's damage claims.
Other catastrophic events included the Chicago fire of 1871 and the 1906 San Francisco earthquake and fire. The company logo shows a male deer, which in full maturity was referred to by the medieval hunting term hart; the etymology of ` Hartford' is the ford. The Seal of the City of Hartford features a mature male deer. 1913: Formed the Hartford Accident and Indemnity Company to provide a wide variety of insurance coverage, including accident, automobile-liability, personal-damage, business-interruption and more. 1959: Expanded into the life-insurance business by acquiring The Columbian National Life Insurance Company in Boston, Massachusetts. 1970: The Hartford was acquired by ITT Corporation for $1.4 billion, at the time the largest corporate takeover in American history. The combined company was renamed ITT-Hartford Group, Inc. 1995: ITT decided to streamline its operations and release some of its subsidiaries, The Hartford became an independent entity once again, trading on the New York Stock Exchange under the symbol "HIG." 1997: Changed name from ITT-Hartford Group, Inc. to the Hartford Financial Services Group, Inc. and issued an IPO for its Hartford Life business under the ticker symbol “HLI.” 2000: Reacquired all the shares of Hartford Life.
2004: Purchased the Group Benefits Division of CNA Financial. The division was based in Illinois. March 2012: Announced it would focus on property and casualty insurance, group benefits and mutual funds, would sell its wealth management businesses. 2013: Sold its life insurance business to Prudential, retirement plans to MassMutual, a broker-dealer to AIG. 2014: Sold its Japan annuities business to Orix Life Insurance Corp. Official website
Evanston is a city in Cook County, United States, 12 miles north of downtown Chicago, bordered by Chicago to the south, Skokie to the west, Wilmette to the north. It had a population of 74,486 as of 2010, it is one of the North Shore communities that adjoin Lake Michigan and is the home of Northwestern University. The boundaries of the city of Evanston are coterminous with those of the former Evanston Township, dissolved in 2014 by voters with its functions being absorbed by the city of Evanston. Prior to the 1830s, the area now occupied by Evanston was uninhabited, consisting of wetlands and swampy forest. However, Potawatomi Indians used trails along higher lying ridges that ran in a general north-south direction through the area, had at least some semi-permanent settlements along the trails. French explorers referred to the general area as "Grosse Pointe" after a point of land jutting into Lake Michigan about 13 miles north of the mouth of the Chicago River. After the first non-Native Americans settled in the area in 1836, the names "Grosse Point Territory" and "Gross Point voting district" were used through the 1830s and 1840s, although the territory had no defined boundaries.
The area remained only sparsely settled, supporting some farming and lumber activity on some of the higher ground, as well as a number of taverns or "hotels" along the ridge roads. Grosse Pointe itself eroded into the lake during this period. In 1850, a township called Ridgeville was organized, extending from Graceland Cemetery in Chicago to the southern edge of the Ouilmette Reservation, along what is now Central Street, from Lake Michigan to Western Avenue in Chicago; the 1850 census shows a few hundred settlers in this township, a post office with the name of Ridgeville was established at one of the taverns. However, no municipality yet existed. In 1851, a group of Methodist business leaders founded Northwestern University and Garrett Biblical Institute, they chose a bluffed and wooded site along the lake as Northwestern's home, purchasing several hundred acres of land from Dr. John Foster, a Chicago farm owner. In 1854, the founders of Northwestern submitted to the county judge their plans for a city to be named Evanston after John Evans, one of their leaders.
In 1857, the request was granted. The township of Evanston was split off from Ridgeville Township; the nine founders, including John Evans, Orrington Lunt, Andrew Brown, hoped their university would attain high standards of intellectual excellence. Today these hopes have been fulfilled, as Northwestern ranks with the best of the nation's universities. Evanston was formally incorporated as a town on December 29, 1863, but declined in 1869 to become a city despite the Illinois legislature passing a bill for that purpose. Evanston expanded after the Civil War with the annexation of the village of North Evanston. In early 1892, following the annexation of the village of South Evanston, voters elected to organize as a city; the 1892 boundaries are those that exist today. During the 1960s, Northwestern University changed the city's shoreline by adding a 74-acre lakefill. In 1939, Evanston hosted the first NCAA basketball championship final at Northwestern University's Patten Gymnasium. In August 1954, Evanston hosted the second assembly of the World Council of Churches, still the only WCC assembly to have been held in the United States.
President Dwight Eisenhower welcomed the delegates, Dag Hammarskjöld, secretary-general of the United Nations, delivered an important address entitled "An instrument of faith". Evanston first received power in April 1893. Many people lined the streets on Emerson St. where the first appearance of street lights were lined and turned on. Today, the city is home to Northwestern University, Music Institute of Chicago, other educational institutions, as well as headquarters of Alpha Phi International women's fraternity, Rotary International, the National Merit Scholarship Corporation, the National Lekotek Center, the Sigma Alpha Epsilon fraternity, the Sigma Chi Fraternity and the Woman's Christian Temperance Union. Evanston is the birthplace of Tinkertoys, is the one of the locations having originated the ice cream sundae. Evanston was Company, which for many years supplied the most jobs. Evanston was a dry community from 1858 until 1972, when the City Council voted to allow restaurants and hotels to serve liquor on their premises.
In 1984, the Council voted to allow retail liquor outlets within the city limits. According to the 2010 census, Evanston has a total area of 7.802 square miles, of which 7.78 square miles is land and 0.022 square miles is water. As of the census of 2010, there were 74,486 people, 30,047 households, 15,621 families residing in the city; the population density was 9,574.0 people per square mile. There were 33,181 housing units at an average density of 4,264.9 per square mile. The 2010 census showed that Evanston is ethnically mixed with the following breakdown in population: 65.6% White, 18.1% Black or African American, 0.2% American Indian or Alaska Native, 8.6% Asian, 0.02% Native Hawaiian or other Pacific Islander, 3.6% some other race, 3.8% from two or more races. 9.0 % were Latino of any race. There were 30,047 households, out of which 26.1% had children under the age of 18 living with them, 39.8% were headed by married couples living together, 9.7% had a female householder with no husband present, 48.0% were non-families.
37.5% of all households were made up of individuals, 10
R. James Woolsey Jr.
Robert James "Jim" Woolsey Jr. is an American lawyer and diplomat who headed the Central Intelligence Agency from February 5, 1993, until January 10, 1995. He held a variety of government positions in the 1970s and 1980s, including as Under Secretary of the Navy from 1977 to 1979, was involved in treaty negotiations with the Soviet Union for five years in the 1980s, his career included time as a professional lawyer, venture capitalist and investor in the private sector. Woolsey was born in Tulsa, the son of Clyde and Robert James Woolsey, Sr, he graduated from Tulsa's Tulsa Central High School. In 1963, he received his BA from Stanford University, in 1965 his MA from Oxford University, where he was a Rhodes Scholar, an LLB from Yale Law School in 1968. Woolsey was founder and president of Yale Citizens for Eugene McCarthy for President from 1967 to 1968, he was prominently active in the anti-Vietnam War movement. Woolsey has held important positions in both Republican administrations, his influence has been felt during the administrations of Jimmy Carter, Ronald Reagan, George H. W. Bush, Bill Clinton.
He has worked at the Shea & Gardner law firm, as Associate and partner. Woolsey has served in the U. S. government as: Advisor on the U. S. Delegation to the Strategic Arms Limitation Talks and Vienna, 1969–1970 General Counsel to the U. S. Senate Committee on Armed Services, 1970–73 Under Secretary of the Navy, 1977–1979 Delegate at Large to the U. S.-Soviet Strategic Arms Reduction Talks and Nuclear and Space Arms Talks, Geneva, 1983–1986 Ambassador to the Negotiation on Conventional Armed Forces in Europe, Vienna, 1989–1991 Director of CIA, 1993–1995 As Director of the CIA, Woolsey was notable for having had limited access to President Bill Clinton. According to journalist Richard Miniter: Never once in his two-year tenure did CIA director James Woolsey have a one-on-one meeting with Clinton. Semi-private meetings were rare, they only happened twice. Woolsey told me: "It wasn't that I had a bad relationship with the president, it just didn't exist." Another quote about his relationship with Clinton, according to Paula Kaufman of Insight on the News: Remember the guy who in 1994 crashed his plane onto the White House lawn?
That was me trying to get an appointment to see President Clinton. David Halberstam notes in War in a Time of Peace that Clinton chose Woolsey for CIA director because the Clinton campaign had courted neoconservatives leading up to the 1992 election, promising to assist democratic Taiwan, Bosnia in Bosnian War, be tougher on human rights violations in China, it was decided that they ought to give at least one neoconservative a job in the administration. Woolsey was CIA director when Aldrich Ames was arrested for treason and spying against the United States; the CIA was criticized for not focusing on Ames sooner, given the obvious increase in Ames' standard of living. Woolsey declared: "Some have clamored for heads to roll in order that we could say that heads have rolled... Sorry, that's not my way." Woolsey abruptly resigned on Dec 28, 1994. Woolsey is the chairman of the Foundation for Defense of Democracies, he is Chairman of the Advisory Board at the Opportunities Development Group. ODG did not file a federal tax return in 2006, 2007, 2008, 2009, 2010, 2011 and 2012.
He is a member of the Washington Institute for Near East Policy Board of Advisors, Advisor of the Institute for the Analysis of Global Security, co-founder of the United States Energy Security Council, Founding Member of the Set America Free Coalition, a Senior Vice President at Booz Allen Hamilton for Global Strategic Security. He is a Patron of the Henry Jackson Society, a British think tank. Woolsey has had long-standing contact with Central and Eastern Europe and as a Member of the Board of Advisors of the Global Panel Foundation based in Berlin, Prague and Toronto, he was chairman of the Freedom House board of trustees. He is a member of the International Advisory Board of NGO Monitor. Woolsey is a member of the Project for the New American Century and was one of the signatories to the January 26, 1998 letter sent to President Clinton that called for the removal of Saddam Hussein; that same year he served on the Rumsfeld Commission, which investigated the threat of ballistic missiles for the U.
S. Congress. In 2008, Woolsey joined VantagePoint Venture Partners as a venture partner. John McCain hired Woolsey as an advisor on energy and climate change issues for his 2008 U. S. Presidential election campaign. In April 2011, Lux Capital announced. In July 2011, Woolsey, in cooperation with Robert McFarlane, co-founded the United States Energy Security Council. Woolsey sits on the Board of Advisors for the Fuel Freedom Foundation, he received an honorary doctorate from the Institute of World Politics in Washington, DC in 2011. Woolsey was a Board Member and Vice-Chairman of The Jamestown Foundation, sits on the advisory board for nonprofit America Abroad Media. Woolsey sits on the Strategic Advisory Board for Genie Energy with Dick Cheney, Rupert Murdoch, Lord Jacob Rothschild. Genie is known for discovering a "massive" oil strata in Syrias Golan Heights near Israel, he serves as Chancellor at The Institute of World Politics and the independent non-executive director of Imperial Pacific. Woolsey joined as a senior adviser to Republican presidential candidate Donald Trump in September 2016.