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A Bush Loyalist Tackles Katrina Recovery
Donald E. Powell was FDIC chairman when the president made him federal coordinator of the rebuilding effort.
(By Jahi Chikwendiu -- The Washington Post)
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Powell rescued a troubled West Texas community bank from collapse in the late 1980s before selling it, starting another bank and selling it. He disclosed assets of $17.4 million to $58 million in 2004, according to the FDIC.
Powell's decisions in the boom-and-bust economy meant cutting jobs and foreclosing businesses, Marsh said. "He did all that, but still kept everyone's respect."
At the same time, Powell rose to prominence in GOP circles. Initially "too busy" for state politics, Powell has contributed more than $118,000 to Republican candidates and party committees since 1990, according to public records and the statement he submitted before a Senate confirmation vote in 2001.
He contributed $24,000 directly to Bush in his 1994 and 1998 bids for Texas governor and 2000 presidential race. Powell was an original member of Bush's 2000 fundraising committee and raised more than $100,000 as a "Pioneer." In 1995, Bush appointed Powell to the Texas A&M board of regents.
The university attracted the presidential library and museum of former president Bush, and started the Bush School of Government and Public Service. Powell chairs the school's advisory board, serving at times with Vice President Cheney's wife, Lynne; Secretary of State Condoleezza Rice; and presidential son and brother Neil Bush.
"Don has an extraordinary ability to get varied, disparate people to work together, and it's a combination of persuasion and also toughness," said Robert M. Gates, Texas A&M president since 2002 and CIA director under the first President Bush. "The job is going to get done -- and it will get done a lot easier if everybody works together."
Researcher Meg Smith contributed to this report.
