David Malpass

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David Malpass
Personal details
Political party Republican
Residence New York City, New York
Occupation Economist
Website http://www.encimaglobal.com

David R. Malpass (born March 8, 1956) is an American economist and also ran in the 2010 Republican primary for U.S. Senate in New York. He is the founder and president of Encima Global LLC, an economic research and consulting firm based in New York City. He served as Deputy Assistant Treasury Secretary under President Ronald Reagan, Deputy Assistant Secretary of State under President George H. W. Bush, and Chief Economist at Bear Stearns.

During the presidencies of Ronald Reagan and George H. W. Bush, Malpass worked on an array of economic, budget, and foreign policy issues including small business promotion throughout Latin America, and the 1986 tax cut.[1] Malpass served as the Republican staff director of Congress’s Joint Economic Committee from 1989–1990, and, more recently, as a member of Congress’s blue-ribbon panel on budget scoring from 2002-2003.[1]

Malpass worked at Bear Stearns for 15 years, with six of those years as the firm's chief economist. Malpass' team ranked second in the Institutional Investor ranking of Wall Street economists in 2005, 2006, and 2007.

Malpass founded Encima Global in June 2008. As head of Encima Global, Malpass provides daily in-depth analysis of global economic and political trends relevant to institutional investors.[2]

Malpass authors a column in Forbes magazine and is a regular contributor to the op-ed section of [The [Wall Street Journal]].[3] He is also a frequent TV commentator. From 1977 to 1983 Malpass worked in Portland Oregon for Esco Corporation (steel), Arthur Andersen (where he became a licensed CPA), and Consolidated Supply (plumbing wholesaler.) In 2012, he wrote a chapter entitled 'Sound Money, Sound Policy' in The 4% Solution: Unleashing the Economic Growth America Needs, published by the George W. Bush Presidential Center.

Malpass sits on the boards of the New Mountain Financial Corporation[4] and The Gary Klinsky Children's Center. He is also a former director of The National Committee on United States-China Relations, The Council of the Americas, and The Economic Club of New York.

Chairman of GrowPac[edit]

David Malpass is the Chairman of GrowPac.com, a political organization dedicated to renewing America’s commitment to smaller government, individual freedom, private sector growth and strong national security. When founded in October 2010, Grow PAC's immediate objective was to help elect members of Congress who will stop the uncontrolled federal spending and debt increases and encourage private sector job growth in New York. Its broader purpose is to support positive ideas and candidates nationwide to meet the hard challenges facing our country. Grow PAC will work with private sector leaders, the policy world, and candidates and elected officials to produce concrete workable solutions.

U.S. Senate campaign (2010)[edit]

David Malpass announced his campaign to unseat Senator Kirsten Gillibrand (D) on April 15, 2010.

Malpass won a place on the primary ballot at the 2010 New York GOP Convention with the support of 33 out of 62 counties statewide, more than any other candidate. He earned 41% of the weighted vote on the first ballot.[5] Malpass was opposed by Bruce Blakeman, a former Nassau county legislator and unsuccessful candidate for state comptroller, and former Congressman Joseph DioGuardi, the Conservative Party of New York State nominee who petitioned for his position on the primary ballot.[6]

In the primary held on 14 September 2010 DioGuardi defeated Malpass 42% to 38%, with Blakeman receiving 21%.

Policy positions[edit]

Government waste[edit]

As a columnist, Malpass has been a critic of government spending and taxation levels in the United States. He has referred to Washington’s legislative and regulatory culture as being “possessed” by a “culture of tax-and-spend” (Washington Possessed), and has warned that Washington’s ongoing expansion threatens to bring about “a fundamental deterioration in America’s private sector.” He has written that “[S]mall businesses are the nation’s critical engine for growth, innovation and job creation, yet they are being starved for credit and slammed with more taxes, government directives and litigation exposure”[7]

Financial reform[edit]

In a National Review column on March 19, 2010, Malpass stated that the financial regulation bill then under consideration would “add more to Washington’s power and bureaucracy without fixing core problems.”[8] He wrote, "Rather than creating a new oversight department that expands Washington’s regulatory power, it would be better to use this opportunity – per the Obama Administration’s notion of not letting a crisis go to waste – to streamline and concentrate the many existing consumer financial regulations in one place”.[8]

Endorsements and supporters[edit]

Former Mayor Rudy Giuliani endorsed David Malpass on September 7, 2010, who praises him as a "lifelong fiscal conservative" who's the best choice to take on incumbent Democratic Sen. Kirsten Gillibrand in November.[9]

On June 4, 2010, the New York Sun endorsed Malpass in an editorial. The same editorial cited Blakeman in Nassau County's budget crisis and tax increases.[10]

On September 1, 2010, the New York Post endorsed Malpass in an editorial. The same editorial criticized Malpass' potential opponent on the Democratic side, Kristen Gillibrand.[11]

Malpass' Senate bid has been endorsed by former presidential candidate, Steve Forbes, who appeared with Malpass and other supporters when Malpass announced his campaign.[12]

John Faso, a former gubernatorial candidate, has endorsed Malpass and appeared at his campaign announcement.[12]

On September 12, 2010 David Malpass received the endorsement of Crain's New York Business: "The last thing New York needs is a Wizard-of-Oz candidacy in which our junior senator ignores her challenger and does her talking in 30-second commercials. Mr. Malpass has the wherewithal to engage her, and we endorse him in the Republican primary..." [13]

Westchester Rising Publications endorsed David Malpass on September 12, 2010: "The Republican Party in New York State needs new leadership and new candidates to tap into voter discontent over taxes, spending and debt here in New York State and in Washington DC. In the GOP Primary for U.S. Senate, to determine who will face off against Democrat Senator Kirsten Gillibrand, we endorse David Malpass." [14]


Malpass holds a BA in physics from Colorado College[1] and an MBA from the University of Denver. He studied international economics at Georgetown University’s School of Foreign Service. He speaks Spanish, Russian, and French.[15]

Personal life[edit]

Malpass and his wife, Adele Obermayer, grand-daughter of Navy captain, Neville Levy, live in New York City. Malpass is a native of northern Michigan.[16]


  1. ^ a b c "National Review Author Profile". 
  2. ^ Republican ex-finance honcho David Malpass shooting for Kirsten Gillibrand's Senate seat, by Celeste Katz and David Saltonstall, Daily News, 15 April 2010, [1]
  3. ^ Malpass, David (October 7, 2009). "Wall Street Journal". The Wall Street Journal. 
  4. ^ http://www.newmountainfinance.com/our-team/david-r-malpass.  Missing or empty |title= (help)
  5. ^ Malpass: The Strategy
  6. ^ [2]
  7. ^ David Malpass (June 28, 2010). "Shakedown". Forbes. 
  8. ^ a b Raymond J. Keating (June 29, 2010). "David Malpass Runs for Senate". The National Review. 
  9. ^ "Blogs". Daily News (New York). 
  10. ^ "David Malpass for the GOP", The New York Sun, 4 June 2010
  11. ^ "For the GOP: David Malpass", The New York Post, 1 September 2010
  12. ^ a b "David Malpass Challenging Kirsten Gillibrand for U.S. Senate"
  13. ^ http://www.crainsnewyork.com/keywords/3247/David+Malpass
  14. ^ http://www.risingmediagroup.com/westchestercrusader.html
  15. ^ Beth Fouhy (AP) (April 14, 2010). "David Malpass For Senate: Republican Economist To Challenge Gillibrand". The Huffington Post. 
  16. ^ "U.S. Senate hopeful seeks to unseat Gillibrand" Howard W. Appell, The Livingston County News, 14 July 2010]

External links[edit]