United States Secretary of Treasury under Presidents Richard Nixon and Gerald Ford from 1974-1977. Previously he served as Director of the Federal Energy Office during the energy crisis of the early 1970s. He worked to convince oil-producing nations to place their petrodollar surpluses in U.S. bank deposits but discouraged them from direct investment in U.S. corporations. Simon served as Secretary of Treasury in the midst of an economic recession. During which he became a prominent spokesman for fiscal discipline and free markets.