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RICHARD VAGUE

Researcher
Thought Leader
Solution Provider

Biography
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Those who champion the trickle-down theory of economics are correct—except for one detail: it is debt that has been trickling down, not wealth.

Richard Vague

A BRIEF INTRODUCTION

About Richard

Richard is the author of The Paradox of Debt, which presents a new view of macroeconomics, The Case for a Debt Jubilee, a policy exploration of debt relief, An Illustrated Business History of the United States, the story of our nation’s business progress, A Brief History of Doom, a chronicle of major world financial crises, and The Next Economic Disaster, a book with a new approach for predicting and preventing financial crises.

 

Richard currently serves on the University of Pennsylvania Board of Trustees and the Penn Medicine Board of Trustees, and on a number of business boards. He serves a Vice Chair of PSERS, Pennsylvania’s largest public pension fund, chair of the University of Pennsylvania Press, and chair of the Innovation Advisory Board of the Abramson Cancer Center.  He also serves on the Governing Board of the Institute for New Economic Thinking and the board of the Fund for the School District of Philadelphia. He is the founder of the economic data service Tychos (tychosgroup.org), which specializes in analyzing private debt trends, and the email newsletter service Delanceyplace.com, which focuses on non-fiction literature.

 

He previously served Secretary of Banking and Securities for the Commonwealth of Pennsylvania. And as Chair of the Pennsylvania Housing Finance Agency. Richard served as managing partner of Gabriel Investments, an early stage venture capital company, co-founder, Chairman and CEO of Energy Plus, an electricity and natural gas supply company, and co-founder and CEO of two consumer credit card banks, First USA and Juniper Bank.

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More on Richard
ECONOMIC RESEARCHER

Richard Wade Vague is an American businessperson,
and author who previously served as the Secretary of Banking and Securities for the Commonwealth of Pennsylvania.

THOUGHT LEADER

Richard is the author of The Paradox of Debt, which presents a new view of macroeconomics, The Case for a Debt Jubilee, a policy exploration of debt relief, An Illustrated Business History of the United States, the story of our nation’s business progress, A Brief History of Doom, a chronicle of major world financial crises, and The Next Economic Disaster, a book with a new approach for predicting and preventing financial crises.

SOLUTION PROVIDER

Tychos Analytics Group, DebtEconomics.Org, and DelanceyPlace.com are three organizations that Richard runs to help consumers understand debt, align themselves proactively, and have a better understanding of what the government must do to fix the nation's wealth gap issue.

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Richard currently serves as managing partner of Gabriel Investments, an early stage venture capital company. Vague was also cofounder, Chairman and CEO of Energy Plus, an electricity and natural gas supply company operating in states throughout the U.S. that was sold to NRG Energy in 2011, and also co-founder and CEO of two banks—First USA, a consumer-oriented bank which grew to be the largest Visa issuer in the industry and which was sold to Bank One in 1997, and Juniper, a bank that was the fastest growing credit card issuer in its era, which was sold to Barclays PLC in 2004.

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