Catherine Fitts

Catherine Austin Fitts bio: Catherine Austin Fitts (born December 24, 1950, in Philadelphia, Pennsylvania) is an American investment banker and former public official known for her expertise in public finance and government transparency. She earned an AA degree from Bennett College in 1970, a BA in history from the University of Pennsylvania in 1974, and an MBA from the Wharton School in 1978. Fitts began her career at Dillon, Read & Co., where in 1986 she became the first woman managing director in the firm's 156-year history. She gained recognition for organizing a pioneering municipal bond sale in 1982 to revitalize the New York Subway System, marking the first time bonds backed by rider fares were sold by a public agency. Businessweek described her as "Wall Street's foremost champion" of public utilities bonds. In the late 1980s, Fitts worked on George H.W. Bush's presidential campaign and was appointed Assistant Secretary of Housing and Urban Development (HUD) for Housing from 1989 to 1990. In this role, she sought to reform HUD in the aftermath of the savings and loan crisis, including initiatives to sell government-foreclosed homes at discounts to non-profits to address housing shortages and reduce government costs. She resigned in 1990 amid reported tensions with HUD Secretary Jack Kemp. After leaving HUD, Fitts declined an appointment to the Federal Reserve Board of Governors, choosing instead to return to the private sector. She founded Hamilton Securities Group, an investment bank and financial software company, which later managed a large HUD portfolio. Currently, she is the managing member of Solari Investment Advisory Services, LLC, and president of Solari, Inc., focusing on financial transparency and public spending issues. Fitts has also been a vocal critic of government fraud and has written extensively on these subjects