On Oct. 14, the Texas A&M Board of Regents made an important decision concerning who would be guiding the future of the Texas A&M University System. The office of chancellor had been vacant for 14 months prior to this decision due to the health-related resignation of late Chancellor Howard Graves. After a long search, two candidates were identified.
One of these candidates was Benton Cocanougher, who had been serving as interim chancellor since Graves’ resignation. Prior to his appointment as interim chancellor, he served as a special assistant to A&M President Robert M. Gates and as dean of the Mays College of Business.
The other finalist was Bob McTeer. A longtime economist with the Federal Reserve, he had served as president of the Dallas branch of the Federal Reserve Bank since 1991. While in this position, McTeer was one of the most vocal proponents of pro-growth and free market economic policies. His success in this position has been widely noted, with well-known economic commentators Steve Moore of the Club for Growth and Larry Kudlow of CNBC, endorsing McTeer as a successor to Federal Reserve Chairman Alan Greenspan.
With a vote of 5-4, the Regents chose McTeer as the new chancellor. This was a wise decision.
There is no doubt that both of these men were more than qualified for the job of chancellor; however, there was one notable difference between the two candidates. Cocanougher is an academic who has served the University in a number of capacities for many years. McTeer, who is not without his own credentials in higher education, has demonstrated a long track record of success that requires skill in the political and business worlds.
The A&M System needed someone who could come in and provide a new perspective on how to grow and prosper while still recognizing the essence of A&M and the other universities in the system. Though Cocanougher did a fine job while serving as interim chancellor, he did not possess some of the experiences and connections that McTeer would bring to the office of chancellor.
Though there is a tendency for Aggies to be averse to outsiders assuming roles of power and influence within A&M, we need not be afraid of McTeer. His story of growing up in rural Georgia, working hard and achieving personal and professional success is one that many Aggies can relate to. Politically, McTeer’s views are in line with those of many Aggies. He is a close friend of former Sen. Phil Gramm. Many of those who supported Gramm for the presidency of A&M several years ago supported McTeer for chancellor. Additionally, McTeer has spoken highly of economists Milton Friedman and Fredric Bastiat, who are respected by many conservatives and libertarians.
Perhaps the most endearing quality of McTeer’s is his sense of humor. A section of the Dallas Federal Reserve’s Web site is dedicated to McTeer’s speeches and writings. Included on this Web site is a collection of poetry by McTeer called “Rhymes with No Reason.” Among his many poems are “My Very First Cowboy Poem Ever,” “Give Growth a Chance” and “Dollarization: A Limerick.” My personal favorite is “My First Haiku,” which reads:
Japanese haiku
Is too sophisticated
For a country boy
(I couldn’t have said it better myself.)
Therefore, Aggies should welcome McTeer to his new position. He has what it takes to improve the stature of Texas A&M University. Personally, I’m looking forward to his first Aggie poem.