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Roger Kormendi Obituary



KORMENDI ROGER C. KORMENDI Roger C. Kormendi, a long-time senior member of the Graduate School of Business faculties at the University of Chicago and the University of Michigan, died February 25, 2009 after a long illness. The cause was Creutzfeldt-Jakob Disease, a degenerative brain disorder. He was 59. Dr. Kormendi was an economist who conducted important research studies in several areas of macroeconomics and finance and was the author of over fifty scholarly books and articles. His early work focused on macroeconomic monetary and fiscal policy, and helped to form the current understanding of the effect of deficit spending on economic cycles. Later he founded Mid-America Institute for Public Policy Research while at the University of Chicago, and there he led several cutting-edge research projects in areas of then-current economic or financial crises. Among these were Deregulating Financial Services: Public Policy in Flux in 1986 and Black Monday and the Future of Financial Markets in 1989. The most influential, however, was the Institute‘s publication of Crisis Resolution in the Thrift Industry in 1989, just as Congress was confronting the Savings and Loan Crisis. Its analysis and recommendations were incorporated in many respects both in the legislation passed to address the crisis, the Financial Institutions Reform, Recovery and Enforcement Act, or FIRREA, and in the policies adopted by the federal agency created by FIRREA, Resolution Trust Corporation or RTC, which conducted the thrift clean-up. Dr. Kormendi co-founded Kormendi \ Gardner Partners, known as KGP, a financial advisory firm based in Washington, D.C. At KGP Dr. Kormendi directed or co-directed many innovative financial engagements for public and private clients. Among these were the first “pipeline sale” public-private partnership for the Department of Defense, the renegotiation of the largest federally assisted acquisition of a failed thrift for RTC, the first variable equity retained interest transactions, also for RTC, and, for the Securities and Exchange Commission, the first plan for distributing a Sarbanes-Oxley Fair Fund established to compensate investors in variable annuity funds harmed by illegal trading by market timers. In addition, Dr. Kormendi led the KGP team that advised a private client on its effort to re-capitalize Credit Foncier de France, a historic bank owned by the French government. Roger Charles Kormendi was born on July 24, 1949 in New York. He was the only child of his late parents, Andre and Irene Kormendi. He graduated in 1967 from Woodson High School in Falls Church, Virginia, and in 1971 from the University of Virginia with High Honors in Economics. He earned a Ph.D. in Economics in 1977 from the University of California at Los Angeles, where he was a Chancellor‘s Intern Fellow. Dr. Kormendi‘s first marriage to the former Paula Stone ended in divorce. He is survived by his wife, Traci Jefferson of Clearwater, Florida; and his sons by his first marriage, Andre of Ypsilanti, Michigan, Peter of Fairfax, Virginia, and Alex of Arlington, Virginia. A memorial service will be held on Saturday, April 4, 2009 at 3 p.m. at Christ Lutheran Church, 5101 16th Street NW, Washington, DC 20011, phone 202-829-6727. The family requests that donations in memory of Dr. Kormendi be made to The CJD Research Fund, The University of Chicago, Department of Neurology, MC2030, 5841 S. Maryland Avenue, Chicago, IL 60637.

Published by The Washington Post on Mar. 8, 2009.
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Memories and Condolences
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Miss you Roger and all the amazing conversations we had.

Jon Satterwhite

Friend

March 2, 2020

Roger was an extraordinarily intelligent and considerate man. I still miss our spirited conversations. Ive never met a more knowledgeable person that was so down to earth. I miss him dearly.

Jon Satterwhite

Friend

March 2, 2019

It is still very difficult to express the loss of Roger's presence whether it was on the beach, at the dinner table, on the golf course or just simply discussion of current events.
Roger was a giant of man who was
unselfish, generous, humorous,
accomplished and humble. We were
extremely grateful that Roger became a part of our family.
We miss Roger very much.

H B Jefferson

April 4, 2009

To my friend Roger: We never seemed to have enough time, it always passed so quickly on Clearwater Beach. I always thought we would have another time to visit and enjoy time together. I am so sad that is not going to be possible. I guess it just shows how fleeting life truly can be. I will always miss that mischievous grin and the times we smoked cigars and drank red wine while pondering world events. This world has lost an important force of honesty, intellect, and humor and I have lost an irreplaceable friend. My prayers and sympathy go out to Traci and the family.

Jon Satterwhite

April 1, 2009

I was very sad to see that my old friend from Whittier Junior High had passed away but proud to see what a distinguished person that young man had become. My warmest regards and deepest sympathy to his family.

David Werth

March 20, 2009

Roger was such a kind and generous soul-I feel honored to have been a part of his life. He holds a very dear place in our family's heart.

Teresa Jefferson

March 19, 2009

Roger was a man of great personal and professional accomplishment throughout his life. And, he was blessed with strength, courage, and joy for life's journey. My prayers go out to his wife and sons.

Randy Thurman WTW 67'

March 10, 2009

I'm another who knew Roger since elementary school. I arrived in sixth grade unable to "do" long division. Our teacher paired Roger and me as study partners, and in no time I could complete my arithmetic along with the best of them. I read about Roger's accomplishments with a smile. Who better to help me conquer arithmetic? I ran into Roger downtown several years ago, another happy day for me. My deep condolences to his family.

Laura Noble

March 9, 2009

Knowing Roger in childhood when we all seemed so much alike, it is then so sobering to read of his accomplishments and realize he was much more special than the rest of us. My condolences to the family.

Gail Schultz MacLeod

March 9, 2009

I first met Roger in elementary school in Holmes Run Acres. In addition to being incredibly bright, he was kind and rather quiet. I'm sorry to have lost touch with him after high school, and would like to extend my greatest sympathy to his family.

Katherine Kraft

March 9, 2009

Roger, a boyhood friend, Holmes Run Acres neighbor and HS classmate, gone far too soon. We who lost touch are the lesser for having let that happen. From what I've recently learned he truly made a difference. To Traci, Andre, Peter & Alex - thoughts and prayers for kindness, courage and love.

Jerry Flavel

March 9, 2009

I was a friend of Roger's all thru elementary & intermediate school, and upon my return senior year of high school. We had since lost touch, but I am very saddened at the loss of such a dynamic and brilliant classmate. I will remember many things, but especially Roger responding in French when his mother spoke to us in German, but responding in English if she switched to French.

Chris Kessler

March 9, 2009

I am so sorry for this tragic loss of a great man. I have not seen Roger for years, but I remember him well from our days at W.T. Woodson in Fairfax, VA. Please accept my sincere condolences.
Dale Morgan
WTW 67 Classmate

Dale Morgan

March 9, 2009

Roger will be missed both for the acts of his mind and for the acts of his heart.

Richard Rumrill

March 9, 2009

So sorry for your loss, although I did not know Roger, my Mom died of this disease & I can relate to what the family went through. Please accept my most sincere sympanthy on your loss.

L PRESCOP

March 9, 2009

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