Info: Our guest is James Grant, author of the new biography of Thomas Reed, Speaker of the House from 1889 to 1891 and again from 1895 to 1899. During that time he increased the power of the Speaker and, according to Grant, "changed forever the way the House of Representatives does its business." He did this by establishing the power of majority rule instead of allowing the minority to hold up consideration or passage of legislation. James Grant has authored six books including a biography of John Adams. The rest of his books have been about financial matters including a biography of Bernard Baruch. In 1983, he founded Grantís Interest Rate Observer, a subscription based journal of the financial markets, which he still runs today.