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On May 6, 1971, President Richard M. Nixon and members of the President's Commission on Financial Structure and Regulation, including Reed O. Hunt, Atherton Bean, Morris D. Crawford, Jr., Morgan C. Earnest, James H. Edgerton, Richard G. Gilbert, William D. Grant, Alan Greenspan, Walter S. Holmes, Jr., [Joseph] Lane Kirkland, Donald S. MacNaughton, Edward H. Malone, Rex J. Morthland, William H. Morton, Ellmore C. Patterson, K. A. Randall, Ralph S. Regula, Dr. Raymond J. Saulnier, Ezra Solomon, Robert H. Stewart, III, Allen R. Rule, James Lynch, Lucille Mayne, Bertwing Mah, Dr. Donald Jacobs, Dr. Almarin Phillips, Dr. Samuel Chase, Clarence Scruggs, Henry Shine, Jr., Neil Murphy, Charls E. Walker, Peter M. Flanigan, and the White House photographer, met in the Cabinet Room of the White House from 3:32 pm to 4:15 pm. The Cabinet Room taping system captured this recording, which is known as Conversation 056-001 of the White House Tapes.