Michael was adopted by Reagan and his first wife. He and his adoptive father were never close. In his memoirs he described himself as an unhappy, secretive child who hated his adoptive parents for always switching him from one school to another. When Reagan became president, Michael complained that he could only talk to him as a regular White House visitor, forced to make his way past a crowd of secretaries and bodyguards.
Michael dropped out of college and couldn’t decide what to do for a long time. He worked unloading freight trains, participated in speed boat races, hosted a television game show and starred in soap operas. He had two serious run-ins with the law -- the first time for stock fraud and the second for using his father’s famous name when trying to sell equipment. He was acquitted both times. Later the White House security service accused him of stealing knick-knacks from the presidential residence. In 1989, Michael became the host of a radio show and about two million people still listen to his program every evening. However, not all of Michael’s problems are left far in the past. Three years ago, his son, then 22, was arrested for breaking into an automobile. He was discovered to have been carrying marijuana.
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http://www.washprofile.org/English/28%20(June%2029)/reagan's%20children.asp