Summer Snow Storm
Treasury Secretary John Snow resigned his post this morning and will be replaced by Goldman Sachs Chairman and CEO Henry M. Paulson Jr.
From the Associated Press:
Treasury Secretary John Snow has resigned and will be replaced by Goldman Sachs Chairman Henry M. Paulson Jr., a senior administration official said Tuesday, in another chapter of a White House shake-up to revive President Bush’s troubled presidency.
Bush was to announce the changes in a White House ceremony later Tuesday.
Snow, the former head of railroad giant CSX Corp. who has a Ph.D. in economics, has been Treasury secretary since February 2003. His departure has been rumored for more than a year.
Paulson has been chairman of Goldman Sachs for about eight years. It is considered one of the premier financial firms on Wall Street and has sent a number of its top executives to high positions in Washington.
May 30th, 2006 at 9:23 am
Bush would have been smarter to nominate someone with polished spin/pitch credentials like Don Evans. Snow couldn’t sell the economy as an “expert,” don’t know why Paulson would be any better.
May 30th, 2006 at 12:41 pm
Zoellick got fucked.