The conventional wisdom was that President Bush wouldn't be able to get someone of stature to take the post of Treasury secretary whenever John Snow's much-rumored departure finally happened.* The conventional wisdom was that President Bush wouldn't be able to get someone of stature to take the post of Treasury secretary whenever John Snow's much-rumored departure finally happened. But Bush defied the skeptics and landed Henry Paulson, the widely respected chairman of Goldman Sachs The Goldman Sachs Group, Inc., or simply Goldman Sachs (NYSE: GS) is one of the world's largest global investment banks. Goldman Sachs was founded in 1869, and is headquartered in the Lower Manhattan area of New York City at 85 Broad Street. . Paulson is a conservative with instant credibility on Wall Street, and he lends the Bush economic team the gravitas grav·i·tas n. 1. Substance; weightiness: a frivolous biography that lacks the gravitas of its subject. 2. it has lacked until now. An effective Treasury secretary is listened to, either in Washington or on Wall Street--or, ideally, both. Bush's first Treasury secretary, Paul O'Neill Paul O'Neill may refer to:
n. 1. The quality or state of being unrelated to a matter being considered. 2. Something unrelated to a matter being considered. Noun 1. . Snow had the best of intentions, but as a former CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of a railroad he wasn't well known on Wall Street and was undercut in Washington by White House leaks against him. Treasury has been a much-diminished department in the Bush years. The White House would be well advised to allow it to regain some of its heft and have a stronger voice in policy formulation, especially now that it has a sterling new secretary. |
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