May 26, 2006


Treasury Secretary to Step Down (Peter Baker and Paul Blustein, 5/26/06, Washington Post)

Treasury Secretary John W. Snow, who has presided during a period of strong economic growth but at times seemed out of sync with President Bush, has informed the White House that he will resign in the coming days after three years as the nation's chief economic officer, a source close to Snow said yesterday.

Snow asked the White House to announce his resignation in early June and said he plans to stay in the job no later than July 3 while a replacement is sought, the source said. The secretary's decision was intended to bring finality to a process that has played out awkwardly in public over months as Snow's job security has been a regular source of Washington speculation.

Republican insiders said possible candidates to succeed Snow include former commerce secretary Donald L. Evans, a longtime Bush friend; Commerce Secretary Carlos M. Gutierrez, a former Kellogg Co. chief executive; Ambassador David C. Mulford, a former treasury undersecretary who represents the United States in India; and Stephen Friedman, the president's former chief economic adviser and a former Goldman Sachs chief executive. [...]

Deputy Secretary of State Robert B. Zoellick, a former trade representative, had hoped to be named the next treasury secretary but does not appear likely to get the job, and has indicated to associates that he plans to resign soon to return to the private sector.

It's a job that could use a pitchman and there's no better carny barker in the GOP than Newt Gingrich.

Posted by Orrin Judd at May 26, 2006 8:32 AM

Newt's looking at president in '08 and won't want to be tied down.

Posted by: AWW at May 26, 2006 9:41 AM

For what it's worth, Larry Kudlow would make a fantastic Treasury Secretary.

Posted by: LC at May 26, 2006 9:53 AM

Newt is persona non grata, and deserves to be.

Posted by: David Cohen at May 26, 2006 10:51 AM

David, you couldn't be more right. Newt is responsible for Clinton's second term and should get off the stage before he embarrasses himself any further.

At treasury, we need a man of sterling character who is charismatic, good looking, articulate and a brilliant thinker and who's obviously been eating a lot of chocolate, to dazzle the media. Name of James Glassman.

Posted by: erp at May 26, 2006 11:02 AM

Good salesmen needn't be decent guys. Treasury needs a qualified huckster & he is one.

Posted by: oj at May 26, 2006 11:45 AM


As long as that huckster can talk a good game on the economy and our bonds. I'm not so sure Newt can be trusted with that sort of huckster talk.

Posted by: Brad S at May 26, 2006 12:50 PM

I was going to say that Newt is an intellectual, but as we're reliving the Reagan Administration this week: Newt would be David Stockman. He's a loose cannon who hates to play second banana, to mix my metaphors.

Posted by: David Cohen at May 26, 2006 1:00 PM

Sometimes the monkeys deserve a banana.

Posted by: oj at May 26, 2006 1:05 PM


The press would cover him, which would help get the message out, even if he did muddy it on occassion.

Posted by: oj at May 26, 2006 1:07 PM

Newt Gingrich in 1994: "FIRST, require all laws that apply to the rest of the country also apply equally to the Congress." (Contract with America)

Newt Gingrich today: "[The search of William Jefferson's office] was the most blatant violation of the Constitutional Separation of Powers in my lifetime.. whoever exhibited this extraordinary violation should be disciplined."

I give up. I'm staying home in November.

Posted by: Gideon at May 26, 2006 1:20 PM

Now, Gideon. Don't stay home on Nov. 7 just because Bush likes to use all the tools in the shed. Seems to me that Newt realizes the true purpose behind the raid, and is freaking out accordingly. He being at least somewhat in league with the Tancredo bunch.

Posted by: Brad S at May 26, 2006 2:18 PM

Brad S - true purpose behind the raid?

Posted by: AWW at May 26, 2006 3:16 PM

The true purpose? To force the media to cover the wrong doing on the left side of the aisle.

Posted by: erp at May 26, 2006 3:34 PM

Too easy to demonize. Remember Time magazine putting him on the cover in a Scrooge outfit?

Posted by: Matt Murphy at May 26, 2006 7:24 PM