May 30, 2006


Bush taps Paulson for Treasury Secretary (TERENCE HUNT, 5/30/06, AP)

Treasury Secretary John Snow resigned Tuesday and President Bush nominated Goldman Sachs chief executive officer Henry M. Paulson Jr. as his replacement — another chapter in the shake-up to revive Bush's troubled presidency. [...]

Robert Rubin, one of Paulson's predecessors, served as Treasury secretary in the Clinton administration, and Jon Corzine, another Goldman Sachs chairman, served as a U.S. senator from New Jersey and is now governor of that state.

The Senate Finance Committee is expected to act swiftly on the nomination. A spokeswoman for the panel said it was possible a hearing could be conducted within the next few weeks, depending on how quickly the necessary paperwork for the nomination is supplied to the panel.

Sen. Chuck Schumer, D-N.Y., a member of the Senate Finance Committee, gave Paulson his backing after talking to him Tuesday.

"His experience, intelligence and deep understanding of national and global economic issues make him the best pick America could have hoped for," Schumer said.

Posted by Orrin Judd at May 30, 2006 10:58 AM

If Schumer is happy then NRO et al will be unhappy.

Posted by: AWW at May 30, 2006 11:22 AM

I'm glad we've got them to be unhappy for us. All that being unhappy about every little thing could be very draining for everyone but those highly trained professionals.

Posted by: Jay at May 30, 2006 11:37 AM

If Schumer is happy, should we start worrying?

Posted by: erp at May 30, 2006 11:55 AM

Kudlow, who is definitely a glass half full type, is ok with this pick.

Posted by: AWW at May 30, 2006 1:32 PM
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