Tuesday, May 30, 2006
What a Bizarre Situation
Treasury Secretary John Snow has wanted to be shut of the Bush cabinet almost as long as he’s been in it. He was appointed in February 2003 and we’ve been hearing he was unhappy since March of 2003. Departure rumors have been going the rounds since 2005.
The Bush administration wanted to get rid of Snow the worst way…that is to say, they wanted to set his ass on fire and kick it to kingdom come. But they couldn’t boot him out until they had a replacement. And no one wanted the job.
So Snow stayed and he stayed and he stayed. John J. Mack, the chief exec. at Morgan Stanley, was courted, as was Time Warner chairman Richard Parsons. The last bride to be wooed was Chairman and CEO of Merrill Lynch, Stanley O’Neal. They all said No before it was made public that they had been asked.
So, Snow wanted to go, and the White House wanted him to go but he had to stay until some sucker said Yes.
The White House kept coming back to Goldman Sachs CEO Henry M. Paulson, Jr., but Paulson was coy, he wouldn't say Yes and he wouldn't say No. God only knows what added inducements they kept laying at his feet.
The dead give-away that the White House very soon would be able to open the door and shove John Snow out was when Bush answered a question about Snow at the Blair/Bush Follies and he said, “No, he has not talked to me about resignation. I think he's doing a fine job.”
The White House Kiss of Death: You’re doing a fine job…kiss-kiss. (Sotto voce) You’re nothing to me now…you’re not a friend…I don't want to know you or what you do…I don't want to see you…I don't want you near my house…when you see people I know, I want to know a day in advance so I won't be there. You understand? (Aloud and with a smile) He’s doing a helluva job.
The announcement finally came today. John Snow has resigned and Henry M. Paulson, Jr. has been nominated for the post of Secretary of the Treasury.
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