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Speculations rife as Bush team goes for complete rehaul
Washington, Dec 09: A new team of top Bush administration economic officials to replace dismissed treasury secretary Paul O`neill and White House adviser Lawrence Lindsey will be named as early as today as more treasury officials prepare to leave.
Washington, Dec 09: A new team of top Bush administration economic officials to replace dismissed treasury secretary Paul O'neill and White House adviser Lawrence Lindsey will be named as early as today as more treasury officials prepare to leave.
Kenneth Dam, a deputy treasury secretary who worked closely with O'neill in both the corporate and political worlds, also will depart soon, Republican sources said yesterday.
Quick action to plug holes left by abrupt resignations on Friday of O'neill and Lindsey -- at request of the White House -- reflected determination to get a new, more supportive cast of officials in place as the Bush administration prepares a stimulus package for a stuttering economy.
Former Goldman Sachs chairman Stephen Friedman is likely to be tapped for Lindsey's job, Republican sources said.
But on Sunday, the name of the new treasury chief remained tightly guarded, possibly because of the need for final security and other checks that could put a hitch in a Monday announcement.
There was speculation that Don Evans, the President's friend and the current commerce secretary, could be picked for the treasury's top job. He has indicated he wants it, according to Republican sources.
The shopping list includes other names such as Gerald Parsky, a California financier and lawyer former Rep. Bill Archer of Texas, the former chairman of the House Ways and Means Committee, and discount brokerage founder Charles Schwab, among others.
Late on Sunday, administration sources indicated Parsky was unlikely to be the choice and other sources said the job was not likely to go to Evans despite his closeness to Bush.
Evans spent at least part of the weekend with President George W. Bush at the secluded Camp David, Maryland, Retreat where sources said final discussions were being held about economic team replacements. He flew back to Washington with Bush on the Presidential helicopter.
Strong ties to business and a more deft touch with the investment community were certain to be top qualifications for the new treasury secretary. While O'neill had an unblemished record as the chairman and chief executive of aluminum giant Alcoa Inc. From 1987 to 1999, his relationship with Wall Street was an awkward one.
With national unemployment ticking up to 6 percent in November, President Bush clearly was mindful that his own re-election chances in 2004 could depend upon establishing a record of growth well before the start of that campaign.
Bureau Report
Kenneth Dam, a deputy treasury secretary who worked closely with O'neill in both the corporate and political worlds, also will depart soon, Republican sources said yesterday.
Quick action to plug holes left by abrupt resignations on Friday of O'neill and Lindsey -- at request of the White House -- reflected determination to get a new, more supportive cast of officials in place as the Bush administration prepares a stimulus package for a stuttering economy.
Former Goldman Sachs chairman Stephen Friedman is likely to be tapped for Lindsey's job, Republican sources said.
But on Sunday, the name of the new treasury chief remained tightly guarded, possibly because of the need for final security and other checks that could put a hitch in a Monday announcement.
There was speculation that Don Evans, the President's friend and the current commerce secretary, could be picked for the treasury's top job. He has indicated he wants it, according to Republican sources.
The shopping list includes other names such as Gerald Parsky, a California financier and lawyer former Rep. Bill Archer of Texas, the former chairman of the House Ways and Means Committee, and discount brokerage founder Charles Schwab, among others.
Late on Sunday, administration sources indicated Parsky was unlikely to be the choice and other sources said the job was not likely to go to Evans despite his closeness to Bush.
Evans spent at least part of the weekend with President George W. Bush at the secluded Camp David, Maryland, Retreat where sources said final discussions were being held about economic team replacements. He flew back to Washington with Bush on the Presidential helicopter.
Strong ties to business and a more deft touch with the investment community were certain to be top qualifications for the new treasury secretary. While O'neill had an unblemished record as the chairman and chief executive of aluminum giant Alcoa Inc. From 1987 to 1999, his relationship with Wall Street was an awkward one.
With national unemployment ticking up to 6 percent in November, President Bush clearly was mindful that his own re-election chances in 2004 could depend upon establishing a record of growth well before the start of that campaign.
Bureau Report