Whether or not you agree with their policies or politics, the men who served as Treasury Secretary under Bill Clinton were both qualified and competent. Lloyd Bensten, Robert Rubin, and Lawrence Summers all had more than a seat at the table, in many cases, they were able to convince Clinton to do things that were unpopular and extremely politically risky when circumstances warranted.
The same certainly can not be said about Paul O'Neill and John Snow, the two men to hold the job under George W. Bush. O'Neill lasted less than two years on the job, ultimately shown the door for the high crime of voicing his policy opinions on issues such as tax cuts and the projected cost of the war in Iraq. You know, the kinds of subjects in which a Treasury Secretary might have some expertise. Bush, Vice President Dick Cheney, and advisor Karl Rove wanted O'Neill to be little more than a parrot, repeating platitudes he heard in staff meetings with the weight of a Cabinet seat. (Plenty of proof here for the doubters.)
When railroad executive John Snow replaced O'Neill, he worked very hard to prove that he had learned the lessons his predecessor had not: do not try to set policy, simply relay the message emanating from the White House. Despite staying almost completely on message, rumors of Snow's sacking have been circulating almost from day one, as he never quite became the "Crazy Eddie"-style salesman that the administration was looking for.
And now, after more than three years of holding the title of Treasury Secretary absent the position's power or influence, Snow has either signaled or been shown the signal that it's time to move on. Who's going to replace Snow? It looks like cronyism will win out once again:
President Bush is leaning toward having one of his oldest friends take over the Treasury Department after a fruitless effort thus far to woo a star from Wall Street.
Republicans with close ties to the White House said on Friday that Donald L. Evans, the former commerce secretary and a longtime Texas friend of the president, was a leading contender to succeed John W. Snow...
Why can't they woo a Wall Street heavyweight? Because economic policy, like every other Bush policy, is run out of Rove's political shop. When everything begins and ends with supply-side tax cuts, there is very little room left for honest debate and first-hand knowledge.
Administration allies said that senior officials had made overtures to prominent executives on Wall Street, including Henry M. Paulson Jr., the chairman of Goldman Sachs. White House strategists had been hoping to appoint a big name from the finance world that could help promote positive news on the economy that is being overshadowed by high gasoline prices and a generalized anxiety about the country's direction.
But Mr. Paulson and other executives expressed little interest in taking the post, in part because neither Mr. Snow nor his predecessor, Paul H. O'Neill, had any substantial role in shaping economic policy.
The real power to set priorities, whether it was cutting taxes in 2001 and 2003 or the failed effort to overhaul Social Security in 2005, has always been held by a small circle of advisers in the White House, including Vice President Dick Cheney.
As always, we're left with the same system that brought us Mike Brown at FEMA, loyalty and the old boy's club over substance and competence.
Comments
palacemuse
Phoenix, AZ
March 2005
MAY 27, 2006 12:32 PM
jake_lex
Lexington, KY
February 2003
MAY 27, 2006 12:40 PM
politicalsuicide
I'm lost
May 2006
MAY 27, 2006 12:52 PM
Aaron
Shakopee, MN
July 2004
MAY 27, 2006 02:49 PM
joker_
Minneapolis, MN
October 2005
MAY 27, 2006 06:37 PM
TheFuckOffKid
NEWSWIRE
Australia
MAY 27, 2006 06:41 PM
Subnatural
Milwaukee, WI
June 2004
MAY 27, 2006 08:08 PM