Will the new Treasury Secretary make a difference?

The John Snow Death Watch is over: President George W. Bush on Tuesday named Hank Paulson as his new treasury secretary, pending approval from the Senate. Mr Paulson has been the chairman and chief executive of Goldman Sachs Group since 1999, having joined the firm in 1974. He replaces John Snow, who held the job ...

By , a professor of international politics at the Fletcher School of Law and Diplomacy at Tufts University and co-host of the Space the Nation podcast.

The John Snow Death Watch is over: President George W. Bush on Tuesday named Hank Paulson as his new treasury secretary, pending approval from the Senate. Mr Paulson has been the chairman and chief executive of Goldman Sachs Group since 1999, having joined the firm in 1974. He replaces John Snow, who held the job for three years and was long been rumoured to be stepping down. The choice of the CEO came as a surprise and the dollar was mixed early Tuesday in New York on the news. [In contrast NPR reported that the markets were responding pretty well--DD.] Mr Bush praised his choice as having ?a lifetime of business experience?? and ?an intimate knowledge of securities markets.? Greg Mankiw takes the opportunity to have some fun at Daniel Gross' expense. Gross, in a classy move, acknowledges that, "contrary to the argument I made in April, Bush has been able to find a Class A Wall Street type willing to take the job." Question to readers: will Paulson hae a seat at the policymaking table, or is he merely going to be a much better salesman than Snow?

The John Snow Death Watch is over:

President George W. Bush on Tuesday named Hank Paulson as his new treasury secretary, pending approval from the Senate. Mr Paulson has been the chairman and chief executive of Goldman Sachs Group since 1999, having joined the firm in 1974. He replaces John Snow, who held the job for three years and was long been rumoured to be stepping down. The choice of the CEO came as a surprise and the dollar was mixed early Tuesday in New York on the news. [In contrast NPR reported that the markets were responding pretty well–DD.] Mr Bush praised his choice as having ?a lifetime of business experience?? and ?an intimate knowledge of securities markets.?

Greg Mankiw takes the opportunity to have some fun at Daniel Gross’ expense. Gross, in a classy move, acknowledges that, “contrary to the argument I made in April, Bush has been able to find a Class A Wall Street type willing to take the job.” Question to readers: will Paulson hae a seat at the policymaking table, or is he merely going to be a much better salesman than Snow?

Daniel W. Drezner is a professor of international politics at the Fletcher School of Law and Diplomacy at Tufts University and co-host of the Space the Nation podcast. Twitter: @dandrezner

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