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Henry M. Paulson, Jr. To Be New Treasury Secretary

Henry M. Paulson, Jr.

President Bush has selected Henry M. Paulson to head up the Treasury Department.

"The selection of Mr. Paulson, chairman and chief executive of Goldman Sachs, is a significant departure from Mr. Bush's initial reluctance to bring prominent Wall Street executives into his administration. And it was a rare break from Mr. Bush's tendency to select his most senior aides from within an inner circle of trusted advisers."

Paulson replaces John W. Snow, who had been criticized for not trumpeting the Bush economy sufficiently, and for not pressing China to revalue its currency.

Press Secretary Tony Snow refused to confirm speculation that John Snow had been forced out, as part of Chief of Staff Joshua Bolten's ongoing personnel shakeups.

Joshua Bolten, like Paulson, had worked for Goldman Sachs.

Posted by Ken McCracken · 30 May 2006 07:10 PM

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