Bush Nominates New Treasury Secretary

US President George Bush has nominated Henry M Paulson Jr. who is chief executive officer of a well known financial firm called "Goldman Sachs" to be the next Treasury Secretary. After 3 years John Snow has resigned as Treasury Secretary in yet another shake up of the white house staff. Other recent white house staff changes include Joshua Bolten becoming the new chief of staff, followed by President Bush forcing out CIA chief Porter Goss, then next to go was political adviser Karl Rove and the press secretary Scott McClellan was replaced by Tony Snow.

All of these staff changes are an effort to revive Bush's presidency and popularity after facing his lowest approval ratings since he took office. Mr Paulson seems to be well qualified for the job has received praise and approval from many.

Goldman CEO Replaces John Snow
"Treasury Secretary John Snow resigned Tuesday and U.S. President George Bush nominated Goldman Sachs chief executive officer Henry M. Paulson Jr. as his replacement — another chapter in the shake-up to revive Bush's troubled presidency.

"He has a lifetime of business experience. He has intimate knowledge of financial markets and an ability to explain economic issues in clear terms," President Bush said of Mr. Paulson in a Rose Garden announcement".
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# Political News