If you were John Snow, would you stay knowing that you were at best the President’s second choice?
Do DC’s conservative activists really value tax cuts more than financial stability? And does their opinion matter so much that the White House would let them blackball credible Wall Street names?
Does the Bush White House want a strong, independent, credible Treasury? At least we know the answer to that question: No.
A Treasury truly is a terrible thing to waste. This Administration needs a Robert Rubin. Real economic and financial risks loom on the horizon. But it keeps demonstrating that it does not really want a Robert Rubin.
Allen Sinai gets it exactly right: "My perception is this administration doesn’t really want a highly creative, independent Treasury secretary who will lead policy ... so it seems to me Secretary Snow is effective at doing his job."
Mike Allen and Jonathan Weisman of the Washington Post delivered on this story.