Greenspan ‘rejected’ offer to become US Treasury chief: FT

[oldhat]

http://news.ft.com/cms/s/352e01f2-4f01-11d9-9488-00000e2511c8.html

Greenspan ‘rejected’ offer to become US Treasury chief
By Andrew Balls in Washington

Senior Republicans sounded out Alan Greenspan, chairman of the Federal Reserve, about taking over from John Snow as US Treasury secretary, the Financial Times has learnt.

The informal approach, which would have put the most respected economic leader in the US in charge of President George W. Bush's ambitious second-term domestic agenda, was declined.

The administration's plans to overhaul Social Security and reform the tax system face a stern challenge on Capitol Hill and scepticism in some quarters on Wall Street.

The approach to Mr Greenspan made at arm's length from the White House reflected concern that Mr Snow was not the most effective champion of Mr Bush's agenda.

In a separate effort to strengthen its economic team by bringing in a Fed policymaker, Ben Bernanke, an influential Fed governor, is the leading candidate to replace Greg Mankiw as chairman of the White House Economic Advisers.

The White House yesterday refused to comment on what it called “speculation” regarding Mr Greenspan.

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[teryang]

1. I don't respect him

As pointed out on the locked thread he flipflopped on tax cuts for the rich and ended up endorsing chimps insane tax policy. He is responsible for the credit explosion and government deficits. He's a venal POS.

[Vidar]

2. In related story, Greenspan refused to captain the Titanic &

Exxon Valdez.