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From the Washington Post:

The White House named Henry Paulson, Chief Executive Officer of Goldman Sachs, as the new Treasury Secretary this morning to replace John W. Snow.

President Bush made the announcement at 9:15 this morning from the Rose Garden.

Snow informed the White House last week that he wouldl resign after three years as the nation's chief economic officer. The secretary's decision was intended to bring finality to a process that has played out awkwardly in public over months as Snow's job security has been a regular source of Washington speculation.

The new appointee would be Bush's third treasury secretary. Paul H. O'Neill, his first, left in December, 2002.

It looks like Lloyd Blankfein will take over as Goldman's new CEO. Here's a Business Week profile of Blankfein.

Wall Street Folly finds Blankfein's 1983 wedding announcement.

Posted by edelfenbein at May 30, 2006 9:28 AM