Bush's second Treasury chief also a dud (CBS.MarketWatch)

[Grins]

That's the title of Paul Erdman's column today at CBS.MarketWatch.com

<http://cbs.marketwatch.com/news/story.asp?siteid=mktw&dist=nwham&guid=%7B53C9C182%2DFC6C%2D4198%2D9E24%2D162651E72989%7D>

It's a very short column, but here are some of his comments. You can almost imaging him shouting.

"I don't know how George W. goes about picking his secretaries of the Treasury, but I do know that he has come up with two duds in a row. The new one, John Snow, is even worse the first one, whose name I have already forgotten.

"Here we have the Secretary of the Treasury of the United States who is going to have to borrow a half-trillion dollars a year to cover this nation's deficit, plus a whole lot more to refinance the enormous debt that's outstanding, telling us he will be "frustrated and concerned if long-term interest rates do not rise."

"Did anybody tell him that if he gets his wish, the additional interest cost on new government borrowings could be staggering?

"Did anybody tell him that mortgage rates would soon rise to a level sufficient to undermine the strength of housing sector, which has been the strongest pillar holding up the economy during the past couple of years?

"This is a guy who should be fired right away"...

[jenk]

1. Snowjob is doing china white

and that's a fact

[gratuitous]

2. Mr. Erdman? You get fired when you displease the boss

The fact that Snow still has his job should tell you something. He's calling for a hike in long-term interest rates because Lil George's buddies hold government paper, and they need a bigger return on their investment in America's debt and misery.

[0007]

3. Paul O'Neill was a classic

But this Snow guy is beyond being classic, just love the way he rolls those eyes.

Isn't it obvious that this administration doesn't want anyone too sharp?

[ComerPerro]

4. When will people realize

That maybe the problem is with Bush.