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To: IngotWeTrust who wrote (91632)	12/5/2002 10:02:11 PM
From: long-gone	Respond to of 116815

<<Please don't use me as a foil for attacking ABX or Bob.>> wasn't,just using then as segway to today

To: IngotWeTrust who wrote (91632)	12/9/2002 6:53:41 AM
From: long-gone	Respond to of 116815

Here's the word, Were they allowed to run with their own head Snow would be a plus for gold Stephen Friedman a negative(though Rubin was against selling US gold). IMO at least Friedman has a slightly mroe Republican leaning & with it perhaps better understanding of this administration's desire to allow the market to set values not manipulations. No matter what, we can bet these guys are better team players than Were the ones they replace.: Reuters Bush Expected to Tap CSX Chairman for Treasury Monday December 9, 1:42 am ET By Adam Entous WASHINGTON (Reuters) - President Bush is expected on Monday to nominate CSX Corp. Chairman John Snow to serve as Treasury secretary, launching an ambitious drive to pump up the economy before his 2004 re-election campaign, sources familiar with the decision said. ADVERTISEMENT Stephen Friedman, who served as co-chairman of Goldman Sachs with former Treasury Secretary Robert Rubin, will be named to head up the White House National Economic Council, rounding out Bush's new economic team. The decision comes three days after Bush abruptly forced out top White House economic adviser Lawrence Lindsey and Treasury Secretary Paul O'Neill in what has been dubbed "the Friday morning massacre." A formal announcement is expected on Monday but could be delayed pending completion of extensive background checks. Snow, 63, is chairman, president and chief executive of Virginia-based CSX, the biggest rail operator in the eastern United States. An economist and a lawyer, Snow's Washington experience dates back to the Ford administration, when he served stints as assistant secretary and general counsel at the Transportation Department. A native of Toledo, Ohio, Snow taught economics at the University of Virginia and served as chairman of the influential Business Roundtable, which represents many of the nation's largest corporations in Washington. But Snow has also been outspoken on the need for corporate responsibility following scandals at Enron Corp. and other major U.S. corporations. As co-chairman of a Conference Board blue-ribbon commission on corporate governance, Snow has argued for widespread reforms in the way executive compensation is determined. "These egregious failures evidence a clear breach of the basic contract that underlies corporate capitalism," Snow said earlier this year. The White House would neither confirm nor deny Bush's decision to appoint Snow. The administration is taking particular care doing background checks, hoping to avoid the type of scandals that ripped through the Securities and Exchange Commission in recent months, leading to Chairman Harvey Pitt's resignation. TIES TO BUSINESS Strong ties to business and a deft touch with the investment community were top qualifications for the new Treasury secretary, and Snow appears to meet that test. While O'Neill had an unblemished record as the chairman and chief executive of aluminum giant Alcoa Inc. from 1987 to 1999, his relationship with Wall Street was an awkward one. The White House has also made clear it expects the next Treasury chief to be a tax-cutting advocate who, unlike O'Neill, will enthusiastically market the administration's stimulus package to Congress and the American people. The White House has been discussing with lobbyists and lawmakers an economic stimulus package that could total as much as $300 billion over three years, sources said. Though the White House had no comment on Friedman, the choice is already winning praise from Republicans and some Democrats, including Sen. Jon Corzine of New Jersey, himself a former chief of Goldman Sachs. "I think Steve Friedman's a very capable man. He is intellectually disciplined about how he approaches problems," Corzine said on Sunday. Wall Street would be relieved if Friedman brings the same degree of magic to the job that Robert Rubin, his long-time associate from Goldman, Sachs, did to the Treasury. Rubin, the Treasury secretary under President Bill Clinton, was seen by investors as having set the gold standard for the qualities they admire in a top economic official -- a calm, unruffled manner and keen understanding of financial markets. Friedman worked with Rubin for 20 years at Goldman and they co-chaired the venerable Wall Street firm during the early 1990s. A major donor to the Republican campaign, Friedman is currently a senior principal at Marsh & McLennan Capital Inc. and a limited partner of Goldman. ((Washington Newsroom, 202-898-8300, fax 202-898-8383to biz.yahoo.com Stephen Friedman Stephen Friedman is the former Chairman and Senior Partner of Goldman Sachs. He joined our Board of Directors in 2002. From 1987, Steve worked closely in executive leadership of the firm with Bob Rubin, first as Vice Chairmen and Co-Chief Operating Officers and then as Senior Partners and Co-Chairmen of the Management Committee, until Bob joined the Clinton Administration in 1992. Steve continued as sole Senior Partner and Chairman until his retirement in 1994. Earlier assignments at Goldman Sachs included co-head of the Investment Banking and Fixed Income Divisions and head of the Mergers and Acquisitions Department. He became a partner in 1973 and joined the Management Committee in 1982. In addition to his role as Senior Principal of MMC Capital, Steve currently serves as a director of Wal-Mart Stores, Inc. and Fannie Mae. He is also a member of the President's Foreign Intelligence Advisory Board and is Chairman Emeritus of Columbia University. gs.com