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To: Return to Sender who wrote (3101)12/6/2002 10:59:03 AM
From: Sam Citron  Read Replies (1) | Respond to of 13403
 
OT Dick Armey for Treasury Secretary <g>

O'Neill, Lindsey resign
By Richard Tomkins and Peter Roff
From the Washington Politics & Policy Desk
Published 12/6/2002 10:25 AM

WASHINGTON, Dec. 6 (UPI) -- Treasury Secretary Paul O'Neill and White House economic adviser Larry Lindsey resigned Friday, the White House said.

Both men reportedly resigned at the request of the White House.

O'Neill becomes the first Cabinet member in the Bush administration to resign.

O'Neill, was head of the industrial giant Alcoa when Bush tapped him to be his administration's first treasury secretary, largely because of his close relations to Vice President Dick Cheney and Federal Reserve Chairman Alan Greenspan.

Lindsey is a prominent supply-side economist who was appointed a Federal Reserve governor by the current president's father. He also played an important advisory role in President George W. Bush's 2000 presidential campaign.

Both men have been the focus of criticism from the GOP pro-growth wing for some time. Calls for O'Neill's resignation have built steadily almost from the beginning.

Early speculation as to their replacements is mute but names frequently mentioned in the past include retiring House Majority Leader Dick Armey of Texas, former Texas GOP Sen. Phil Gramm and magazine publisher Steve Forbes --all favorites of the GOP's pro-growth wing.

upi.com