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To: Les H who wrote (10447)	5/14/2004 8:41:26 AM
From: Les H	Respond to of 29601

Greenspan Reappointment The Wall Street Journal says that Wall Street is antsy over the failure of the Bush White House to forward Greenspan's reappointment to the Senate. It is certainly the case that back in 1992 the then-Bush White House did play what White House Counsel C. Boyden Grey called "silly, pointless game" with Greenspan's reappointment in an attempt to put pressure on him to shave interest rates. So Wall Street's suspicions are not unmotivated: WSJ.com - Photos Stymie Bush P.R. Staff: Wall Street wonders why Greenspan hasn't been reappointed. But that mystifies White House. It stands by Bush's statement a year ago that the 17-year veteran deserves a new term once his Fed chairmanship expires June 20. Bush has time: In 2000, senators confirmed Greenspan in just 10 days. Still, investors speculate he's stalling on Greenspan to "lean on him over hiking rates so close to the election," says Tom Gallagher at ISI Group. If still unconfirmed by June 20, Greenspan would remain chairman unless someone else is picked. If reappointed, he'd likely quit the Fed in 2006 when his separate, nonrenewable term as a Fed governor expires. j-bradford-delong.net