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Bolten wants Snow replaced at U.S. Treasury

Joshua Bolten, the incoming White House chief of staff, wants Treasury Secretary John Snow replaced with someone who can present the administration's message more forcefully, The New York Times reported Thursday.
/ Source: Reuters

Joshua Bolten, the incoming White House chief of staff, wants Treasury Secretary John Snow replaced with someone who can present the administration's message more forcefully, The New York Times reported Thursday.

Bolten, who takes over the top staff job next month, wants President Bush to shake up his economic team and overhaul White House management, the Times said, quoting a prominent Republican who consults with the White House.

Among the names being mentioned to replace Snow were Henry Paulson, chief executive of Goldman Sachs; John Mack, chief executive of Morgan Stanley, and Richard Parsons, chairman of Time Warner, the newspaper said.

The Times quoted Republicans as saying if a new secretary was picked from Wall Street, it would help reassure financial markets that are worried about growing budget and trade deficits.

On Wednesday, White House spokesman Scott McClellan said Bush believes Snow is doing a good job.

Asked whether the president was still confident in Snow and whether he would continue to serve in the future, McClellan responded: "I never speculate on personnel matters, but the president appreciates the great job that Secretary Snow is doing, he is an important member of our economic team."