1. Most Discussed
  2. Gainers & Losers

</b>us in turmoil- top economic advisor & treasury

  1. tophat

    1,256 Posts.

    Treasury's O'Neill Quits in Surprise Move
    Fri December 6, 2002 10:09 AM ET

    WASHINGTON (Reuters) - U.S. Treasury Secretary Paul O'Neill on Friday abruptly announced his resignation, ending a two-year tenure marred by public gaffes and criticisms of his ability to be the U.S. economy's chief spokesman.
    An administration official said O'Neill's resignation had come at the request of the White House, which has been considering a major shakeup in its economic team.

    "It has been a privilege to serve the Nation during these challenging times. I thank you for that opportunity," O'Neill said in a brief letter to President Bush.

    Treasury spokeswoman Michele Davis told reporters that the resignation would become effective "in the next few weeks," adding that O'Neill had informed senior Treasury staffers of his decision on Friday morning.

    "As he told senior staff this morning, there are lots of other important things to do in life. Back in December of 2000, he was planning to retire and devote himself to improving health care and education in Pittsburgh. I'm sure he will return to those important projects," she said.

    "He told the senior staff he appreciated their support, wisdom and energy and he encouraged them to remain focused and true to their sworn responsibilities," she said.

    O'Neill was sworn in as the 72nd U.S. Treasury Secretary on Jan. 20, 2001. While his often direct style of speaking raised eyebrows in Washington, he was also often seen as refreshingly candid. But this style sometimes roiled financial markets and upset foreign governments.

DISCLAIMER:
Before making any financial decisions based on what you read, always consult an advisor or expert.

The HotCopper website is operated by Report Card Pty Ltd. Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, you should before acting on the information or advice, consider the appropriateness of the information or advice in relation to your objectives, financial situation or needs. Please be aware that any information posted on this site should not be considered to be financial product advice.

From time to time comments aimed at manipulating other investors may appear on these forums. Posters may post overly optimistic or pessimistic comments on particular stocks, in an attempt to influence other investors. It is not possible for management to moderate all posts so some misleading and inaccurate posts may still appear on these forums. If you do have serious concerns with a post or posts you should report a Terms of Use Violation (TOU) on the link above. Unless specifically stated persons posting on this site are NOT investment advisors and do NOT hold the necessary licence, or have any formal training, to give investment advice.

Top

Thank you for visiting HotCopper

We have detected that you are running ad blocking software.


HotCopper relies on revenue generated from advertisers. Kindly disable your ad blocking software to return to the HotCopper website.

I understand, I have disabled my ad blocker. Let me in!

Need help? Click here for support.