Thursday, March 12, 2009

Another one! - Third Top Treasury Pick Withdraws From Consideration

This news came out after the close of the stock market today. Let's see how the market reacts tomorrow. I predict a drop of about 200 points. The market is very nervous about the Obama Administration and their Treasury Department, or the lack thereof.

from ABC News
by George Stephanopoulos (Obama lap dog)
March 12, 2009 2:31 PM

Democratic sources say that H. Rodgin Cohen, a partner in the New York law firm Sullivan & Cromwell LLP, and the leading candidate for Deputy Treasury Secretary, has withdrawn from consideration.

It's the third withdrawal of a top Treasury Department staff pick in less than a week. I reported last week that Cohen was likely to be officially nominated for the Deputy Treasury Secretary position.

Cohen has been a counsel to just about every major player on Wall Street, which perhaps complicated his nomination.

Now, the nomination is off.

Democratic sources said that an issue arose in the final stages of the vetting process.
Click to go to the article

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