John William Snow ; born August 2, 1939 , Toledo , Ohio , USA ) is an American economist and statesman. Former US Treasury Secretary . He was appointed to this post in early 2003 by US President George W. Bush , who promised to halve government debt. Several years after his appointment, Snow came into conflict with the Bush administration over its economic policies. In the spring of 2006 he was dismissed.
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| The president | George Bush | ||||||
| Predecessor | Paul Henry O'Neill | ||||||
| Successor | Henry Paulson | ||||||
| Birth | August 2, 1939 (aged 80) Toledo , Ohio , USA | ||||||
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Biography
John Snow was born on August 2, 1939 in Toledo, Ohio. In 1962 he graduated from Toledo University , then - University of Virginia , where two Nobel laureates were its leaders, and became a candidate of economic sciences. In 1967, Snow graduated from George Washington University Law School. He then taught economics at the University of Virginia, Maryland , and also law at George Washington University [1] .
In 1972-1976 he worked at the US Department of Transportation , holding the posts of Assistant for Government Relations, Deputy Assistant for Rules, Planning and International Relations, Deputy Deputy Minister (Deputy Undersecretary), Administrator of the National Highway Traffic Safety Administration [1] .
Since 1977, Vice President, since 1985 President of CSX Corporation . This corporation is one of the largest US transportation companies. It owns a network of railways, port terminals, provides comprehensive transport services with the delivery of goods to more than 70 countries. In the nearly 20 years that CSX led Snow, the financial performance of the corporation has improved significantly [1] .
In 1992, Snow was elected co-chair of the National Commission on Financial Institution Reform, Recovery and Regulation ( National Commission on Financial Institution Reform, Recovery and Enforcement ). This commission was engaged in developing recommendations after the financial crisis in the United States, which affected the savings and loans of citizens [1] .
From 1994 to 1996, Snow headed the Business Roundtable , an organization uniting the heads of 250 major American companies. In this capacity, he supported the adoption of the North American Free Trade Agreement [1] .
On January 13, 2003, US President George W. Bush proposed Snow as the head of the Treasury Department. On January 30, 2003, the US Senate unanimously approved the proposal, and on February 3, 2003, Snow became US Treasury Secretary [1] .
Snow entered into an open conflict with Bush at the end of 2005, when he once again began to call on the Senate to increase the borrowing ceiling. The need for new borrowed funds in the spring of 2006 provoked sharp criticism of congressmen who attributed it to the ineffective economic policy of the US president [2] .
In April 2006, media reported that Snow was ready to resign as soon as Bush found a replacement for him. The appearance of these reports is associated with the appointment by Bush of a new chief of government apparatus [3] . Snow soon resigned, Henry Paulson became his successor as US Treasury Secretary [4] .
Notes
- ↑ 1 2 3 4 5 6 John W. Snow . The White House Website (February 3, 2003). Archived December 10, 2012.
- ↑ Congress Is Asked to Raise Debt Limit . The Washington Post (December 30, 2005). Archived December 10, 2012.
- ↑ Elisabeth Bumiller. Treasury Secretary Is Said to Be Thinking of Quitting . The New York Times (April 5, 2006). Archived December 10, 2012.
- ↑ President Bush Nominates Henry Paulson as Treasury Secretary . The White House (May 30, 2006). Archived December 10, 2012.
Links
- When writing this article, we used material ( text in Wikisource ) from Lentapedia , available under a Creative Commons BY-SA 3.0 Unported license .