Word: goldmans
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...program, which includes eliminating the levy on corporate dividends, he dispatched his new economics chief, Stephen Friedman, to New York City to wave it under the noses of such bankers as UBS America chairman Donald Marron and brokerage legend Muriel Siebert. Friedman is a polished pinstriper, a former Goldman Sachs chairman with the kind of Street cred the Administration lacked before purging its economic team last month. In four meetings, Friedman did as much listening as talking, knowing enough not to insult his former brethren with a lecture. And the financiers loved the message. Of course, it could have been...
...Treasury. As his national economic adviser Bush chose Larry Lindsey, an economist and former Fed governor who was so suspicious of the markets that he refused to invest his own money in them. O'Neill and Lindsey are now gone, and in Lindsey's place is former Goldman Sachs co-chairman Steve Friedman, the kind of Wall Street sharpie Bush once loathed...
...White House is looking for at least one new member of its economic team who can speak the language of the financial markets and calm them when necessary. "The model is Bob Rubin," said a White House insider of the Goldman, Sachs co-chairman, who headed the National Economic Council (NEC) and then the Treasury Department during the Clinton Administration. Bush advisers say Stephen Friedman, who co-chaired Goldman at Rubin's side, is being courted heavily for the NEC job. But candidates for other spots on the economic team have also been sought among nonfinancial companies. Though Bush recognizes...
...only new appointee who seems to hold any promise is Stephen Friedman, who is to become Bush’s top economic adviser. Although at first glance he may seem like another investment banker, having co-chaired Goldman Sachs in the early 1990s, Friedman does advocate hard-line fiscal discipline and thus will hopefully oppose some of the more aggressive tax cuts that Bush is proposing. On the other hand, this policy leaves little room for proactive social spending that is needed in a weak economy...
...Then there's Stephen Friedman, the former head of Goldman Sachs. Widely considered a shoo-in to replace Lindsay, his appointment hit a snag this week while the White House worked through a slew of undisclosed "personal and professional issues." When President Bush formally named Friedman to replace Lindsay Thursday afternoon, it was only after days of speculation that Friedman's reputation for deficit phobia - he served as a director of the Concord Coalition, a bipartisan group whose members oppose federal budget deficits - might have caught up with him. The White House maintained throughout the delay that they were only...