Whether it's McCain or Obama, Henry Paulson won't be staying on at Treasury

We don't even have official presidential nominees yet, but there has already been speculation that whoever ends up in the Oval Office will ask two Cabinet secretaries who are dealing with particularly sensitive issues — Treasury Secretary Henry M. Paulson Jr. (the mortgage/credit crises) and Defense Secretary Robert M. Gates (Iraq and Afghanistan) — to stay on in the new administration, at least for a little while.

Gates was asked about that during a news conference in June and responded: "The circumstances under which I would do that are inconceivable to me." Still, as The Times reported that month, national security advisors for both Barack Obama and John McCain strongly support the idea of Gates remaining in charge at the Pentagon, and Gates himself has asked his senior civilian advisors to be prepared to stick around.

Paulson's turn to discuss the issue came during an interview with NBC's Tom Brokaw taped Saturday in Beijing, where the Treasury secretary and his family are on vacation, and broadcast this morning on "Meet the Press":

BROKAW: I know you had a conversation recently with the Democratic candidate for president, Barack Obama — we presume he'll be the nominee. There's been a lot of speculation that you may stay on, whoever's elected president, as Treasury secretary, because you're midstream in some profound changes. Would you like to stay on?

PAULSON: No, Tom, I wouldn't. I'm, I'm, I, I care a lot about this country. I'm going to run right up until the end. I'm very, very focused on doing the right thing for the United States of America. And whoever the next candidate is, whether it's John McCain or Barack Obama — the next president is — I will do everything I can to make for a smooth transition, to work closely with my successor in Treasury to do everything I can to help out. But I'm, I'm, I'm focused on getting everything done I can get done between now and January 19th.

BROKAW: That's a firm denial that you would be interested in extending?

PAULSON: Yeah. It couldn't be any firmer. I, I've — you know, when I came down to Washington, people said to me, "How could you want to do something for just two and a half years?" And I said, "Two and a half years sounds like a long time to me, and I'm going to — I, I'm going to define my job expansively. I'm going to do everything I can to step up to any problems that, that are going to face the country." But again, I, I look forward to doing other things, you know, next year.

— Leslie Hoffecker

Photo: Henry M. Paulson Jr. Credit: Natalie Behring/Getty Images

Comments

[Ron]

He won't be staying on.....? that's the best news I've heard to date. I guess he will quit before Obama fires him.

[dave]

he sure seems desperate to get out of there.

[Pete]

Ron,
If you think he's scared Obama will fire him, you are extremely naive. Obama and McCain would do anything they could to keep him...as he is experienced at spin and scheming. But nothing will keep him, as even rats will flee a sinking ship.

Americans need to wake up. If any of you are deluded by this two party system, and think one is different from the other (and of course that the one you like is good and the other is responsible for all of our troubles), you need to wake up! They are both two fingers on the same hand. I'm sure they get together and have a great laugh about the die-hard Repubs and die-hard Dems who spend their lives pointing the finger at other slaves instead of the guilty...who sit rich and smug on the top of the pyramid.

Find me one member of Congress or the Senate, of either party, that is not rich! Wake up!

[Dora]

Don't let the door hit him on the way out and take Pelosi, Obama, Dodd, and Barney Frank with him. Why Gingrich was an angel compared to those four.
Hillary Fan

Member Since: Sep. 5, 2008

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#1846Sep. 28, 2008 - 6:00 PM EST
Subject:

AIG Bailout : Goes for 700.Bill dollar bail out also, only Americans over 18 would even get a lot more.

I'm against the 85, 000 000 000 bailout of AIG

Instead , I'm in favor of giving 85,000 000 000 to Americ in a "We deserve It Divident"

To make the math simple, let's assume there are 200,000 000 bonafide U.S. Citizens 18years old +

Our population is about 300.000 000 +/ counting every man, woman and child.

So divide 200 000 000 18+ into 85,Billion that would equal 425,000 to every American.

Of course we don't want anything tax free so we would give back the government 30%, so every individual pays back the government 127, 500 dollars. But it means that every adult 18+ has 297,500 dollars in their pockets . Husband and wifes

have 595,000 in their pockets.

You could pay off your mortgage , housing crisis solved. Repay college loans-what a great boost for new grads.

Put away money for your childresn college.

Buy new car.which creates jobs.

Invest in the market= that means capital growth

Enables Deadbeat Dad's to come clean.

Remember this is for every adult U.S. Citizen 18+including the folks that lost their jobs from these fat cats and won't get it back

whether you bail out or not.

And of course our Armed Forces

If we are doing a 700 Billion bail out let's bail out every U. S., Adult over 18+

As for AIG and all other fat cats , liquidate it.

Sell of it's parts

Let the private center bargain hunters cut it up and clean it up.

We Americans deserve it. We been screwed enough.

We deserve the dividents more than then do the Geniuses in AIG, Fannie, Freddy Lehman and especially in the Senate.

and Remember with a 700 Billion dollar bail out there will even be more for every american family and more taxes back to the government and more buying power for cars, furniture, and homes.

So dont agree for Obamas , McCaine and all fat cat's bail outs. This bail out is just giving a free blank check to the rich , and they Washington will turn around and put a debt of 10 000 dollar and more on every American , and collecting it by cutting SS

by cutting Medicare, by cutting jobs, by increasing taxes , by cutting programs. Don't get fooled by Obama and McCaine, like you got fooled with Bush's blank Iraqi check. Tell your senator we want the money , and vote out every senator congressman and house of representative that agreed on this bail out. Let the privat sector do its work. and let the fat cats money flow back into the market if they don't want to be unemployed for a change......

[Concerned]

Dora your math is wrong. 85 billion = 85,000,000,000

I think your using 85 trillion = 85,000,000,000,000

If we split the 85 billion into 200 million 18+ americans it will give us $425

If we split the 700 billion (700,000,000,000) into 200 million 18+ americans it will give us $3,500.

[Pam]

What does it take to evict Paulson & Bernanke now!!!