9 December 2002, 10:25  US Treasury Secretary O'Neill resigns

US Treasury Secretary, Paul O'Neill, is to resign from his position in the Bush administration. It is reported that the resignation was made at the request of the White House. Larry Lindsey, the Senior White House Economic Advisor, is also stepping down. The surprise resignation of the Treasury Secretary will take place in the "next few weeks," according to a Treasury spokesperson.
"It has been a privilege to serve the nation during these challenging times," O'Neill said in a letter to President George Bush. "I wish you every success as you provide leadership and inspiration for America and the world." Sixty seven-year-old O'Neill was president of International Paper from 1985 to 1987 and held the chief executive and chairman's post at Alcoa until taking up his post under President Bush in 2000. He received a bachelor's degree in Economics from Fresno State College in California, and a master's degree in Public Administration from Indiana University. //www.fxcentre.com

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