Bush savaged by former Treasury chief

Financial Times.com ^ | January 9 2004 21:47 | | Alan Beattie

[cricket]

President George W. Bush's performance at cabinet meetings resembled that of "a blind man in a room full of deaf people", according to Paul O'Neill (pictured), who was fired as Treasury secretary in 2002.

The remarkable personal attack is made by Mr O'Neill in a forthcoming book, according to excerpts from a television interview to be broadcast on Sunday.

In the CBS Sixty Minutes interview Mr O'Neill, the former chief executive of the aluminium company Alcoa, says there was little constructive dialogue between officials and the president.

Speaking about his first meeting with Mr Bush, which lasted about an hour, Mr O'Neill says: "I went in with a long list of things to talk about and, I thought, to engage [him] on.

"I was surprised it turned out me talking and the president just listening . . . It was mostly a monologue."

The interview, one of the first with Mr O'Neill about his time in the administration, prefigures the publication on Tuesday of The Price of Loyalty, a book about the Bu sh White House by the journalist Ron Suskind.

The book is based on interviews with Mr O'Neill and other White House officials as well as documents provided by Mr O'Neill.

Scott McClellan, the White House spokesman, on Friday declined to comment on the book or the interview, telling reporters "I don't do book reviews".

Mr O'Neill was forced to resign as Treasury secretary in December 2002 after he declined to give full-hearted support for a new round of tax cuts, in a clear-out that also saw the dismissal of Larry Lindsey, the president's chief economic adviser.

Unlike Mr Lindsey, who took his dismissal with public good grace, Mr O'Neill immediately stormed out of the Treasury to return to his home in Pittsburgh, Pennsylvania.

During his tenure as Treasury secretary, Mr O'Neill became well-known for speaking out frequently and frankly on a range of subjects including the dollar, the limited value of International Monetary Fund crisis lending and the problems with development aid.

His comments frequently had an impact on financial markets, with one remark about the low likelihood of an IMF rescue package for Brazil causing a rapid fall in the Brazilian currency.

The IMF subsequently announced a $30bn bail-out that succeeded in stabilising the Brazilian economy.

In the television interview, Mr O'Neill also reportedly sheds light on key policy discussions within the Bush administration, including the scale of tax cuts and what action to take against the Iraqi regime of Saddam Hussein.

[cricket]

I hope President Bush has by now, lost his naivete when it comes to picking his friends. Too late smart on Mr. O'Neil, however.

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[BCrago66]

Every couple months, someone new pops up accusing President Bush of being a 'tard, yet somehow, President Bush seems to be beating all his opponents in advancing all the elements of a bold agenda.

[Texas Eagle]

The interview, one of the first with Mr O'Neill about his time in the administration, prefigures the publication on Tuesday of The Price of Loyalty, a book about the Bu sh White House by the journalist Ron Suskind.

The Price of Loyalty? What the hell? What loyalty?

[olliemb]

Mr.Oneill was not Mr. Bush's friend. You must have Paul Oneill confused with President Bush's friend Mr Oneill from Midland.

Paul Oneill after his combative disagreement with Senator Byrd let everyone know he was not well balanced. This book is pure pettiness and payback for being fired.

[Miss Marple]

O'Neill was recommended by Cheney. Cheney had worked with him years ago, and had followed his career. Apparently no one did a personality check.

[Redbird Craig]

Has Mr. O'Neill made any notice of the economy picking up since he and his halfhearted support of tax cuts packed up and left town? It seems like the classic case of sour grapes to me. You're in the big leagues in Washington politics, and Mr. O'Neill seems upset that he got sent back to the minors.

[BCrago66]

O'Neil was the CEO of Alcoa Corporation, which is pretty big leage.

[Tim Osman]

President Bush seems to be beating all his opponents in advancing all the elements of a bold agenda.

Yeah, the Democrat agenda.

As for Mr. O'Neil, he's obviously a man of impeccable fashion sense...

[hummingbird]

Is this the same O'Neill that traveled to Africa with Bono?

[hummingbird]

Thanks, T.O...

[AngrySpud]

" ... and the President just listening ... "

What conceit. O'Neil thought his comments so profound, so stimulating, so original, that Bush ought to have jumped out of his chair, engaged in policy wonkery and started making decisions right then and there.

A President listens, and digests, and compares comments with those of others. In a FIRST MEETING with someone new, it's wise for a President to study the man.

[hummingbird]

A President listens, and digests, and compares comments with those of others. In a FIRST MEETING with someone new, it's wise for a President to study the man.

That's what I was thinking, too...what a Clymer...too stupid to realize what was even going on. The president didn't need to hear himself talk!

[vpintheak]

Sour grapes

[daler]

So he's pi**ed off at his former boss and CBS is more than glad to give him a soap box.

Remember how willing the major networks were to be a billboard for the countless (credible) allegations leveled against Clinton?

Yeah, right. Even a (credible) RAPE allegation was spiked, and it was left to Matt Drudge to bring the Lewinsky scandal to light.

Look for much more of this in an election year.

[No Truce With Kings]

"a blind man in a room full of deaf people"

Man, I have not heard so profound a metaphor since . . . oh, when "Rosanne Rosanna Danna was on Saturday Night Live. If you try and parse its meaning you only get two things out of it:

1. O'Neil is full of himself.
2. He's more interested in generating pseudo-profound soundbites than ensuring that his sound bites *mean* anything.

Ah well . . . it's not as if he needs to be taken seriously. Except by himself.

[Tim Osman]

No problem :)

That's also the same guy who made THIS blasphemous statement:

"able-bodied adults should save enough on a regular basis so that they can provide for their own retirement and for that matter for their health and medical needs."

Blasphemy! He also wanted to abolish corporate income tax, capital gains taxes, and slash and/or reduce both Medicare AND Social Security.

[sgtbono2002]

Mr O Neil claims Mr. Bush just sat and listened to him about his job as Treasury Secretary and yet he claims to be privy to secret talks about ousting Saddam?? Why would GWB talk to this clown from the treasury , about his plans to oust Saddam?

[meenie]

Evans, the head of Commerce was the friend from Midland. O'niell was the CEO of Alcoa.

[cricket]

"The Price of Loyalty? What the hell? What loyalty?"

None whatsoever. . .I am wondering what will be the response from this from 'the White House'. . .