Senior Republicans sounded out Alan Greenspan, chairman of the Federal Reserve, about taking over from John Snow as US Treasury secretary, the Financial Times has learnt.
The informal approach, which would have put the most respected economic leader in the US in charge of President George W. Bush’s ambitious second-term domestic agenda, was declined.
The administration’s plans to overhaul Social Security and reform the tax system face a stern challenge on Capitol Hill and scepticism in some quarters on Wall Street.
The approach to Mr Greenspan made at arm’s length from the White House reflected concern that Mr Snow was not the most effective champion of Mr Bush’s agenda.
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