Snow out; Paulson in.

In a move that has been widely expected for some time, Treasury Secretary John Snow has resigned, and Bush has nominated the chairman of prominent financial firm Goldman Sachs, Henry Paulson, as his replacement.

This won't be Paulson's first stint with the government. He was a Pentagon aide during part of the Vietnam War, serving as staff assistant to the Assistant Secretary of Defense, and later worked as part of Nixon's White House Domestic Council as assistant to John Erlichman, who was a key Watergate figure, convicted of conspiracy, obstruction of justice, and perjury. When the administration for which he working began to crumble under the weight of scandal, he headed off to a job at Goldman Sachs in 1974.

And now comes his grand return to government—in the middle of a foreign war from which its architects can't seem to extricate us, and for an administration plagued with scandal, including figures indicted on charges that, well, certainly ought to seem familiar.

Apparently, Paulson is best suited for Treasury Secretary mostly because there's no Secretary of Full Circles.

(Crossposted at AlterNet PEEK.)

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