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No Objections Raised as Paulson Is Confirmed

Liberty Matters News Service

June 29, 2006

Just hours after the Senate Finance Committee approved the nomination of Henry Paulson, Goldman Sachs CEO, as the next Treasury Secretary, the full Senate confirmed him, on voice vote, with no objections.

Paulson received kid-glove treatment from committee members who apparently were unconcerned about his belief in human-caused "global warming" and his support of the U. S. Kyoto Treaty that would require a reduction in the use of fossil fuels crippling the American economy.

Detractors fear he will use his position to further his environmental agenda with taxpayer-funded favors to The Nature Conservancy. "Paulson is extremely weak on property rights...He has basically used corporate assets to pursue his personal interests," said Steven Milloy, Free Enterprise Action Fund portfolio manager.

Wall Street Journal's David Wessel wrote: "...given [Paulson's] record in using Goldman's power and money toward environmental ends, he just might use his clout to push the administration toward dealing with climate change or even…considering an energy tax."

But his role as Chairman of The Nature Conservancy, which an in-depth investigative report by the Washington Post revealed has a history of questionable deals, should have raised the concern of at least one Senator. But then, Mr. Smith doesn't go to Washington anymore.

Related Story

U.S. Senate confirms Paulson for U.S. Treasury

WASHINGTON, June 28 (Reuters) - The U.S. Senate on Wednesday voted to confirm Goldman Sachs Chairman Henry Paulson as Treasury secretary, succeeding John Snow.

Snow said last month that he was stepping down after nearly 3-1/2 years at the helm of Treasury. Paulson is a highly regarded Wall Street financier who was courted by the White House to take over the Treasury.

Paulson's nomination faced virtually no opposition as it sped through a Senate Finance Committee nomination on Tuesday and was handily cleared by the full Senate.

© Reuters 2006. All rights reserved



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