C. Eugene Steuerle The nonpartisan Urban Institute publishes studies, reports, and books on timely topics worthy of public consideration. The views expressed are those of the authors and should not be attributed to the Urban Institute, its trustees, or its funders.
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When President Bush announced his appointment of Henry Paulson of Goldman Sachs as Treasury secretary, the press quickly popped the obvious question to former Treasury officials like me: "Why would he want to be secretary, especially this late in a president's tenure?"
Ideally, anyone who takes this job primarily wants to serve the public — not oneself, however ambitious. Not even the president, although he's the boss. Certainly not a political party, although a political alliance may make or break the secretary's run. The American people are the secretary's stockholders — the ones who pay his salary and ultimately bear the brunt of his actions.
Serving the public means thinking long-term, transcending the petty or personal conflicts that so often dominate politics.
Note: This report is available in its entirety in the Portable Document Format (PDF).
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