Treasury Secretary Snow Resigns; Bush to Nominate Successor

reasury Secretary John Snow has resigned and President Bush plans to nominate Goldman Sachs Chairman Henry Paulson as his replacement, news reports said Tuesday.

Snow, the former chief executive officer of freight rail line CSX Corp., became Treasury Secretary in February 2003 following the forced exit of Paul O’Neill, Bloomberg reported.

Paulson is the latest Goldman Sachs executive to come to Washington government; White House Chief of Staff Joshua Bolten worked at the firm in Europe and Robert Rubin, for-mer President Clinton’s longest-serving Treasury chief, was a former co-chairman of the investment bank, Bloomberg reported.