Paul H. O'Neill

O'Neill served as secretary of the treasury for the first two years of George W. Bush's presidency, a period when the economy was in the midst of a sharp slowdown. In Dec. 2002, Bush called for O'Neill's resignation, citing the need for a more effective spokesman for the administration's economic policies. The plain-spoken O'Neill was not always enthusiastic in supporting Bush's most cherished economic principle, that tax cuts are the answer to stimulating the economy. Before becoming treasury secretary, O'Neill served as chairman of aluminum giant Alcoa. O'Neill also served under Presidents Nixon, Ford, Reagan, and Bush.