“the bush administration took a lot of pride that homeownership had reached historic highs, but what we forgot in the process was that it has to be done in the context of people being able to afford their house. we now realize there was a high cost.”~~former treasury secretary john w. snow being quoted in the ny times.
from 2003 - 2006, snow served as the 73rd secretary of the u.s. treasury. before that appointment he worked in the reagan white house, having earned a ph.d. in economics from the university of virginia. currently he's serving as chairman of cerberus capital management, which among other things, owns 80% of chrysler.
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