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WASHINGTON -- U.S. Treasury Secretary Lloyd Bentsen is expected to resign soon, administration sources said Monday.
The sources, who declined to be identified, said Bentsen, 73, has apparently been toying with the idea for months. His resignation would be a major blow to the Clinton administration as it struggles to cope with the incoming Republican-controlled Congress.
Chief Treasury spokeswoman Joan Loque Kinder denied that Bentsen had submitted a resignation letter to the White House, but sidestepped the question of whether he planned to step down soon. "There has not been any resolution," she said.
Administration sources said President Bill Clinton's chief economic adviser and former Wall Street executive Robert Rubin is considered the leading candidate to replace Bentsen.
As a former lawmaker with an acknowledged ability to work with the rival Republican Party, Bentsen would have been a valuable asset for the administration in its dealings with the new Republican-controlled Congress.
Bentsen cut short his career in the Senate to join the administration in 1993. His term would have expired at the end of this year.
Bentsen's Resignation Imminent
06 December 1994
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