Tres. Sec. O'Neill was obviously the wrong guy for the job, a CEO of a rust belt old economy company whose big qualification apparently was that he was in the Ford administration with Cheney. So they replace him with...a CEO of a rust belt old economy company whose big qualification was that he was in the Ford administration with Cheney. Obviously, the market is underwhelmed, perhaps because this appointment signals more tax breaks for big companies and nothing for traders/investors. The sad thing is there were candidates out there who could have made an impact, retiring Sen. Gramm for one and Chuck Schwab for another. Ex-Rep. Dick Armey would have also been a good choice. I read somewhere not to expect much from any of these vacancies because the same people who picked O'Neill and Pitt would be doing the choosing again. Too true.