Curtains for Lloyd
MR CLARICE'S opposite number in Wash' ington is already on his way out. Lloy.d Bentsen's decision to seek new opportuni- ties in Central Casting will deprive the United States Treasury of an imposing 11.5' urehead. I would rather have a Secretary of the Treasury. At home Mr Bentsen let the Whitewater get into the Treasury's works and stop them. The effect was that the Fed- eral Reserve was left to make the running and, for all its efforts, is still trying to catch up with the economy. To a wider world, Mr Bentsen was most remarked for his COW flicting signals on the dollar. A Secreta7 ought in principle to be on his curreneY.s side. If not, he does best to keep quiet. It hard to convince markets that (as Nixon s hapless spokesman put it) previous state- ments are now inoperative. His successor, Robert Rubin, learned about them in the hard school of Goldman Sachs. He cari Bentsen.
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