Reliable sources indicate that the Treasury Department is not, in fact, quite as understaffed as the total lack of subcabinet officials would suggest. A bunch of people are more-or-less in place, working in the building, as “counselors” while the vetter scrub their tax records. But today we get our first official nominees:
Today, President Obama announced his intent to nominate the following individuals for key posts at the Treasury Department: David S. Cohen, Assistant Secretary of Treasury, Terrorist Financing; Alan B. Krueger, Assistant Secretary of Treasury, Economic Policy; and Kim N. Wallace, Assistant Secretary of Treasury, Legislative Affairs. Each of the nominees is currently serving as a Counselor to the Secretary of Treasury.
This is good. It’s important to have official nominees in place because even though “counselors” can do a lot, they can’t represent the department on official business or speak with authority in interagency discussions.
Meanwhile, this still leaves what I would consider to be the three most important positions—Deputy Secretary, Undersecretary for Financial Institutions, and Undersecretary for International Affairs—vacant.