Third Time's the Charm? Not Really: Another Treasury Nominee Bails Out

A third Treasury Department nominee has dropped out of the process, according to ABC News:

Democratic sources say that H. Rodgin Cohen, a partner in the New York law firm Sullivan & Cromwell LLP, and the leading candidate for Deputy Treasury Secretary, has withdrawn from consideration.

It's the third withdrawal of a top Treasury Department staff pick in less than a week. I reported last week that Cohen was likely to be officially nominated for the Deputy Treasury Secretary position.

Cohen has been a counsel to just about every major player on Wall Street, which perhaps complicated his nomination.

Now, the nomination is off.

I imagine scoring a job at the Treasury Department is losing some its past luster. Just think of the job description: "Extremely long hours, enormous public pressure to succeed, deep uncertainty regarding the potential success of your endeavors, but failure to accomplish your goals would cause a global economic collapse."