The Administration Naive? Inexperienced? It Works For Frank Newman

When Bank of America CFO Frank N. Newman got a call in December, 1992, urging him to leave San Francisco to become Treasury Under Secretary for Domestic Finance, he considered the credits and debits. "I'd have to leave a company where I enjoyed working and knew all the people and go to a place where I didn't know anyone, where it was highly political, where it was hot in the summer and cold in the winter, and take a 90% pay cut," he recalls. "I said, `Sure.' Is temporary insanity a legitimate plea at this point?"

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