WASHINGTON, May 30 (Xinhua) -- U.S. Treasury Secretary John Snow resigned Tuesday and U.S. President George W. Bush nominated Goldman Sachs Chairman Henry M. Paulson Jr. as his replacement.

    "He has a lifetime of business experience ... and an ability to explain economic issues in clear terms," Bush said of Paulson in a Rose Garden announcement.

    Bush praised Snow for showing "strong leadership" at the Treasury. Enditem