Phil Gramm for Treasury?

The Prowler reports that the White House is taking a close look at former Texas senator Phil Gramm as a possible replacement for John Snow:

While most of President Bush's Cabinet performed well out on the campaign trail, one secretary did not: Treasury Secretary John Snow. The former CEO was considered an important advocate for the Bush Administration's tax and economic policy, but was often caught flubbing things up, particularly in the closing weeks of the campaign in states like Ohio and Pennsylvania.

Gramm has been quietly campaigning for the job . . . .

Gramm flopped as a presidential candidate, but he left the Senate of his own accord and could play a crucial role, the Prowler speculates, in pushing through Bush's tax reforms and efforts to partially privatize Social Security.

Update: The WSJ's Political Diary, which is free today, speculates on Gramm's chances. One correction for John Fund: Gamm hails from Texas by way of Georgia, his home state. Fund reports that "One White House aide tells me his colleagues worry that Mr. Gramm's background and Texas drawl might even further cement the public perception that the Bush administration wants little to do with the Northeast." Drawling's serious business; know your sources.