McPherson Aiding Iraq?

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Michigan State University President Peter McPherson will aid in the reconstruction of Iraq.

He's being tapped as the government's point person on financial matters related to rebuilding Iraq.

Peter Magrath, president of the National Association of State Universities and Land Grant Colleges, says McPherson told him during a brief telephone conversation that he was taking the Iraq job.

An anonymous government source says it isn't immediately clear if McPherson will take a leave of absence from Michigan State. University spokesman Terry Denbow isn't commenting.

McPherson served as the second-highest Treasury Department official in the Reagan administration. He's served as president of Michigan State since 1993.

The Treasury Department is working to come up with ways to revive Iraq's devastated economy. They want to revive that nation's banking system, adopt a new currency and transforming Iraq's financial institutions to a free-market economy.