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Replacing Paulson: Candidates' Treasury Contenders, Serious and Otherwise

Posted Oct 21, 2008 01:19pm EDT by Aaron Task in Newsmakers, Recession

With Hank Paulson making it clear he's not long for the job any many critics declaring "good riddance," it's high time to start speculating about who the next Treasury Secretary may be.

In the accompanying video, Henry and I discuss the likely candidates for either a President Obama or McCain -- based on statements from the candidates and/or various press reports, and on the assumption Warren Buffett isn't available to either.

Obama's presumed "short list" includes:

  • Former Fed chairman Paul Volcker (immensely credible but too old, too tough).
  • Former Treasury Secretary Larry Summers (qualified, but unpopular with ladies who do math).
  • JPMorgan CEO Jamie Dimon (is America ready for another former Wall Street chieftain at Treasury?).
  • NY Fed President Timothy Geithner (probably the smartest pick, given the circumstance).

McCain's reported candidates include:

  • Former Deputy Secretary of State and World Bank president Robert Zoellick (well qualified).
  • Former Senator Phil Gramm (too much of a whiner and too closely associated with deregulation, given the circumstance).
  • NY Mayor Michael Bloomberg (a good choice but seems pretty intent to keep his current job, possibly forever).

In keeping to his "maverick" persona, McCain is also believed to be considering some curious choices like current and former tech CEOs Meg Whitman, Carly Fiorina, Steve Ballmer and John Chambers, and -- like his VP pick -- probably a few others not on the radar as yet.

147 Comments

William
William - Tuesday October 21, 2008 01:37PM EDT

kathie gifford..i like

Richard
Richard - Tuesday October 21, 2008 01:37PM EDT

Please, No one from Wall Street or the Federal Reserve. They have done enough damage already.

Yahoo! Finance User
Yahoo! Finance User - Tuesday October 21, 2008 01:39PM EDT

Silver Surfer... Who do you think it should be sir?

- Tuesday October 21, 2008 01:40PM EDT

James Dimon will rob and pillage and plunder America just he like he did with so many banks already, Washington Mutual being his latest victim. Warren Buffet is the head crook of all. He is the big daddy without whose blessings, nothing moves on Wall Street. I don't know about the record of others. But as long as we have people like Shela Bair (FDIC) or James Dimon (JPM), we are screwed for good.

Yahoo! Finance User
Yahoo! Finance User - Tuesday October 21, 2008 01:42PM EDT

How about FDIC pres Sheila Behr?

Dixie M
Dixie M - Tuesday October 21, 2008 01:43PM EDT

The fact that Phil Gramm is on the list would keep me from voting for McCain. How stupid can you get.

david
david - Tuesday October 21, 2008 01:49PM EDT

I nominate Jim Cramer

ChrisR
ChrisR - Tuesday October 21, 2008 01:52PM EDT

Jamie Dimon or Chuck Norris

Al
Al - Tuesday October 21, 2008 01:52PM EDT

my best bet would be Tim Geithner for Obama and Mike Bloomberg for Mc Cain

Marty
Marty - Tuesday October 21, 2008 01:52PM EDT

Stan O'Neal anyone? He's got credibility.

Yahoo! Finance User
Yahoo! Finance User - Tuesday October 21, 2008 01:53PM EDT

"Women can't do math" hahaha. I remember that.

georgeg
georgeg - Tuesday October 21, 2008 01:54PM EDT

Whoever it is I hope understands that treating the public like Mushrooms will not work... Housing Housing Housing.... We took over Fannie Mae what are they doing there. If we are going to let values contiune to fall for no rreason other than to see the botton at 0 dollars. All of uur houses are worth nothing if we dont hit a bottom. Is is not the Job of the Gov. to create a bottom. They regulate housing and banking... lets have some type of bottom. SHould I give bank my home to the bank or cash retirement to hold on?????

Yahoo! Finance User
Yahoo! Finance User - Tuesday October 21, 2008 01:58PM EDT

How about Ebenezer Scrooge or better yet Scrooge McDuck

Videobarbs
Videobarbs - Tuesday October 21, 2008 02:06PM EDT

I vote for Andrea Mitchell. She'll give new meaning to "pillow talk" with her aged husband, A. Greenspan still calling the shots.

- Tuesday October 21, 2008 02:08PM EDT

A big blonde bimbo like Paulson!

Yahoo! Finance User
Yahoo! Finance User - Tuesday October 21, 2008 02:09PM EDT

Henry Blodget, it's time for you to volunteer for public service.

Steven
Steven - Tuesday October 21, 2008 02:09PM EDT

If McCain wins there is no constitutional reason why the Vice President, Palin, could not also be Secretary of Treasury and she is better qualified to be Secretary of the Treasury than Vice President. She did a wonderful job increasing the debt of Wasilla AK, she has experience managing a snow mobile business, has a personal bank account, has been inside a bank, is protected from witchcraft (i.e. Speaker of the House Polosi) and if all else fails believes in Rapture and understands that the end of it all is a Good Thing Guys & Gals!

Wayne
Wayne - Tuesday October 21, 2008 02:09PM EDT

How about Elliot Spitzer? So he has some weaknesses in the nether areas, we didn't toss Bill for that, and he'd probably kick some Wall Street and Fed butt!

Ronald
Ronald - Tuesday October 21, 2008 02:10PM EDT

If McCain gets elected, as a Republican he will definitely give the job to one of the Republican cronies. He will do exactly the same as "Bush" did in hiring "qualified" people! How did that work out for us? Does the word "Titanic" ring a bell?

Zarxo
Zarxo - Tuesday October 21, 2008 02:10PM EDT

-give me an ugly accountant who will not be distracted and one who is happily married or happily single. I want a geeky smart ugly man or woman who everyone is scared of and not liked.

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