Thursday, November 06, 2008

Top contenders for U.S. Treasury Secretary

CNBC does some pondering on who may be the next Secretary of the Treasury under President Obama.

Here is my own list of top contenders:
  • Tim Geithner, President of the Federal Reserve Bank of New York; believed to be a Democrat.
  • Jon Corzine, Democratic Governor of New Jersey, former U.S. Senator, and former CEO of Goldman Sachs.
  • Jamie Dimon, widely-respected CEO of JPMorgan; a financial contributor to many Democratic candidates.
  • Larry Summers, Harvard economist, former President of Harvard University, and former U.S. Treasury Secretary under Bill Clinton.
  • Paul Volcker, the best Fed Chairman in history; Alan Greenspan's predecessor; appointed under Carter and reappointed under Reagan. He's the guy who ended the stagflation of the 1970s. Being a decade older than John McCain, his biggest obstacle is his age.


  1. All are incorrect. Easy choice
    Greg Mankiw. That would be a great choice with a Harvard and youth connection.

  2. Perhaps McCain would have chosen Mankiw, a Republican, but Obama is unlikely to.

  3. Volcker or Sumners

  4. I don't think Obama is unlikely to pick him because he is a repub. It is widely thought that he will have at least one repub in a visible cabinet seat just to show bipartisanship goodwill.

  5. Tim Geithner:

    HAWTNESS!! Oh yea, since he has been at the FED, he has expressed a "generic" concern about Wall Street casino-leveraging and the lack of regulation to curtail it. Like many on the FED, he's somewhat of a deficit hawk, which is good, but what does that even mean anymore? He has always been tough on China (as possible; remember they own us!)

    I know, some people blasted him for assisting with the Paulson &Co "hurry-up bailout" of Bear Sterns/Morgan Stanley - widely panned as a costly "piece-meal" solution to a global problem. But, really, he who HASN'T opened the US FED Reserve "window" to be pilfered by a private corporation weeks before it becomes insolvent, cast the first stone. Right?

    So, WIN!

  6. Based on what he's written on his blog over the years, I bet Greg Mankiw would recommend his Harvard colleague, Larry Summers.