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Who Should/Will Be Next Treasury Secretary?

Posted by Larry Doyle on November 13, 2012 2:30 PM |

With the fiscal cliff staring us straight in the face and a host of other fiscal issues continuing  to haunt our domestic and global economies, the pressure on our next Secretary of Treasury will be significant. Who is up to the task? Whom would you like to see fill this enormous role?

American Banker presents this question today and puts forth the following candidates: 

1. Jacob Lew, White House Chief of Staff
2. Larry Fink, CEO of BlackRock
3. Gary Gensler, chairman of the Commodity Futures Trading Commission
4. Sheila Bair, former FDIC chair
5. Michael Bloomberg, Mayor of New York City
6. Mitt Romney
7. Erskine Bowles, chair of the Bowles-Simpson Commission
8. Eliot Spitzer, former Governor and Attorney General of New York

I am surprised that JP Morgan CEO Jamie Dimon’s name is not on this list. Recall also that former New Hampshire Senator Judd Gregg withdrew his name as Secretary of Commerce in the first Obama administration. Would he be a dark horse?

Whom do you think Obama should pick? Whom do you think he will pick? Whom else would you propose as a qualified candidate for this exceptionally important position?

I hear Lew’s name referenced often as a strong candidate but is he anywhere close to being qualified? Bowles would likely gather support given his work on the bipartisan commission to address our deficit. Fink would command the respect of the markets and our trading partners. The others mentioned strike me as either unqualified or unlikely to gain the favor of the administration.

My instincts tell me The King of Wall Street, Larry Fink, will be our next Treasury Secretary.

What do you think?

Larry Doyle

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I have no affiliation or business interest with any entity referenced in this commentary. The opinions expressed are my own. I am a proponent of real transparency within our markets so that investor confidence and investor protection can be achieved.

  • Andrew

    Ron Paul

  • Peter Sivere

    Spitzer to the SEC…

  • Hawk

    Same clowns, different circus.

    MR is not a realistic choice as he would likely over shadow the Simian.

    Jack Lew…..the boob was part of the failed drowning of Boehner last year.
    Fink…..inside trader and part of the Rape TARP crowd according to “Bailout” by Barofsky
    Gensler…..gun and mask guy at CFTC
    Bair…..meglomaniacal field hockey coach
    Bloomberg…..I’ve Got Mine RINO
    Bowles……..hmmmmmmn maybe?
    Spitzer………whore master? in the Eccles Bldng? WTF?

    TWO WORDS

    PAUL RYAN

  • Vince

    From your lips to God’s ears!

  • Jay

    Fink . . . And like Kennedy in the 30s, it will not be as positive for the more nefarious part of Wall St as they think…

  • Virginia

    Lew, Bair or Spitzer… The job really needs a prosecutor personality – so that these white collar crime antics don’t keep sliding over the tops of the heads of people who can’t perceive corruption – let alone project it.

    As America other half would see this:

    1. Jacob Lew, White House Chief of Staff
    2. Larry Fink, CEO of BlackRock – NO – obvious reasons including appearances of impropriety
    3. Gary Gensler, chairman of the Commodity Futures Trading Commission – NO – too closely related to LIBOR
    4. Sheila Bair, former FDIC chair
    5. Michael Bloomberg, Mayor of New York City – NO – again a major appearance of impropriety
    6. Mitt Romney – NO – oh pleeeze
    7. Erskine Bowles, chair of the Bowles-Simpson Commission – NO – he’d continue to bury everything, he’s a debt hawk that want to keep the gravy train growing.
    8. Eliot Spitzer, former Governor and Attorney General of New York

  • Eddie

    Are there any more choices?

  • Mark J. Novitsky

    I nominate Paul Craig Roberts. Elizabeth Warren already has a job. And the OTHER big question. WHO SHOULD REPLACE ERIC HOLDER / DOJ?

  • Andrew

    If I could make a serious choice, Jim Grant would be my man.






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