Grandstanding: McCain mentions Buffett as pick for treasury secretary
In an interview with Reuters, Senator John McCain mentioned Warren Buffett and former eBay (NASDAQ: EBAY) CEO Meg Whitman as possible choices to succeed Hank Paulson as Treasury secretary: "I think it would be someone that Americans would recognize that would inspire trust and confidence. There's people like (Cisco chief executive) John Chambers, there's people like Meg Whitman, there's people like Warren Buffett."
That certainly would be interesting as, in addition to being the greatest financial mind in the world ever, Buffett is also a hardcore Democrat and a supporter of Senator Barack Obama.
It's also almost inconceivable that Buffett would leave Omaha and Berkshire Hathaway (NYSE: BRK.A) to go wrestle pigs in Washington. Buffett's pledge of substantially all of his fortune to the William and Melinda Gates Foundation demonstrates his commitment to charity and improving the world but there is nothing in Buffett's history to indicate he would want to spend his days devoted to matters of public policy: he enjoys investing.
So why would McCain bring it up? He probably just wants to look more competent and open-minded on matters of economic policy -- and name-dropping Buffett is easy because he knows nothing will ever come of it.
That certainly would be interesting as, in addition to being the greatest financial mind in the world ever, Buffett is also a hardcore Democrat and a supporter of Senator Barack Obama.
It's also almost inconceivable that Buffett would leave Omaha and Berkshire Hathaway (NYSE: BRK.A) to go wrestle pigs in Washington. Buffett's pledge of substantially all of his fortune to the William and Melinda Gates Foundation demonstrates his commitment to charity and improving the world but there is nothing in Buffett's history to indicate he would want to spend his days devoted to matters of public policy: he enjoys investing.
So why would McCain bring it up? He probably just wants to look more competent and open-minded on matters of economic policy -- and name-dropping Buffett is easy because he knows nothing will ever come of it.











Reader Comments (Page 1 of 1)
10-03-2008 @ 4:02PM
Reuben said...
Not condemning you, but do you always blotch your blog with your opinion?
10-03-2008 @ 4:21PM
Jerry said...
I got news for McCain. Warren Buffett is a true American and Patriot and he is so moral that he believe in the trick up theory NOT the trickle down theory. He believes in returning all tax money to the people abd not to the corporations ! He DOES NOT beleive in McCain/Bush's philosophy of take from the workers and give to the rich !
10-03-2008 @ 4:49PM
ARJAY61 said...
McCain is trying to make it appear that he would appoint competent people after the Vice President selection fiasco.
Buffett is certainly smart;thats why he's not backing McCain.
10-03-2008 @ 4:57PM
Iridium said...
Please god no. What we need in a treasury secretary is someone who hasn't made billions playing the system. I do not want to see another CEO who helped run America into the ground while pocketing millions.
We need someone who will step in a kick ass on Wall Street and clean up the total mess that has been made over the past 20 years.
I can't think of a worse person than Buffet. I'm sure he'll do a lot to curtail runaway greed. More and more I get the feeling that McCain is a NWO kind of guy.
I can just see it now. Buffet with trillions at his fingertips. I'm sure before he dies Buffet wants to go down as the worlds first trillionare. Buffet is far from a financial genious. He is just good at playing th esystem and influencing stock prices with his fortune.
Building a company through making a product, then selling it to people in order to make thier lives better is being a financial genious.
10-03-2008 @ 5:10PM
John Huckleberry said...
There goes John McCain using another Democrat figure just like he uses Democrat music artist songs to make it appear he is appealing to Democrats and supported by them in some way. How low will he go? Pretty sure Buffet would say no to McCain. Warren Buffet and Bill Gates have put their money and time behind Obama, They're not the kind of guys who jump ship.
10-03-2008 @ 6:46PM
ekrabs said...
You said the magic words: Name dropping.
I mean, come on, there's no way Warren Buffet would step in as Treasury Secretary. What he currently does is fundamentally different from what would be expected of him at a government post. I speculate this based on the fact that Warren has stated he was never a personal fan of being a fund manager, due to all the limitations and regulations that comes along with it. That's why he went with a holding company instead. So, why would he even consider the post of Treasury Secretary?
10-03-2008 @ 9:11PM
Carolyn Bond said...
This has been comic relief for a Friday. I McCain just plain crazy? Watch him...
10-04-2008 @ 8:42AM
Kevin said...
Typical, take what was said so you can twist it to support your thesis. You supplied the quote, "There's people like John Chambers......Warren Buffet", maybe you should take a reading comprehension course. Last time I checked, like, in this instance is used as a comparison. What's wrong with wanting a Secretary of Treasury that has the qualities of anyone of these very successful CEO's., but then again a story like that wouldn't be a story, would it.
10-05-2008 @ 10:14PM
colorblindwhitey said...
Just as in your recent comment on Bank of America, you only offered the smallest sliver of reality, the one that best supports a skewed opinion.
This would have been a much more interesting and enlightening discussion, if you had entertained the possibility that McCain was reaching for talent, not party, something I hope both candidates can do and lead by example.
There are many skilled Americans on both sides of the isle. Let's start seeing that or suffer the fate predicted by Washington.