One of the few things that Barack Obama and John McCain agreed on during last night's televised debate was that billionaire Warren Buffett would make a good Secretary of the Treasury.Odds are that the universally respected Buffett won't take the job. Why does he need the headache at this point in his life? Besides, he may not be the type of government official investors would like. Much to the horror of political conservatives, the Oracle of Omaha is backing Obama. He has come out against such bedrock Republican principles as abolishing the so-called death tax on inherited wealth. The financial disclosure requirements alone probably are enough to scare Buffett away from government service.
To counter Obama's Buffett card, McCain said that former eBay Inc. (NASDAQ: EBAY) CEO Meg Whitman might be the right person for the job. I guess no one mentioned to the Arizona senator the massive layoffs planned by the online auctioneer. Interesting how another McCain supporter, ex-Hewlett Packard Co. (NASDAQ: HPQ) Chief Executive Carly Fiorina, did not merit consideration. Given her disastrous tenure, it's no wonder.
Another good potential Treasury Secretary neither brought up is Michael Bloomberg. The founder of Bloomberg LP (where I worked for seven years) clearly knows the markets. He's rich and has shown savvy in navigating New York City's political landmines that Washington should be a walk in the park. Too bad he's got his heart set on a third time as mayor.
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