Will JP Morgan's CEO Be The Next Treasury Secretary? (Jamie Dimon to replace Tim Geithner?)

The Atlantic ^ | 11/25/2009 | Daniel Indiviglio

[SeekAndFind]

Wow, this is a really amusing report from the New York Post. Apparently, some people are pushing for JP Morgan CEO Jamie Dimon to replace Timothy Geithner as Treasury Secretary. And he might want the job. This is unlikely on so many levels that I hardly know where to begin.

First, here's what the Post says:

As support for Treasury Secretary Timothy Geithner wanes on Capitol Hill amid frustration with the Obama administration's handling of the economy, JPMorgan Chase CEO Jamie Dimon is emerging as a potential replacement.

Sources tell The Post that a number of policy makers have begun mentioning Dimon as a successor to Geithner, whose standing in Washington has suffered because of the country's high unemployment rate, the weakness of the dollar, the slow pace of the recovery and the government's mounting deficit.

For starters, Geithner isn't going anywhere. Anyone who thinks he might be is nuts. He has carried out President Obama's every wish. And the financial markets have been doing considerably better since he took the reins. While the broader economy isn't doing quite as well, the Treasury Secretary has had little control over any of that. He played virtually no role in the stimulus, the decline of the dollar or the deficit. Unless he gets tired of the job, I'd be shocked -- shocked -- to see him ousted. That would make the Obama administration look really bad.

[Mobties]

I can’t believe that everyone seems to be overlooking Hillary’s quick study and clairvoyant mastery of financial markets (e.g. cattle futures) in this discussion about replacing the Tax Cheat.

[Broker]

Jamie Dimon is the best entrepreneur on Wall Street and Main Street. He knows how to use his knife and quickly gets to business. Ronald Reagan has the former CEO of Merrill Lynch a Donald Regan as his Sec. of Treasury. He was shared many of Dimon's qualities.

JPM is a great franchise thanks largely to Dimon. He cut his teeth with Sandy Weil and was seasoned at Bank One. He is annointed where he is ...

[Nervous Tick]

>> I can’t believe that everyone seems to be overlooking Hillary

Absolutely! Totally screwing to the wall TWO cabinet-level administration posts in one presidential term is a monumental challenge, of course, but if anyone could do it, my money’s on Hildog!

[pnh102]

So we're replacing a tax cheat with a welfare queen.

I guess that can be considered progress.

[poindexter]

Well, they all take turns making each other CEOs of Fortune 500 companies, I guess they can take turns making each other Cabinet Secretaries.

[ikka]

I thought the position was Goldman Sachs only?

[org.whodat]

I don't know, depends on whether Goldman signs off on it.

[hal ogen]

Geuntner, tax cheater, needs to go under the bus (but leave a lot of room, there are surely more to come).