RUMOR: Obama pick as Treasury Secretary: Citi's Jamie Dimon. Hope it's FALSE

[philly_bob]

It's a rumor on market board Ticker Forum. This would really be disappointing.

http://www.tickerforum.org/cgi-ticker/akcs-www?post=67077

http://en.wikipedia.org/wiki/Jamie_Dimon

I only report this on the off chance that it's true, so that others can express their opinion, to puncture what may be a trial balloon.

Obama's Treasury cabinet chair calls for a smart economist like Krugman, not an old-line acquisitive banker.

[lisa58]

1. I heard it would be Jon Corzine

[Imagine My Surprise]

8. I'd heard it would be Betty White

wtf?

[InkAddict]

18. Who let the dogs out? n/t

[Aloha Spirit]

2. Or Peter Orszag..

http://cboblog.cbo.gov/

[lapfog_1]

3. I was thinking that Krugman would be the next Fed chair.

Treasury would be OK too.

[Bigmack]

10. Huh!??? Krugman????

What does he know? Oh.. he may have won some little award recently, but......

(Deep, bailout-style :sarcasm: intended)

I guess the guys outside the insider financial circle-jerk are outta luck when it comes to government jobs.

Obama needs to promise an FDR style Brain-Trust approach to the economy.... and include academics, WS types, everybody!

Then he needs to make good on that promise.

[DJ13]

4. I would prefer Warren Buffet

[still_one]

5. ticker forum has some good insights, but there rumor threads aren't

worth very much

Also, most of the posters tend slightly to the right of center, some more than others

There is no way that Obama would choose dimon

Note the poster of this news didn't supply a link, so I regard that as suspect

[bbetances]

15. There is news, many links in fact.

here are a few.

http://www.usnews.com/blogs/capital-commerce/2008/10/22/treasury-secretary-jamie-dimon-dont-raise-taxes-obama.html

http://www.marketwatch.com/news/story/prediction-obama-pick-dimon-treasury/story.aspx?guid={CC95B387-4E33-4883-AB80-EB3FA337E6E3}

http://www.inpaulsonwetrust.com/2008/10/jamie-dimon-to-be-the-next-treasury-secretary/

all fairly credited sources, i might add.

[Democrats_win]

6. Citi sewer schiesters need not apply. PUT them in JAIL!

[BrklynLiberal]

7. I hope it is not Jamie Dimon. He was in charge when I worked

for Smith/Barney/Shearson. If you looked up son-of-a-bitch in the dictionary, it would have his face next to the definition.
I would hope that Obama would not have such disgusting Wall Street pig in his administration.

Jon Corzine worked at Goldman/Sachs when I worked there. He is someone I could deal with in the administration.

I thought the Nobel prize would guarantee the Secty of Treasury to Krugman

[ElboRuum]

9. I heard it would be Xenu.

NOES, ITZ TEH TRUT, I'M SERIES!!!1111!!ELEVENS!!!ZOMG!!1!1!!!1

Plz braek rumr mil, kthx!

[bbetances]

11. i signed up just to reply to this post

im a democrat and will be voting for Obama because i believe he is the better candidate, and to be honest, this country and society in America as a whole, is fucked. if he cant fix this country with his socialist ideas (i am a socialist, and socialism is the middle ground between democracy and communism), no one can.

but Jamie Dimon?

works for JP Morgan Chase, not Citi.

DUH

[Generic Brad]

12. Welcome to DU!

:hi: We can always use another socialist around here.

[bbetances]

14. RE: Welcome

I cant really tell if your post was an insult or a good thing, but the fact of the matter is this:

we need socialism. Not because its a good thing, because thats far from the truth. Socialism, as an ideal is bad. But it is a good idea because it will show America that it could be much worse. We could have a dictator that tells us what to eat, what to think, what to feel (thanks, Scarface). We need to find out that there are things far worse that trying to figure out if we can afford that $2,000 TV. I am a Social Capitalist because I feel the middle class can't hold their own, and in turn, blame everyone else for their problems.

I make around $500/week, and I dont blame Wall St., FULLY, for our problems. I believe its 25% Wall St., 25% Main St, and 50% Gov't.

[Generic Brad]

16. I consider socialism a good thing

We need more people who understand socialism contributing here. Looking out for the common good is something I see as a positive; it is not an inherent evil.

If posters here mean the opposite of what they say, you will most likely see this little symbol: :sarcasm:

I, on the other hand, was being sincere. I truly mean it. Welcome to DU! :hi:

[midnight]

13. How about this women- Brooksley E. Born, the 57-year-old head of theCommodity Futures Trading

Commission. Born wanted to shine a light into the dark. She had offered no specific oversight plan, but after months of making noise about the dangers that this enormous market posed to the financial system, she now wanted to open a formal discussion about whether to regulate them -- and if so, how.

Greenspan, Rubin and Levitt were determined to derail her effort. Privately, Rubin had expressed concern about derivatives' unruly growth. But he agreed with Greenspan and Levitt that these newer contracts, often called "swaps," weren't exactly futures. Born's agency did not have legal authority to regulate swaps, the three men believed, and her call for a discussion had real-world consequences: It would cast doubt over the legality of trillions of dollars in existing contracts and create uncertainty over how to operate in the market.


The economic brain trust not only won the argument, it cut off the larger debate. After Born quit in 1999, no one wanted to go where she had already gone, and once the Bush administration arrived in 2001, the push was for less regulation, not more. Voluntary oversight became the favored approach, and even those were accepted grudgingly by Wall Street, if at all.

[dixiegrrrrl]

22. Obama's current financial advisor is Rubin.

:puke: :puke: :puke:

[TomClash]

17. Youo're all wrong

He has not decided yet.

[DemReadingDU]

19. Larry Summers

Chris Matthews has a political roundtable show. It comes on before Meet the Press, in our area.

Someone on this roundtable predicted that Obama would pick Larry Summers.

[Eurobabe]

20. I heard that too...

Wasn't he the moron President at Harvard (who was sacked)? Seems Summers touched off a firestorm saying the reason more men were in Science was due to innate abilities (which apparently, according to Larry, women do not possess??)

Can't Obama find anyone better than this guy? :eyes:

[DemReadingDU]

21. Yeh, I recall that too

:shrug:

[Better Believe It]

23. How About Roubini? He's clean and has no stake in Wall Street

And dump the Rubin crowd.

[SlowDownFast]

24. Hear, hear!

Roubini would be my #1 choice.

[upi402]

25. Maybe my skepticism was warranted. Another "Dem" corporatist?