Who Will Be The Next Treasury Secretary? Brief Profiles Of The Possible Picks

Brief profiles of some possible candidates to be the next Treasury secretary:

NAME -- Michael Rubens Bloomberg

AGE-BIRTH DATE-LOCATION -- 66; Feb. 14, 1942; Boston.

EDUCATION -- Bachelor's degree in electrical engineering, Johns Hopkins University, 1964; master's degree in business administration, Harvard University, 1966.

EXPERIENCE -- Mayor, New York City, 2001-present; founder, Bloomberg L.P., 1981; employed at Salomon Brothers, 1966-1981.

FAMILY -- Divorced; two daughters.

NAME -- Jon Stevens Corzine

AGE-BIRTH DATE -- 61; Jan. 1, 1947.

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EDUCATION -- Bachelor's degree, University of Illinois at Urbana-Champaign, 1969; master's of business administration, University of Chicago, 1973.

EXPERIENCE -- New Jersey governor, 2006-present; U.S. senator, 2001-06; chairman and chief executive officer, Goldman Sachs, 1994-99; partner, Goldman Sachs, 1980-99; bond trader, Goldman Sachs, 1975-80; assistant vice president, BancOhio, 1974-75; officer, Continental Illinois National Bank, 1970-73.

FAMILY -- Divorced; three children.

NAME -- James Dimon

AGE-BIRTH DATE-LOCATION -- 52; March 13, 1956; New York.

EDUCATION -- Bachelor's degree, Tufts University, 1978; master's degree in business administration, Harvard University, 1982.

EXPERIENCE --Chairman of board, JPMorgan Chase, Dec. 31, 2006-present; president and CEO, JPMorgan Chase, Dec. 31, 2005-present; chief operating officer, JPMorgan Chase, 2004-2005; chairman and CEO, Bank One, 2000-2004; various senior executive positions at Citigroup Inc., Salomon Smith Barney and Travelers Group Inc.; member, board of directors, Federal Reserve Bank of New York.

FAMILY -- Married; three daughters.

NAME -- Warren Edward Buffett

AGE-BIRTH DATE-LOCATION -- 78; Aug. 30, 1930; Omaha, Neb.

EDUCATION -- Attended, University of Pennsylvania, 1947-49; bachelor's degree, University of Nebraska, 1950; master's degree, Columbia University, 1951.

EXPERIENCE -- Chairman and CEO, Berkshire Hathaway Inc., 1970-present; partner, Buffett Partnership Ltd., 1956-69; security analyst, Graham-Newman Corp., 1954-56; investment salesman, Buffett-Falk & Co., 1951-54.

FAMILY -- Widowed; remarried; three children.

NAME -- Meg Whitman

AGE-BIRTH DATE -- 52; Aug. 4, 1956

EDUCATION -- Bachelor's degree, Princeton University, 1977; master's degree in business administration, Harvard University, 1979.

EXPERIENCE -- Member, board of directors, eBay, 1998-present; president and CEO, eBay, 1998-March 31, 2008; general manager of the preschool division, Hasbro Inc. 1997-98; president and CEO, Florists Transworld Delivery (FTD), 1995-96; various positions at Stride Rite, 1992-95; senior vice president of marketing and consumer products, Walt Disney Co., 1989-92; vice president at Bain & Co.; employee, Procter & Gamble Co, 1979-81.

FAMILY -- Married; two children.

NAME -- Sheila C. Bair

AGE-BIRTH DATE -- 54; April 3, 1954.

EDUCATION -- Bachelor's degree, University of Kansas, 1975; law degree, University of Kansas, 1978.

EXPERIENCE -- Chairwoman, Federal Deposit Insurance Corporation (FDIC), 2006-present; dean's professor of financial regulatory policy, University of Massachusetts-Amherst, 2002-06; assistant secretary for financial institutions, Treasury Department, 2001-02; senior vice president for government relations of the New York Stock Exchange, 1995-2000; a commissioner and acting chairwoman, Commodity Futures Trading Commission, 1991-95; worked for former Senate Majority Leader Bob Dole, 1981-88.

FAMILY -- Married; two children.

NAME: Andrew Mark Cuomo

AGE-BIRTH DATE-LOCATION -- 50; Dec. 6, 1957; New York City.

EDUCATION -- Fordham University, 1979; Albany Law School, 1982.

EXPERIENCE -- New York attorney general, Jan. 1, 2007-present; Island Capital Group real estate investment firm, vice president, 2004-05; secretary, Department of Housing and Urban Development, 1997-Jan. 20, 2001; assistant HUD secretary, 1993-96; founded Housing Enterprise for the Less Privileged in 1986 and left his law practice in 1989 to run HELP full time; private law practice 1985-89; assistant district attorney in Manhattan, 1984; special assistant to the governor, 1983; managed father Mario Cuomo's successful campaign for governor in 1982.

FAMILY -- Divorced; three daughters.

NAME -- Timothy F. Geithner

AGE-BIRTH DATE -- 47, Aug. 18, 1961.

EDUCATION -- Bachelor's degree, Dartmouth College, 1983; master's degree, John Hopkins University, 1985.

EXPERIENCE -- President and CEO, Federal Reserve Bank of New York, 2003-present; director of the policy development and review department, International Monetary Fund, 2001-03; various positions, Treasury Department, 1988-2001; employed at Kissinger Associates Inc., 1985-88.

FAMILY -- Married; two children.

NAME -- Lawrence Henry Summers

AGE-BIRTH DATE-LOCATION -- 53; Nov. 30, 1954; New Haven, Conn.

EDUCATION -- Bachelor's degree, Massachusetts Institute of Technology, 1975; doctorate degree, Harvard University, 1982.

EXPERIENCE -- Managing director, D.E. Shaw & Co., 2006-present; president, Harvard University, 2001-06; secretary, Treasury Department, 1999-2001; deputy secretary, Treasury Department, 1995-99; undersecretary, Treasury Department, 1993-95; chief economist, World Bank, 1991-93; has taught at Harvard University and Massachusetts Institute of Technology.

FAMILY -- Divorced; remarried; three children.

Comments

[PT6]

I hope ONE of his GOALS Will be to Remove the "Corrupt Middle-Men"

TECHNOLOGY CAN SPUR THE ECONOMY, REMOVE CORRUPTION, AND AVOID MORE BAILOUTS!

FIVE KEY FACTS:

1. American Taxpayers Own Fannie, Freddie, and a group of Banks!
2. Mortgage Companies and Banks were at The CENTER of the Housing and Financial CRISIS!
3. Crisis Continues Because Homeowners can not Afford TRICKY Loans and are Walking Away!
4. The Current FED RATE is 1.5%!
5. Technology and the Internet are Sophisticated Tools for Automating Loans!

Why not use the Internet and the New Taxpayer Owned Banks to provide direct low cost loans using Automation while Eliminating the Corrupt Middle Men (i.e., Mortgage Companies and Banks)?

The rate on the new loans would be 2.5% to 3% to provide the New Taxpayer Owned Banks with a 1% to 1.5% margin!

Automation can be used to verify employment, verify home title, check credit, and do 98% of the loan Preparation. This eliminates all the mortgage fees, all bank fees, all title fees, most verification fees, and most documentation work done via internet and technology.

This could easily be accomplished using today's technology at a much LOWER COST!

The Savings for AMERICANS will spur the Economy more than any added Bailout Plans

The Savings can be used to paying debts, buy American Cars, buy American Real Estate, and all kinds of American goods plus help other countries in crisis by buying their goods!

[gun]

I know the answer:

BLOOMBERG!!!!!!

He should have been VP, but the d's usually blow that pick (EDWARDS, FERRARO, HUMPHREY, LBJ, GARNER, WALLACE)

Five Reasons:

1. Mayor Bloomberg made billions from the ground up, so he understands actually doing things and not just talking about them. (name a biden accomplishment, quick)

2. He neither an r or d but a p, a pragmatist.

3. He's been in the trenches, under fire. This is gonna get worse.

4. Most people (and they're new yorkers) love or like him as mayor. (if he can make it there...)

5. He is a fox.

Who did FDR put in charge of the SEC but Joe Kennedy, the toughest shark in the country, and it worked because
JOE KNEW THE TERRITORY.

Summers blew Harvard. Volcker, big guy, big talker, big flop.

Reich would be good, but he's too short for that stature thing. And Krugman I love, (oh God the pronouncements would be so elegant and clear), but where is his real world experience?

Most of all, the choice can't be some actor or an affirmative action hire -- we don't need some democratic Condo-worthless -- this person will make or break the president.

And let us remember Truman's suggestion that what a president needed was a one-handed economist so that as the ship sinks we don't just get a bunch of "and on the other hand."

[frs]

PAUL VOLCKER -- you need someone with marque status and Volcker would be great -- he is around 82 so he can come in for the first few years and help turn this thing around.

[smarternu]

NOT CORZINE!!!! New Jersey is soooooo unbelievably and incredibly CORRUPT and I believe gotten more corrupt since he's in been Governor. The man is useless to the people of NJ. He breeds a culture of corruption.

[franklin opt]

This is a tough decision at this time, as we want a Treasury secretary who can do the job however, we don't want to leave the fox in charge of the henhouse. My picks, fwiw:

1. Sheila Bair - Pros: Has the experience in regulation and management and is not a Wall Street insider. Cons: No MBA.

2. Lawrence Summers - Most relevant experience and stellar credentials prior to serving as Secretary and Assistant Secretary. Some industry experience but not too close to Wall Street itself.
Con: Baggage from is tenure at Harvard (charges of sexism) could impede his effectiveness and would be a "red flag" to women.

[rpmcmurphy]

Progressive thinker Peter Griffin of Quahog, RI. Bank on it.

[fightorleave2]

Please someone help me out. Please explain this love affair with Bloomberg. I admit that I really think nothing of him. I would have said hate but then so many think it is too strong of a word, and Bloomberg has achieved so little for NY that I can't hate him because he hasn't done anything. I always like to ask Bloomberg supporters to name one thing he has done to make the City better (I give him the smoking ban but I bet you can't name another).

I am compelled to beg all of you to stop thinking this guy should serve in any capacity. I say take all of his money, make him go to work like the rest of us and then boot him out the door, and this is coming from someone who opposes term limits. Please Obama, learn this: Mike Bloomberg donated heavily to the NY Republican Party (pretty much the cause for all of NY's economic problems) and he is a Republican. Don't forget that. He should have no hand in an Obama administration and no hand in New York for that matter.

[ngannon]

Paul Krugman should be on the list.

[michael429]

Cuomo, a fine atty genl....but not qualified.­...Corzine mixed record as gov. and another ex Gold Sachs guy....Buffet a great investor probably better than the rest....Bl­oomberg...­.another billionaire....

How about Robert Reich?

[Carolab]

Department of Housing and Urban Development, 1997-Jan. 20, 2001; assistant HUD secretary

Read the article in Village Voice about Cuomo and Fannie and Freddie and the relaxation of regulations--very enlightening.

In a word: NO.

[wilsonandy]

Using the expert judgement he exercised in selecting his running mate, McCain would propably select
Phil Graham.

[lvdragonlady]

Warren Buffet would be a great choice.

[TrevorAlan]

Buffett's a good businessman, and open to progressive ideas, actually opposes eliminating the inheritance tax, but I doubt he's want to be a treasury secretary. It would also be impossible to untangle him from direct knowldge of his business interests.

Bloomberg... He's not the worst Republican around, but he still represnts the very rich and very traditional business interests, that is to say, THE PEOPLE WHO GOT US INTO THIS MESS. Plus I hear he's more than a little arrogant. I think we need someone who can meld progressive and conservative politics.

But it would be a good post to put a moderate (non-trickle down) Republican into for bipartisanship.

[adzeman]

In these troubled times, I like Corzine to head Treasury and Buffet to take the next shift at the Fed. He has impeccable credentials, is a true pragmatic progressive and is perfect for the job.

[billw8017]

Sheila Bair makes a good impression as chair to the FDIC. The American Prospect praises her handling of foreclosures when failed banks come under her purview. It seems exactly what Obama is about. Being a Republican need not be such a bad thing if you are a good person and a good public servant.

[Devver]

I'm forwarding this entire entry to someone with a nasty Repug blog. If you hear of someone's head literally exploding in NJ, you'll know it worked! LMAO!!!

[nomadicexpat]

this list is totally wrong

buffett? summers? jamie dimon? man whoever wrote this really doesnt have the pulse of the campaign, or the economy and its players

my vote is it goes to penny pritzker

[lvdragonlady]

Not dimon.
Work for him, that would be a 'not good look' for America.
He sends jobs overseas.