While White House hopefuls Republican John McCain and Democrat Barack Obama wasted no time trading barbs in their second presidential debate, they agreed on the one man they would like to see running their Treasury Department to help pull the U.S. economy out of a tailspin: investment guru Warren Buffett.
“A supporter of Senator Obama’s is Warren Buffett. He has already weighed in and helped stabilize some of the difficulties in the markets and with companies and corporations, institutions today,” McCain said.
“I like Meg Whitman, she knows what it’s like to be out there in the marketplace. She knows how to create jobs. Meg Whitman was CEO of a company that started with 12 people,” McCain said, referring to one of his own economic advisers who used to run online auction giant eBay.
“Warren would be a pretty good choice — Warren Buffett, and I’m pleased to have his support,” Obama said. “But there are other folks out there.”
Who would voters like to see running the Treasury Department under the next administration and working to fix the economy?
Click here for more Reuters 2008 campaign coverage
- Photo credit: Reuters/Jim Young
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I think Buffett would do a great job in this position, but I doubt he would take it if it were offered to him. He’s not used to being employed/working for someone else..and I don’t think he’s masochistic enough to go from being completely independent and self-directing to being one part of a huge bureaucracy, where even ideas that don’t meet with opposition are very, very slow to be adopted and implemented.
Dr. Tantillo, who has ( http://blog.marketingdoctor.tv ) did a post a little over a week ago on Buffett (in a winner/loser post that contrasted him with WaMu).
Dr. Tantillo blogs from a branding perspective, and posits that any company must stay true to its brand’s ‘core features’ to succeed.
Full post: http://blog.marketingdoctor.tv/2008/09/2 6/brand-advisory-buffett-and-wamu.aspx
I think that working for someone else is not part of Buffett’s brand….
- Posted by sloaneNOT john mccain.
- Posted by TedConspec– What do you mean Warren Buffet doesn’t give away any money? He’s giving away ALL his money. He has already given BILLIONS to the Bill And Melinda Gates Foundation, and plans to give 85% of his fortune away. He’s been interviewed about this for years, and has always said that he’d rather give a huge chunk later in life that can make a huge difference to the world, rather than a relatively small amount in increments. You can read about it here:
http://money.cnn.com/2006/06/25/magazine s/fortune/charity1.fortune/
Warren Buffet is frugal but NOT greedy. He won’t lose much money in this sub-prime crisis cause he wasn’t greedy, just like he didn’t lose money during the internet bubble. He buys companies based on value. If the stock is undervalued, he’ll buy it, and a company leveraged to the hilt with mortgage securities is not a good value.
If Obama can get Buffet to agree to be his Treasury Secretary right now, he’ll win the election in a landslide. I can’t think of a better person to do this.
- Posted by PatrickI’d like Buffett for President and Bloomberg for VP.
I don’t think Buffett would want to spend a moment taking orders from McCain. McCain is obviously trying to boost his own credibility by evoking Buffett’s AAA reputation.
- Posted by RaghuveerMeg Whitman - bad choice.
- Posted by JimWarren Buffett - good choice.
tanya: McCain is a traitor? How can you speak for millions of American soldiers that have suffered in combat. Can YOU fathom being tortured for five and a half years?!
McCain tries to make us believe that Obama is against us? I’ve never heard someone so desperately following party lines. They both want to take us out of this 8 year drought!
- Posted by JONYIunfortunately conspec, who posted the ill informed comment regarding mr. buffett, is as confused about facts as he probably is about the current economy. The fact is, mr. buffett has donated to charity more money than anyone in history. it’s a simple fact that with minimal effort can be researched right here on the internet. buffett certainly knows the economy better than anyone alive but the chances of him holding public office is very slim. there’s no reason for him to do so. he’s helping the economy without the need for public office.
- Posted by JimWell I think enough people have debunked the ignorant comment that Warren Buffett doesn’t give away money…but no one (I don’t think) has challenged the idiotic notion that he wouldn’t take the job because he would enjoy more income and status in the private sector…do you honestly think he cares about either at this point? He has more than enough of both quite clearly.
(I do agree with another poster though who said that McCain’s Treasury Secretary would more likely be Phil “nation of whiners” Gramm).
- Posted by Oliver L.So far of all the superstar investors in the news, only Buffet has been correct more often than he has been wrong.
Yes, he’s said flat out that he wouldn’t take the job if he was offered it.
To me, those two things says he’s the man for the job.
Mr. Buffett, please consider this an American Patriot’s plea for you to sacrifice the years of retirement in order to help us survive with your market wisdom. We desperately need someone like you.
- Posted by Brian WolfeBuffett would be great for our country, but more times than not, all we get in politics are those that failed in the private sector.
You people don’t get it. Obama just contradicted himself over and over. Liberals are following Obama like a puppy follows the dog catcher to doggie hell! I wrote a blog post about Obama’s contradictions, but I’m sure liberals will tell me how stupid I am, and how I am wrong with the same old language, “Change!”
http://averagepolitics.wordpress.com/200 8/10/07/debate-winner-obama-or-mccain/
- Posted by Nate StockardMcCain is a traitor. He turned against America when he was a prisoner in Vietnam. He made a video denouncing his own country that he loves so much. Many American soldiers died being tortured rather than turning against their own country.
You know the phrase “ye doth protest too much”, I think that’s why McTraitor constantly tries to make us believe Obama is against us, because he knows there’s video showing him turning against his country that he professes to love so much
- Posted by tanyaI don’t care who the democratic nominee is. After eight years of Bush-whacked Republican policies I won’t vote for McCain who has supported Bushs’ policies lock-step for eight years.
- Posted by joanI wasted 8 seconds of my life reading the post by conspec that I will never get back because conspec likes to give an unsubstantiated opinion about the worlds greatest investor - buffett. Buffett has committed 85% of his net worth to the Bill and Melinda Gates foundation. Over 30 Billion dollars!!! The largest philanthropic donation ever. Had he been giving money away throughout his life time, it would never have compounded to such a large amount.
- Posted by josh bBuffett is the man and he has given more money than Gates has ever given. Not only that, he gave it to the Bill and Melinda Gates foundation to give away.