As the presidential campaigns continue to address voter’s concerns on a waning economy, both candidates have expressed who their pick for Treasury secretary might be: Warren Buffett, according to The New York Times.
During the presidential debate in Tennessee on Tuesday, both candidates, Senators John McCain and Barack Obama, were asked who they would appoint since Henry Paulson said he would not be staying another term.
McCain toted that the individual assigned the job would have to be trusted by the American people. “Buffett has already weighed in and helped stabilize some of the difficulties in the markets and with companies and corporations, institutions today,” said McCain.
Obama said, “Warren would be a pretty good choice—Warren Buffet, and I’m pleased to have his support,” he said. “But there are other folks out there.” He did not proceed to mention any other potential candidates he’s pursue.
Peter J. Solomon, the chairman of a boutique investment banking advisory firm sent a public letter on Tuesday, suggesting that rather than putting Neel Kashkari in charge of the government’s $700 billion bailout fund, that Buffett might be a better person for the task.
However, at age 75, and with one of the largest companies in America to run, the likelihood that Buffett would take on the job is more than unlikely. Buffett already plays an advisory role to not only the current, but to former U.S. presidents.
In a recent interview with Directorship, Alice Schroeder, author of Snowball: Warren Buffett and the Business of Life, said that Buffett wields significant sway over world economic matters. “He is so influential–politicians and leaders from all over the world consult with him,” she says. “Behind the scenes he has an incredible amount of influence on what happens in this country and around the world. You may not hear about it in the headlines, but it is very real.”
With all the talk of Buffett’s new possible role, when asked if he’d actually take the job—he just smiled, according to NYT.