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.First of all, if you think Timmy hasn't been sucking up to Wall Street enough, then yes, Dimon's your man. Second of all, there's that strong suggestion yet again that Obama's problem is deficit reduction, not job creation. Both make me think ad bad as Tim Geithner is, Jaime Dimon would actually be an order of magnitude worse as SecTreas.
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.
The Wall Street fatcats were talking about replacing Timmy with Jaime Dimon back in March. I said then that it was a horrid idea, It may actually be worse now.
Can you imagine how putting a TARP bank CEO in charge of Treasury is going to look? Are these "sources" insane or just stupid? It would end Obama overnight. He's got to be aware of this.
Right? I mean even with Dimon aside, trying to reduce the deficit right now would pretty much wreck the economy. Doing that and hiring Jaime Dimon as SecTreasury would assure a Dem meltdown in 2010. I never thought I'd say this, but this guy would actually be worse than Henry Paulson.
What the hell are people thinking up there?
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2 comments:
"It would end Obama overnight."
Optimist. There's still a vast supply of wide-eyed support for Obama from people who don't care what he's actually doing, or not doing. They're still in Election Day Evening, 2008, mode and don't care to hear anything about his feet-of-clay problem.
For example, see:
http://www.pollster.com/blogs/obama_and_indepedents.php
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