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Gasparino: Wall Street Bracing for New Treasury Secretary

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    FBN's Charlie Gasparino breaks down Wall Street's election bets.

  • Duration 5:22
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-- abolish easily win re election November the latest in trade prediction numbers.

Showing him trouncing his Republican challenger Mitt Romney 75%.

To 25%.

With that Wall Street is buzzing about who will be president Obama's next Treasury Secretary Charlie Gasparino.

Has the latest from inside the executive suite -- I I hate to be I hate to be like saying that Mitt Romney is a is a loser now six weeks out there's a lot of campaigning going on.

But I can tell you on having five to 25 gunmen traded makes it sound like four people are betting.

-- -- -- -- -- -- -- -- -- -- A lot of people betting and it's usually right I hate to say but I will tell you this moves around bonds and it'll move around and it's usually right it that in any event.

We're not we're not announcing that Mitt Romney's -- that the campaign is over.

We just on what they're saying Wall Street and yes the bedding in almost you're not just the traders are using to entry -- used by traders as.

Predicting service.

But also inside the executive suites they don't see a real chance for Mitt Romney -- -- and right now what they're looking forward -- Wall Street's generally -- forward predict there.

Is who's gonna be the guy that's going to be breaking their chops the most has the most influence over what they do.

And that usually is a combination of that -- the Federal Reserve Ben Bernanke the New York fed as well.

And the Treasury Secretary so here's do these sort of the -- this is -- in trade this is my.

Statistically insignificant survey of Wall Street executives who they think is could be -- is in the running for this job.

They give they give Jack -- just because he's inside the White House to -- the White House chief of staff right now.

Pretty high marks they think he is going to be that he's the most likely -- to be treasury sector at least that's a quarter to the people I talk to major Wall Street CEOs.

And you know these sort of executive suite players that an idealist who comes after -- -- this -- -- -- -- interest -- the -- -- -- -- around -- -- -- right now.

Is Erskine Bowles to -- -- you know February cop car senator from.

North Carolina consider a moderate to conservative Democrat -- I was on the presence deficit reduction committee which would balance has sent.

And he's pretty good at it but we should point out he's there to although the president as you know.

Ignored a lot of it is completely -- never got a contract they're out of got got that kind of ignore everything he said.

Act but he's seen as a guy they can bring Democrats Republicans -- the Republicans like him.

The other guy that's out there and his name is bounce around and he's he's been it's been bouncing around now for four years.

Is Larry Fink and -- BlackRock I will say this.

Larry Fink is is -- guy -- know very well consumer friend.

That -- be upside to Larry is clearly that.

There is no -- guy on Wall Street that I know right now I mean he really understands the business to do and if since 1975 between trading.

And -- an entrepreneur -- starting his own firm.

I think Larry wants the job.

The negative is that he's really associated with the Wall Street crowd very much that is something that I don't think.

-- the Obama administration.

Would go -- go for but that said.

-- particularly if there is a European financial crisis looming this is the guy want he understands the financial instruments he understands the banks pretty well.

A senior stumbles as much a different dynamics of -- dynamic that's -- -- really -- looking at deficit reduction really gonna do that.

I think you kind of go and you want to make a deal with Republicans he's the guy to do it.

Larry's a different -- efficient depends on how you approach now obviously this is -- Monday morning quarterbacking but inside the Wall Street firms.

These -- the names going around.

The other problem -- but I think Larry taken a job I think it's kind of been dangled out the form in the past and is I don't think he has a natural successor a black work right now.

I mean I just don't I.

Maybe -- he's such a.

It's a pay cut.

Let me what he doesn't connect it doesn't exactly I now -- you know and about a and we should point out about Jack whose finances but you know Erskine Bowles is no stranger Wall Street private equity young.

And I -- the president wouldn't be running for reelection again so he doesn't really care.

Yes I guess you you can you can make the point -- also make the point that you know lasting he needs -- and higher based going nuts.

Boycotting -- boycotting the mid terms.

You know and why does he need -- hassle I -- you -- make both of those cases and because you get the same thing anyway really you know take the risk is he's got you know it right worth.

But you know maybe gets political back question earlier this is really -- -- -- you can -- to Geithner is good.

I don't know that's a whole another but it defect or defect that you don't answer that question -- a -- and I'm telling you that the president you on this not this is that this present darkness.

I know one of the problems this president and here's what I think we reason -- Larry might not take the job you know when he when he sits down in the in in his office and thinks big thoughts.

This president has downgraded the Treasury Secretary to large extent.

Geithner is one of the players but guess who is a major player in terms of economic policy in the White House there -- a woman named Valerie Jarrett who's this special advisor.

She calls a lot of -- lot of shots when it comes to.

You know economic stuff bill -- I know for fact.

As the chief of staff and someone who kind of want to -- -- sectors of he's got obviously got a -- fights -- worked at JPMorgan chicken -- -- -- -- -- I would say bill Daley left.

Because about a -- so that that's the dynamics -- Charlie Gasparino thank you so much it's time for our government.

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