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Jamie Dimon as Treasury Secretary?

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    Former Senator Ted Kaufman on how Obama will deal with the financial crisis.

  • Duration 3:28
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And then this idea at mr.

Dimon might be the next Treasury Secretary well.

That's so -- Warren Buffett seems to be hoping for you talked about the possibility of diamond at treasury in an interview we did yesterday.

Here's say a quote from buffet.

If we did run into problems in markets I think he would actually be the best person you can have in the job world leaders would have confidence in him.

We bring in former senator Ted Kaufman Democrat from Delaware.

Probably going to be asked me about this I think that's that's highly unlikely but you never know what do you think the idea Jamie Dimon is Treasury Secretary.

Well I think that Warren Buffett's truly want a great minds of our century Ivan and Berkshire Hathaway's it is wonderful guy but I think sometimes -- to -- I think he.

-- -- the Republicans crazy with the idea of the profit tax on millionaires and I think.

Yeah I did Jamie down and for secretary -- I think would drive most Democrats crazy for the.

I'd give anybody from Austria honestly gonna happen just done and I'm just talking purely about politics which obviously nothing -- -- about the the idea from -- the nominating a Wall Street person.

In this environments.

And that wouldn't be the best politics what it or what it.

Well and now I don't they would Johnny -- good public policy either but I think especially Jamie diamond Jamie kind of has become the poster child for.

What have most I think most Democrats in Washington think was.

The wrong way the government handled.

Wall Street and and you know we -- fortress fortress bank.

JPMorgan Chase and kind of in the barrel this year said he didn't wanna go around this time we should get off the bankers and then we have them on the -- situation.

But I think -- demonstrates that.

His bank has much to business the too big for even him to manage.

The way we talked about this with you in the past but did the whole idea of what a -- -- administration is gonna look like with its relationship.

With Wall Street what do you think it went and we've we've brought up the wanna see we talked about in the past we've got to protect gotta talk about things like the Libor scandal and and all these very Dodd-Frank can and and other things that have come up the last few years.

Will it be a more aggressive.

Obama administration or one that says -- I didn't like our relation been -- one on it'd be friendlier towards Wall Street which way -- you think they'll go.

-- I don't think they'll go I go down the middle -- -- I think one of the big decision will be here they pick for secretary of treasury -- -- finally they pick for secretary treasury.

You have a pretty good insight into into into whether gone but I.

I don't think there's going to be any -- You know get even with Wall Street area that I think the president.

When he early earlier -- commentators made the point he's really looking down the road for his legacy -- good sense I think that's good that he's looking down the road for legacy.

And I think you'll be looking for some way to kind of work with a Wall Street to kind of deal with with our financial -- especially this financial mess going -- I just think he'll be -- -- different -- way bush and Paulson doubt whether in fact even the -- -- dollars.

And they're not a guy is on his way out so let me end with this she said we -- -- Jamie Dimon at least you have -- -- think he'll take it to Jack -- his chief of staff burden.

Maybe -- somebody else.

I don't know it could be Jack -- it could be.

Sheila Bair -- -- of -- lots of different they would pick but a big an indication of what they're thinking is going forward answer your earlier question I think you'll.

Nobody they pick what kind of -- -- -- take but I think they wanna work for the Wall Street I think they realize that's important piece of doing me.

And dealing with the fact that we're still on this incredible financial crisis -- Ted -- former senator from my Delaware as always thanks you for coming on.

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