The Daily SHow with Jon Stewart has this two part interview with Warren Buffet and Carol Loomis about what she collected over 40 years’ worth of Warren Buffett’s stray thoughts for her book, “Tap Dancing to Work.”
The interview is kind of silly, and Stewart walks all over the important points that Buffet tries to make, but it’s probably worth something to capture this on my blog for future reference.
By the way, I don’t revere everything that Buffet has to say. He recently recommended Jamie Dimon for Secretary of the Treasury which is a a perfectly insane idea. The last thing we need is another Secretary of the Treasury blinded by the myths of Wall Street.
The article, Sorry, Warren Buffett, Jamie Dimon probably wouldn’t make a great Treasury Secretary, gets at why I think Warren Buffet is crazy on this particular thought of his. The article describes what the job of Secretary of the Treasury is and why types like Dimon and Geithner are so wrong for the job.
I am not sure I totally agree with the author’s assessment of some previous Secretaries of the Treasury, but it does give to a hint at where else we might find decent Secretaries of the Treaury outside of Wall Street.
Some quite good Treasury secretaries haven’t had particularly deep knowledge of finance or economics, but made up for it with skill navigating the halls of power. Think Lloyd Bentsen under Clinton (a former senator), James Baker under Reagan (previously a lawyer and White House chief of staff), and John Connally under Nixon (a governor of Texas).