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Warren Buffett: Jamie Dimon would be 'terrific' Treasury secretary

November 27, 2012|By Andrew Tangel
  • Warren Buffett, left, with Jamie Dimon, center, Monday at an event in New York..
Warren Buffett, left, with Jamie Dimon, center, Monday at an event in New… (Donald Bowers / Getty )

Legendary investor Warren Buffett has given his blessing to one potential nominee for Treasury secretary: Jamie Dimon, chairman and chief executive of JPMorgan Chase & Co. 

Treasury Secretary Timothy H. Geithner has said he won't hang around for Obama's second term. Potential successors reportedly in the running include Jack Lew, White House chief of staff.

Dimon steered the country's largest bank by assets through the financial crisis virtually unscathed and emerged as Wall Street's point-person in Washington. His reputation was called into question when JPMorgan reported losing $6 billion in risky derivatives trades earlier this year, but the firestorm over the losses has since faded.

Buffett, chief executive of Berkshire Hathaway Inc., told Charlie Rose on his PBS show Monday that Dimon would make a "terrific" choice for Treasury secretary and could deftly handle another financial crisis.

“If we did run into problems in markets, I think he would actually be the best person you could have in the job,” Buffett said.

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