McCain, Obama Tout Buffett as Treasury Secretary
8, Oct 2008 15:24:47
Presidential candidates John McCain and Barack Obama mentioned investor Warren Buffett as a possible pick for Treasury secretary on Tuesday, but both spoke in only general terms about the qualities they would seek for that job. "It is going to have be somebody who inspires trust and confidence," McCain, a Republican, said during the second of three debates between the two candidates leading up to the Nov. 4 election. McCain, an Arizona senator, also mentioned former eBay chief Meg Whitman for the Treasury job when asked by the debate moderator about some names for the post. The Treasury pick is always considered key, but the job has taken on even more importance amid the Wall Street meltdown since Congress approved a $700 billion bailout package for financial institutions last week. Many analysts believe that the winner of White House race might move quickly to make a decision about the Treasury secretary, which Henry Paulson holds now. Obama agreed with McCain that Buffett "would be a pretty good choice" but he added there are "other folks out there" who could be considered. Buffett, a billionaire whose financial expertise is widely respected, supports the Democratic candidate. Obama, an Illinois senator, said he would want to make sure that the next Treasury secretary shares his view that economic policy should focus on improving living standards for the middle class. "The key is making sure the next Treasury secretary understands that it is not enough just to help those at the top. We have to help the middle class," he said.