That’s what this article says:
NEW YORK (MarketWatch) — Barring an October surprise, the fall election has all but been decided. The next question on Wall Street is whom President Obama will install as Henry Paulson’s successor as head of the Treasury Department.Though no decision has been made, the rumor is that the Obama camp has already reached out to its first choice. The eye-popper is that the potential pick — Jamie Dimon — has signaled an interest in the job.
It wouldn’t be a stretch to suggest Obama would simply be repaying a big campaign supporter. In the political world, Dimon hasn’t been playing a neutral role. Over the past decade, he has contributed more than $500,000 to a variety of political causes, according to Federal Election Commission data culled by Opensecrets.org.Dimon has leaned sharply toward the Democratic Party. He contributed $60,000 to the Democratic National Committee between 1996 and 2000. He’s donated to New York politicians and Democrats seeking election outside the Empire State.Dimon has also given to the senatorial campaigns of Harry Reid, Max Baucus, Harold Ford Jr. and congressional candidates such as Rahm Emanuel.Republicans who have influence over financial regulation also received money from Dimon. He supported Rep. Michael Oxley, R-Ohio, who co-sponsored the corporate reform law passed in the wake of Enron Corp. and WorldCom. He gave money to Richard Shelby, R-Ala., who is the ranking member of the Senate banking committee.
Let me be really clear. I’m a Democrat. I think they’re crazy half the time. I think they spout things and come up with policies that have the absolute opposite effect of what they intend. I think they sometimes completely miss the point about individual responsibility. I think our litigation system has a chance of making us a bunch of whiners and blamers for the rest of our lives. That’s the Democrats. And while I’m a Democrat, I believe in fiscal responsibility, I believe in self responsibility.I do believe we’re our brothers’ keepers. I think there’s nothing wrong with taxing the wealthy a little bit more and having a more egalitarian society. I think Americans who make their money here and take it to [foreign tax shelters] should go to the stockade. They made it here, they didn’t die for their country, they shouldn’t act like it was all them.
I have a lot of very wealthy friends, a lot of Republican friends who act like they made this country. They’re the beneficiaries of the many people who died for them. They’re the beneficiaries of Jefferson, Madison, Lincoln, and it irritates me that they don’t acknowledge that.
We’d all live happier if we lived in a better society. Mankind has always been struggling for a better society. I think it’s a good thing to do. I would just do it rationally. You could do it in a way that kills the golden goose. That’s my great fear about the Democrats. They just wrap it up with laws, regulations, requirements, class actions suits, blame the large corporations. They could cripple they system. They have to be very careful on that.”
Maybe he could be the adult in the new Obama administration on economic policy. Robert Rubin played that role in the Clinton administration and that worked out pretty well.
If Obama surrounds himself with people like Dimon, I think I’d feel a lot more comfortable with him as President. My biggest fear is that he will repeat the mistakes of Hoover (Smoot Hawley tariffs) and FDR (punitive taxes on the rich and public works programs) and put us in an economic ditch from which it takes years to extricate ourselves. It sounds like Dimon would try make sure that didn’t happen. You never know though; Andrew Mellon didn’t deter FDR.