Skip to main content

On Tuesday, McCain had only one person to suggest as his Secretary of Treasury, a man who is your supporter and adviser, Warren Buffett.

Buffet has never been a part of what we consider the "Wall Street" high risk mentality, and yet he has amassed a personal fortune for himself and many of his investors.   While the current Secretary of Treasury, Henry Paulson as CEO of Goldman Sachs was dismantling the last vestiges of regulation among investment banks, as described here, Buffet was warning of the impending crisis, branding derivatives "Financial Weapons of Mass Destruction."

Warren Buffett understands as much as anyone what our country, and the world, is facing because of the risk taking mentality of people like Alan Greenspan, Phil Gramm, Henry Paulson, and John McCain.  

He is also a patriot, in the true sense of the word, rather than the flag waving jingoism that McCain and Palin are promoting.  If you were able to get a public commitment that he would take on this responsibility, this act alone could insert some confidence, now almost gone, in the investing public.  This announcement alone could stem the panic that is destroying trillions of dollars of equity each week.  

It could be that we are on the cusp of a collapse that will require a restructuring, a revolution actually, in the world's economic system.  Such a restructuring will be frightening, in different ways, for all segments of society, from the destitute to the wealthy.

Warren Buffett is that rare, perhaps unique in our time, individual who is both wealthy, yet values the verities of thrift and fairness.  Knowing his values will be guiding whatever may come will provide a sense of continuity, and security during such trying times.

And as a byproduct, where he to accept the position, it would mean clinching the presidency; and more importantly, having a fighting chance of surviving this economic disaster that you, and we, will inherit.


Originally posted to ARODB on Thu Oct 09, 2008 at 03:14 PM PDT.

Your Email has been sent.
You must add at least one tag to this diary before publishing it.

Add keywords that describe this diary. Separate multiple keywords with commas.
Tagging tips - Search For Tags - Browse For Tags


More Tagging tips:

A tag is a way to search for this diary. If someone is searching for "Barack Obama," is this a diary they'd be trying to find?

Use a person's full name, without any title. Senator Obama may become President Obama, and Michelle Obama might run for office.

If your diary covers an election or elected official, use election tags, which are generally the state abbreviation followed by the office. CA-01 is the first district House seat. CA-Sen covers both senate races. NY-GOV covers the New York governor's race.

Tags do not compound: that is, "education reform" is a completely different tag from "education". A tag like "reform" alone is probably not meaningful.

Consider if one or more of these tags fits your diary: Civil Rights, Community, Congress, Culture, Economy, Education, Elections, Energy, Environment, Health Care, International, Labor, Law, Media, Meta, National Security, Science, Transportation, or White House. If your diary is specific to a state, consider adding the state (California, Texas, etc). Keep in mind, though, that there are many wonderful and important diaries that don't fit in any of these tags. Don't worry if yours doesn't.

You can add a private note to this diary when hotlisting it:
Are you sure you want to remove this diary from your hotlist?
Are you sure you want to remove your recommendation? You can only recommend a diary once, so you will not be able to re-recommend it afterwards.
Rescue this diary, and add a note:
Are you sure you want to remove this diary from Rescue?
Choose where to republish this diary. The diary will be added to the queue for that group. Publish it from the queue to make it appear.

You must be a member of a group to use this feature.

Add a quick update to your diary without changing the diary itself:
Are you sure you want to remove this diary?
(The diary will be removed from the site and returned to your drafts for further editing.)
(The diary will be removed.)
Are you sure you want to save these changes to the published diary?

Comment Preferences

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site