News Column

Buffett: Bank on Dimon

Nov. 27, 2012

Russell Lynch, London Evening Standard

Jamie Dimon (Financial Times Photos)
Jamie Dimon (Financial Times Photos)

A re-elected Barack Obama should pick up the phone to JPMorgan chief executive Jamie Dimon as the best man to lead the US Treasury through a financial crisis, Warren Buffett, the Sage of Omaha, declared.

Obama is looking for a replacement for Tim Geithner, who wants to step down. Buffett, the world's third-richest man, said: "If we did run into problems in markets, I think he would actually be the best person you could have in the job. World leaders would have confidence in him."

Installing Dimon as US Treasury chief could spark some transatlantic tensions with incoming Bank of England Governor Mark Carney. The pair clashed last year in a private IMF meeting in Washington when Dimon launched a tirade against Carney over new banking regulation, forcing Goldman Sachs chief executive Lloyd Blankfein to step in.

Carney hit back in a public speech two days later, warning against "backsliding" on reform. Dimon has previously ruled out any interest in the job.

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Source: (c)2012 London Evening Standard Distributed by MCT Information Services

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