Support for Treasury Secretary Timothy Geithner has been declining for some time, as unemployment rates continue to challenge the nation’s economic recovery. Frustration mounts as Washington and the country at large alike question whether Geithner can handle the enormous challenges that face the nation, and if not, if there is someone who can. Some policy makers have already begun looking toward the future with fingers pointing toward, JPMorgan Chase CEO Jamie Dimon as a potential replacement for the floundering Geithner.
Last week, a meeting with the Joint Economic Meeting resulted in an exchange of words and one Congressman asking Geithner to step down. While no definitive plans were made, there seemed to be an echo of agreement that such a move might be best for the nation.
Whether Dimon can tackle the obstacles that face the nation, including the weak dollar, astronomical deficit and widespread unemployment, remains to be seen, but the prowess with which he navigated JP Morgan through the recession bodes well for him.
Dimon has received additional support for the decisions he’s made as C.E.O., where his peers have been met with disapproval. While Goldman Sach’s Larry Blankfein takes heat for handing out big bonuses, Dimon has announced no bloated checks will be handed out to his firm.
Dimon has become increasingly visible in Washington in recent weeks, meeting with government officials and gaining support among higher ups.
Dimon has not spoken publicly about his interested in Geithner’s position nor has Geithner announced plans to step down.
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