Tuesday, October 7, 2008
From Plumber of the Internet to Plumber of the Economy?
When he appeared at our D5 conference in May 2007, Sen. John McCain said that, given the chance, he’d hire Cisco CEO John Chambers for his cabinet. Now, in the run-up to the November presidential election, it looks like Chambers has some competition for that spot. In an interview with Reuters, McCain said that Chambers is still on his short list of potential Treasury secretaries, but the Cisco CEO has some company.





The markets mounted an impressive comeback Friday–the likes of which has not been seen since the 1930s–rallying on a financial intervention by the government. With Adam Smith’s oft-lauded “invisible hand” giving investors the invisible finger and the U.S. mired in one of the worst market crises in recent history, Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke finally decided to act.