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Put fun into the Fed
Who wants the same old strait-laced bank types ... let's put some high-profile faces in there.
October 6, 2005: 11:59 AM EDT

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NEW YORK (CNN/Money) - President Bush is looking for a new Fed head.

I'd like to recommend some names beyond the three currently circulating: Ben Bernanke, Martin Feldstein, and Glenn Hubbard. (Okay, Lawrence Lindsey gets mentioned too, but c'mon ... the prez already fired that guy once.)

Now these names are a bit out of left field. Okay, a lot out of right field. But the Federal Reserve is a stodgy place. It could use a real shake-up. Let's use some imagination ...

Warren Buffett -- The Fed is all about money, right? Then let's put the Oracle of Omaha in there. It'd be a time saver for the American public. People are going to listen to Buffett and they are going to listen to the Fed chief, so make it a two-for-one. Also, he could throw in some stock tips to soften any bad interest rate news he may have to break. Of course, he'd have to take a pay cut.

Donald Trump -- Also a man all about money. And he's not obsessed about watching or controlling money. He's into making money ... something the country needs. Open market committee meetings might get a little tense, though. ("Fisher ... you're fired.")

Michael Eisner -- He needs a job. And he'd be good in Washington ... he's used to Mickey Mouse stuff, right?

Martha Stewart -- Also good for Washington. She's used to criminals.

George Soros --Another money man! A flaming liberal appointment to show the president is above politics. ... Okay, I just threw him in here because imagining the uproar is kinda fun. I'd better "move on" though.

Jim Cramer -- Yes, he's a competitor. And I don't always agree with his advice. In fact, sometimes I think it's a bit contradictory. But dang it, he's fun to watch. Could you imagine the congressional testimony? "Booyah, Senator, forget rates. I'm telling ya ... bears make money, bulls make money, pigs get slaughtered!"

Ken Lay -- He meets one of the criteria ... he already has a presidential nickname! And as time drags on, most people are forgetting the whole Enron thing.

All right, all right. None of these picks are perfect. Tell you what, since I was collecting the names anyway, maybe it should just be me. I know money fairly well ... at least enough to fool my bosses. And I'm sure I can build a rapport with the president.

Heck, we both fish.


Allen Wastler is managing editor of and appears on CNN's "In the Money." He can be e-mailed at  Top of page

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