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Your Next Treasury Secretary?

Treasury Secretary Timothy Geithner has made it clear he plans to leave office before the start of President Obama’s second term. As a result, a list of likely – and sometimes fanciful – candidates has emerged. Incorporating American Banker readers’ suggestions, here are some of the pros and cons associated with potential replacements.

(Image: Bloomberg News)

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Jacob Lew

Pros: Per a reader, President Obama’s current chief of staff “came in at a critical time and settled down the White House, and … has an amazing background.” This includes serving as director of the U.S. Office of Management and Budget.

Cons: Lacks what many would consider an extensive business background.

(Image: Bloomberg News)

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Erskine Bowles

Pros: Has an impressive resume, having served as White House chief of staff under President Bill Clinton and co-chair of President Obama’s National Commission on Fiscal Responsibility and Reform. Per a reader, “[Bowles] has great negotiating skills … [and] the respect of people on both sides of the aisle.”

Cons: Has been widely criticized for overstating the immediacy of the fiscal cliff and advocating for lower tax rates in a report meant to be focused on deficit reduction.

(Image: Bloomberg News)

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Larry Fink

Pros: The BlackRock CEO "has the skills that [the Obama administration] desperately [needs] without the excess baggage," says a reader.

Cons: May be too closely associated with the Wall Street crowd … and Geithner, whom Fink has regularly counseled over the past few months.

(Image: Bloomberg News)

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Sheila Bair

Pros: Per a reader, “given her experience, credibility and … courage to criticize the system as it has been and still is, Bair seems like the perfect choice.”

Cons: Unabashed criticism of Geithner – and by extension the Obama administration – also makes her an unlikely pick.

(Image: Bloomberg News)

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Eliot Spitzer

Pros: Hard-nosed prosecutor

Cons: No financial background; reputational risk, the reason he stepped down as New York governor.

(Image: Bloomberg News)

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Warren Buffett

Pros: Oracle of Omaha; per a reader, “few men on the planet have greater respect within and outside the financial community than [Buffett] does.”

Cons: His name has been bantered around before (by President Obama, no less), but Buffett has never expressed interest in the position … which would also require him to take a massive pay cut.

(Image: Bloomberg News)

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Mitt Romney

Pros: Experience in the private sector; bipartisan olive branch. Per a reader, the former Republican presidential candidate “would be a great choice.”

Cons: May be a bit too much of a bipartisan olive branch; per a reader’s tweet, Romney’s views “are totally opposite” the President’s.

(Image: Bloomberg News)

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Michael Bloomberg

Pros: Extensive government experience; highly successful business career.

Cons: Personal wealth represents a conflict of interest; rumored to have trouble playing nice with others.

(Image: Bloomberg News)

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Nate Silver

Pros: A reader’s suggestion for the position, the New York Times pollster is certainly good with numbers.

Cons: Lacks political experience or demonstrated interest in the job; may have trouble appealing to both parties.

(Image: Bloomberg News)

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Mark Carney

Pros: Governor of the Bank of Canada and chairman of the Basel Financial Stability Board; per the reader who suggested him, Carney is “a star on the global stage.”

Cons: Not born in the U.S.; per the same reader, “How'd that guy Alexander Hamilton work out?”

(Image: Bloomberg News)

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Big Bird

Pro: A tongue-in-cheek reader suggestion. Based on a PBS statement regarding its character’s inclusion in an Obama campaign attack ad, Big Bird is officially "non-partisan."

Con: Might ruffle some feathers.

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