Cisco CEO John Chambers to be next Treasury Secretary spending $700 billion of US taxpayer money?

Cisco Supports $810 Billion Wall Street Bailout Legislation
According to Reuters, the US financial crisis and $700 billion Wall Street bailout bill in Congress has heightened interest in who would lead the US Treasury Department in the next administration, adding that Republican presidential candidate John McCain declined to say if he would consider asking current US Treasury Secretary Henry Paulson to stay.

John Chambers
Reuters continued that Cisco CEO John Chambers was the first name mentioned by John McCain when questioned in an interview regarding potential Treasury Secretaries in a new administration. Additionally, Cisco is among a group of Silicon Valley tech companies urging passage by the U.S. House of Representatives of the $700 billion Wall Street Bailout, reports The San Jose Mercury News.

Cisco did not respond to telephone and email requests for comment. Below is a detailed outline of the Wall Street Bailout proposal that was derived from a Senate copy obtained by The New York Times DealBook. Alarmingly, the bailout includes the purchase of any financial instrument as determined by the Treasury Secretary, not just mortgages. Based on the following US Senate Bailout proposal, as Treasury Secretary, John Chambers would rule the business world with $700 billion of US Taxpayer money to spend at his direction.

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