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November 25th, 2008 - 8:06 am

Here’s the wildest rumor I’ve seen in weeks:

While Google’s market capitalization tanks and the company launches its first wave of cost-cutting, CEO Eric Schmidt is devoting much of his public-speaking time to pressing for green-energy stimulus plans and discussing the auto industry bailout. Technology, Media & Telecom Analyst speculates that this is because he is getting ready to take a position in the Obama Administration.

What would Schmidt do in the Obama Administration? His job at Google was to give investors the impression that a grown-up was running the place, but Obama already brought back in Robert Rubin.

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