Eric Schmidt temporarily replacing Steve Jobs as Apple's CEO?

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Doug Kass writes that

[...] Google (GOOG - Cramer's Take - Stockpickr) CEO Eric Schmidt has already begun low-level discussions with several Apple board members regarding his role as a possible temporary replacement to Steve Jobs should the options-backdating issues intensify at legal levels.

I find the idea both fascinating and scary, especially if he runs both companies at the same time.