Why has Obama neglected Treasury?
posted at 12:55 pm on March 11, 2009 by Ed Morrissey
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President Barack Obama’s handy excuse for all sorts of goofs and missteps is that he’s too busy working on fixing the economy. In order to do that, one might expect that Obama would concentrate on building his economic team at the Department of the Treasury, where most of those efforts would originate and get managed. Instead, as noted earlier today, phones go unanswered at Treasury — and our allies and trading partners have begun complaining about the lack of effort in the White House.
Reports have floated around that “dozens” of positions remain unfilled at Treasury, most recently in the New York Times’ profile of Treasury Secretary Tim Geithner:
Compounding the strain on the Treasury, almost all the top posts beneath Mr. Geithner are still vacant. Though he has hired about 50 senior advisers — about half the number he hopes to recruit — the White House has become so worried about potential tax problems and other issues in the backgrounds of candidates that it has nominated only a handful of people.
From that, we know that more than four dozen positions remain unfilled — positions that Geithner has to fill himself. But what about positions that the White House has to appoint? I researched that question this morning, and found the list of positions at Treasury that require White House appointment and Senate confirmation. It’s quite a list:
- Secretary
- Deputy Secretary
- Under Secretary — Domestic Finance
- Under Secretary — International Affairs
- Under Secretary — Terrorism and Financial Intelligence
- Assistant Secretary — Economic Policy
- Assistant Secretary — Financial Markets
- Assistant Secretary (Deputy Under Secretary) — International Affairs
- Assistant Secretary (Deputy Under Secretary) — Legislative Affairs
- Assistant Secretary — Management and Chief Financial Officer
- Assistant Secretary — Public Affairs/Director — Policy Planning
- Assistant Secretary — Tax Policy
- Chief Counsel — Internal Revenue Service/Assistant General Counsel for Tax
- Commissioner — Internal Revenue (five-year terms of office)
- General Counsel
- Inspector General
- Inspector General — Tax Administration
- Treasurer — United States
The White House has responsibility for appointing these 18 positions. Those appointments get handled by the Senate Finance Commitee, which after receiving the formal nominations, has to do background checks and other information gathering to prepare committee members for their hearings. It takes some time to get a nomination from the White House to a confirmation vote, but the clock doesn’t start — it can’t start — until Obama makes each nomination.
How many of these positions has Obama filled with a formal nomination? According to the White House website, this many:
- Secretary – Tim Geithner
That’s it. Just the one nomination, for what Barack Obama says is his greatest priority and gives as an excuse for his diplomatic incompetence. And these are just the political appointments that require Senate confirmation. It will take weeks to fill these positions even after the appointments get made, but Obama hasn’t even gotten to Step 1.
One of the basic tasks of any executive is staffing. In fact. it’s one of the chief complaints Republicans have with their new RNC chair, Michael Steele, who canned the staff and has yet to replace them. Obama has the responsibility to staff all of the positions in his administration, and especially where he keeps claiming his attention is placed. Instead of making it a priority,, Obama has left Treasury bereft of senior leadership. The failure to staff Treasury speaks volumes about his priorities – and his competence.
Update: I wanted to make sure that people understood that Obama hasn’t nominated anyone for these positions. The Finance Committee can’t process what they don’t get. I tightened up the language to make that clear.
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Why has Obama neglected Treasury?
He doesn’t need all those pesky people around to tell him how to do things. He’s got this!
fumpbump on March 11, 2009 at 12:56 PM
He hasn’t neglected them, it’s just that nobody in their right mind would climb aboard the Titanic after it had already hit the iceberg and was listing heavily to port.
wv619 on March 11, 2009 at 12:56 PM
The Gong Show.
beatcanvas on March 11, 2009 at 12:56 PM
A “Treasury” Department is irrelevant to a command economy. What Obama needs is a Politiburo.
OhEssYouCowboys on March 11, 2009 at 12:58 PM
Hey, look over there, it’s Rush Limbaugh!
CK MacLeod on March 11, 2009 at 12:58 PM
Too busy shopping for kitschy gifts for world leaders.
OmahaConservative on March 11, 2009 at 12:58 PM
It’s above his pay grade…
sabbott on March 11, 2009 at 12:58 PM
This is what happens when you let academics run the farm equipment. Fingers, hands and arms go missing.
patrick neid on March 11, 2009 at 12:58 PM
A little from column A, a little from column B…
If he’d staffed these positions about a month and a half ago, people would probably have accepted them.
Now that he and Geithner appear to be a total incompetents, nobody wants to get tarred by association with them.
teke184 on March 11, 2009 at 12:59 PM
Because it’s a Bush Depression?
Del Dolemonte on March 11, 2009 at 12:59 PM
He is waiting until the demand grows to appoint someone anyone then he will fill the dept with liberal/marxist who the senate will vote for because they are warm blooded and breathing
unseen on March 11, 2009 at 1:00 PM
He’s tired, he’s overworked, he’s on the verge of a breakdown, all leading to the Obama-depression.
getalife.
JiangxiDad on March 11, 2009 at 1:01 PM
But, but…. who is Trig’s mama?
faraway on March 11, 2009 at 1:01 PM
A lot more of them would be filled by now if you people would stop complaining about every little thing for everyone who is nominated or suggested. Sheesh. So they didn’t pay their taxes. So they have no experience. Blah blah blah dead hookers in the trunk blah blah blah. Are you ever satisfied?
Jazz Shaw on March 11, 2009 at 1:01 PM
Because he “wants America to fail.”
…the bastard!
ErinF on March 11, 2009 at 1:01 PM
This is what you get with electing someone with NO executive experience.
RedSoxNation on March 11, 2009 at 1:01 PM
Why has Obama neglected Treasury?
……..
B/C he plans on just collecting it all.
Say goodbye to your treasure.
artist on March 11, 2009 at 1:02 PM
where are the bodies hidden?
custer on March 11, 2009 at 1:02 PM
I credit Barry with fixing the economy. – Getalife. 3/10/09
lorien1973 on March 11, 2009 at 1:02 PM
Seems like some executive experience would come in handy right now.
patriette on March 11, 2009 at 1:02 PM
Just heard an Osama Obama soundbite on the news, followed by a clip of Geithner.
Both need to go, and today isn’t soon enough.
I despise the child-president. And I despair for my country.
MrScribbler on March 11, 2009 at 1:02 PM
It’s time for Obama to give another major speech on race.
faraway on March 11, 2009 at 1:02 PM
Because he’s got all the Hope and “Change” that he’ll ever need!
elderberry on March 11, 2009 at 1:02 PM
Obviously, he can’t provide for those jobs without a second Stimulus Response Bill.
CK MacLeod on March 11, 2009 at 1:04 PM
Bamby has plenty of time to attack private citizens, and sign away our children’s future, but he doesn’t have time to actually read the bills he’s signing, nor does he have the time to staff appropriately.
He does have the time to organize special parties at the WH for his family and the families of all whom he owes…
Moron with ears…
Keemo on March 11, 2009 at 1:04 PM
Because he can’t stand Geithner, either.
BigD on March 11, 2009 at 1:04 PM
Some of those appointments aren’t all that important, like Under Secretary — Terrorism and Financial Intelligence.
No big deal.
myrenovations on March 11, 2009 at 1:04 PM
No way! My portfolio can’t handle anymore speeches by the boy king!
fumpbump on March 11, 2009 at 1:05 PM
Treasury isn’t exactly filled with a lot of genius civil servants either. I’ve worked with the Department through the Clinton and Bush years and it’s always the political appointees doing the heavy lifting. Until now it had not been a glamour agency, and people who know a lot about financial markets, revenues, and such have been making money in the private sector. So the lack of appointees is especially critical, and especially inexcusable.
Part of the problm is that Tim Geithner is himself a career bureaucrat without a large circle of colleagues that he could have tapped quickly for some of these senior posts. Hank Paulson brough in a slew of people from Goldman Sachs. And of course, neither the President nor the Vice President had spent any time in the private sector to have anyone they could trust and install right away.
rockmom on March 11, 2009 at 1:05 PM
When’s my next vacation?
B. Obama
JiangxiDad on March 11, 2009 at 1:05 PM
Wait, wait – I got it. If Obama/Geithner produced their plan and staffed Treasury it would be like rewarding the market for bad behavior! That’s it! Surely, conservatives can get behind thinking like that.
CK MacLeod on March 11, 2009 at 1:06 PM
Do you need people to tell you how to crash an economy? Obahmbo can do that all by himself.
He will want help once it is crashed and wants “economic empowerment” for everyone via “leveling the playing field” which is socialism with a big shiny Obama sticker on it.
portlandon on March 11, 2009 at 1:06 PM
When’s my next vacation?
B. Obama
JiangxiDad on March 11, 2009 at 1:05 PM
Soon, as long as it is a perminate one.
milwife88 on March 11, 2009 at 1:07 PM
He’s too busy planning his weekly cocktail parties.
ladyingray on March 11, 2009 at 1:07 PM
Because it is not about ‘fixing the economy’ it is about looting the treasury, and political payoffs which are made more difficult when you have competent staff and auditors.
How much staff did Bernie Madoff have?
Potential candidates are too corrupt to be confirmed, while honest candidates won’t go near this gang.
Skandia Recluse on March 11, 2009 at 1:08 PM
Racism! Racism! The vestiges of racism will never end!
OhEssYouCowboys on March 11, 2009 at 1:08 PM
WHY???
’cause Timmy doesn’t want to have to share the hallways with anyone…
i mean come on, only so many people can skateboard in a hallway…
alexraye on March 11, 2009 at 1:08 PM
We don’t have a base of comparison from which to compare Treasury staffing (for example, I’ve read of similar staffing delays at State, HHS just got a Secretary two weeks ago, and I’m fairly sure Commerce, with all its subagencies, is a disaster as well), to make the claim that the Obama Admin is uniquely ignoring Treasury.
However, given that they premised their entire claim to competence on the Geithner nomination (the super genius who is going to ‘fix’ the economy) and, given the recession/depression, with Treasury possibly having become the most influential department, of the big four (Treas., Justice, State, and Defense), you would think they would have fast-tracked this stuff.
Here’s a crazy idea: why didn’t Obama just keep on the old Bush Treasury staff, at least for 6 months until he could replace them with hackish Dems.
Guess that would have been too much Bush for them to handle.
Robert_Paulson on March 11, 2009 at 1:10 PM
Obviously, Obama spent too much “political capital” rescuing the “only man that can do the job” from his tax cheating past. Now, in order to avoid an embarrassing repeat of that fiasco, POTUS must proceed so cautiously that the nation’s economy suffers while we wait for solutions.
At least his buddy has a job.
FuriousAmerican on March 11, 2009 at 1:10 PM
I think Friedman of the NYT is blaming too much scrutiny for Obama’s and Geithner’s hiring problems.
Pfft. My money is on two problems.
First, if candidates are true Obama acolytes, they probably don’t have the requisite background for positions in Treasury. After all, running around the country with ACORN organizing marches on banks to extort loans from them or pursuing imagined discrimination claims against operating business doesn’t really qualify them to be in Treasury.
Second, if candidates are qualified, they probably want to have nothing to do with the Obama administration. They can see what Obama is doing and, when their stint is up, they don’t want EPIC ECONOMIC and BUSINESS FAILURE on their resumes.
BuckeyeSam on March 11, 2009 at 1:10 PM
But treasury stuff is sooooo passe and boring, can’t bin biden handle this too? – this is a president of excitement, adventure and style, not grunt-ridden desk work. gheeeeeeeshhhh
Ris4victory on March 11, 2009 at 1:11 PM
Sounds like a little tag team effort to keep the thread rolling along. You need to be more subtle. This is fertile ground,.. just a light jab will work.
a capella on March 11, 2009 at 1:11 PM
Most of Paulson’s appointees that he brought in from Goldman were Democrats. I guess the Hopenchange crowd didn;t want to be associated with them though.
rockmom on March 11, 2009 at 1:12 PM
It would’ve worked out fine. Especially after Bush admitted to having to “chuck some of my free market principles …”
It’s just a matter of degree.
OhEssYouCowboys on March 11, 2009 at 1:13 PM
I’m glad the media ignored Obama’s time as head of the Chicago Annenburg Challenge. He and Ayers and a board of head-nodders managed to blow through $161 million trying to improve Chicago public schools. The independent report stated that there was no noticeable improvement.
So, we didn’t see this coming? Let’s face it. This guy is nothing more than an affirmative action hire.
BuckeyeSam on March 11, 2009 at 1:15 PM
The Senate appears they will confirm any tool Obama nominates seeing as how they put a tax cheat in charge of Treasury. Anyone doubt Daschle wouldn’t have passed too or Richardson?
This is another huge embarassment and proof of incompetance for this amateur administration. What was he doing the lamost 3 months between getting elected and the innauguration?
cadams on March 11, 2009 at 1:15 PM
Because he’s too busy insulting America’s allies and praising China’s abilities to have a “green” consciousness? Because he’s worried that Short Round in North Korea will actually start a war? Because he’s getting ready to glad hand Ahmadinejad? Because he’s looking for the next Anti-Semite to put in a foreign policy position? Because he really thinks “the only man who can run the Treasury” can actually do the whole entire thing himself?
mjk on March 11, 2009 at 1:15 PM
Maybe he should call Accountemps until he can fill the appointments.
WashJeff on March 11, 2009 at 1:16 PM
“Hey, BHO here. Get off my back, already. Tim does what Tim does. What do you want, me to interfere with every little decision my staff makes? We’ve got a national crisis here. My wagyu steak is getting cold. And there’s some money problems out there too, I’m told. You want us to rush in and appoint just anybody?
It’s almost like you forgot I won. Go away.”
George Orwell on March 11, 2009 at 1:16 PM
Would you want to work for Little Timmy Taxcheat?
faraway on March 11, 2009 at 1:17 PM
Laughable.
BuckeyeSam on March 11, 2009 at 1:17 PM
Jeez, no wonder the unemployment levels are at all-time highs. The One’s (Hallowed be His name) administration is solely responsible for 3–5% of it.
yomomma on March 11, 2009 at 1:18 PM
There would actually be zero appointments right now, except that in this case Obama had to appoint the guy who collapsed Lehman Bros and got him elected.
econavenger on March 11, 2009 at 1:18 PM
It’s the height of the income tax season. No on is available. And they’d rather take the part-time gig than be associated with Obama’s misguided efforts.
BuckeyeSam on March 11, 2009 at 1:19 PM
Bush had FEMA, Obama has the Treasury.
The banking crisis is Katrina writ large for Obama complete with slow governmental response time, inefficient use of resources, unprecedented huge amounts of government dollars thrown at the problem with nothing to show for it, and a frustrated public looking exclusively to the government to solve their problem.
Obama is stuck because HE said only Government can solve this problem and the same government at his direction has not shown any skill in solving it. The freaking treasury hasn’t even fielded a team and is quarterbacked by a tax cheat who’s only life experience is authoring the failed TARP I.
Angry Dumbo on March 11, 2009 at 1:20 PM
He’s already said he doesn’t understand the markets, and I don’t think he really cares.
After all, it’s all apart of redistribution plan.
What you don’t have, you don’t need.
What you have now, is going away anyway.
Kini on March 11, 2009 at 1:20 PM
He’s too busy pushing his socialistic agenda to worry about petty government positions.
vcferlita on March 11, 2009 at 1:20 PM
Say, are Henrietta Jones and that McDonald’s employee looking for a new gig? Obama might have to buck up for some relocation expenses, though.
BuckeyeSam on March 11, 2009 at 1:21 PM
That’s ridiculous if true. I can think of quite a few state bank supervisors who would be excellent choices for some of these posts and would sail through any vetting process. I can think of a couple of heads of the Federal Home Loan Banks who have already been confirmed by the Senate who could serve.
rockmom on March 11, 2009 at 1:21 PM
He was too buzy patting himself on the back for those 25 police officers he put to work in Ohio. Does he realize that he could really really really help the unemployed by filling these positions in the Treasury?
God Save us.
canditaylor68 on March 11, 2009 at 1:22 PM
Since someone mentioned Rush Limbaugh…
Rush just said that Bill Sammon is reporting that on the morning of 9-11-01, minutes before the attack, James Carvile said to a group of reporters he wanted George W. Bush to fail.
Awkward!
jeff_from_mpls on March 11, 2009 at 1:24 PM
He’s too busy practicing his free throws in case someone challenges him to a pick-up game of hoops at the G20 in London next month.
SassyDarlin on March 11, 2009 at 1:24 PM
This is the incompetence and hypocrisy that makes me want to scream. How can any sane voter not be paying attention to this insane double talk, especially when it comes to the issue that got him in the big house.
sherry on March 11, 2009 at 1:25 PM
I would love to see how many people turned Obama\Timmy Timmy (using SouthPark voice) down.
Maybe I will try to talk my brother, who is a Professor specializing in tax at a major university, to apply and sabotage Obama’s dumb tax policies.
WashJeff on March 11, 2009 at 1:26 PM
Is Obama a closet libertarian with a hands off approach to the economy? Maybe he just intervenes to tax it and not to steer it, it’s actually just half as bad…
FrenchguyinTaiwan on March 11, 2009 at 1:26 PM
He’s making Carter look like a genius.
jewells45 on March 11, 2009 at 1:27 PM
The link to the story is at Drudge (the link).
WashJeff on March 11, 2009 at 1:27 PM
Bill Clinton may have been a policy wonk with liberal tendencies, but thanks to his decade as governor of Arkansas, he was a full-service policy wonk, who at least knew (after being voted out of office following a failed first term) that you had to take care of the boring wonk details you didn’t really care about in order to get to the wonkish stuff you find exciting. Obama’s problem is he’s a very selective wonk, and only wants what he considers ice-cream — big dollar spending projects — while he treats the other stuff as spinach and broccoli, and throws it on the floor.
Spending and reallocating money on pet projects are the things that make his heart and the hearts of his chief advisers go pitter-patter. But while a wholesale reworking on domestic social programs is what they’re in the game for, since none of them have any governing experience at the state level, not only do they not have any knowledge of the boring minutia that makes a government run (or makes an economy recover), they really don’t give a damn about it, and seem to thing the force of Barack’s charisma and the big media’s willingness to spin away any problems is enough to get by (The same holds true about Obama’s foreign policy — He may get mad about something Winston Churchhill did in Africa 110 years ago and take it out on poor Gordon Brown, but overall, Obama’s only desire out of foreign policy is to have other nations praise our new government and for none of them or any terrorist group to attack the U.S., which would force him to reallocation a bunch of his spending spree back into the military).
jon1979 on March 11, 2009 at 1:29 PM
BECAUSE HE WANTS THE ECONOMY TO TANK SO HE CAN MOVE MORE EASILY TO SOCIALISM.
johnsteele on March 11, 2009 at 1:29 PM
Why is everyone so shocked?
Communists do not need a treasury department.
calguyintexas on March 11, 2009 at 1:29 PM
Treasury?…Treasury?…We don’t need no stinkin’ Treasury.
sdd on March 11, 2009 at 1:30 PM
hey, let’s privatize Social Security instead.
sesquipedalian on March 11, 2009 at 1:30 PM
Let’s play devil’s advocate here, okay?
Let’s assume that Barry has set such high ethical standards (McArdle lists them out) that no one qualifies.
Can you imagine; that everyone who is -willing- to working government is corrupt. What does that say about government? That it should be smaller and have less power, right?
lorien1973 on March 11, 2009 at 1:30 PM
all bambi wants to do is read off his teleprompter. and cause the markets to crash further. michelle, my belle, is thinking of allowing him to do other things when she feels he has reduced our economy to an absolute zero.
kelley in virginia on March 11, 2009 at 1:32 PM
None of these titles get the MSM play as “Secretary of the Treasury”.. .therefore, it is a worthless excercise to bother His Oneness with these trivial matters
gatorboy on March 11, 2009 at 1:32 PM
That analogy doesn’t really work because Obama doesn’t have a Nagin or a Blanco standing in his way.
Also, the press isn’t reporting from the scenes of unemployment offices in yellow rainsuits begging Obama to help the people.
myrenovations on March 11, 2009 at 1:32 PM
Personally I think that the reason these positions haven’t been filled yet is because no one wants the job. Think about it, Do you really believe that anyone who has any sort of expertise or gravitas in economics is willing to risk their reputations by signing up to be the Chief drivers and enforcers of Obamanomics, especially considering the effect it has had on investor confidence the markets so far?
Hell even Warren Buffet, a guy who lent his financial gravitas to Obama and suppoted him during the campaign has begun to distance himself from the new regime and its economic policies.
Dreadnought223 on March 11, 2009 at 1:33 PM
I think I’m fianlly starting to catch on. With the economy as it is, I’ve been trying to cut back on some of my expenses around the house. By comparitively shopping around, I’m able to save money by spending less.
So, following the natural extension to that, Obama is taking a step forward towards his lofty goal of saving jobs, and he’s accomplishing this by employing less. (it’s just basic economics, really)
I think a swanky, celebratory party at the White House is definitely in order. He’s worked hard this week; he needs a chance to just chill out for a while.
BlueCollarAstronaut on March 11, 2009 at 1:33 PM
Here’s Friedman. I can’t read these NYT people anymore; it’s too painful. But I heard about it this morning.
http://www.nytimes.com/2009/03/11/opinion/11friedman.html?_r=1&pagewanted=print
Here are a few paragragph:
(emphasis mine)
As far as the third paragraph I quoted, typical Dem view of the GOP. I’m sure that if Obama would step aside and let some grown-ups show him how to proceed, the GOP would step up. Obama is too busy with nonsense to be bothered with addressing the highest priority. No wonder he’s being seen as in over his head.
BuckeyeSam on March 11, 2009 at 1:34 PM
i wish we could have a thread about how much we loathe michelle, my belle. or we could just compare her to our last First Lady.
kelley in virginia on March 11, 2009 at 1:34 PM
This is what happens with Affirmative Action.
benrand on March 11, 2009 at 1:35 PM
Nope… simpler than that…
Anyone of these positions has to get apporved by Congress… which opens up the door to hearings.
Geithner is under Barry’s thumb… he won’t talk about the real problems, or how Barry is making things worse…
Hearings have a pesky habit of allowing questions to be asked… and the LAST thing Barry wants is for someone in his administration, or potentialy in his admin, to have to answer questions.
Romeo13 on March 11, 2009 at 1:35 PM
Spot on.
myrenovations on March 11, 2009 at 1:35 PM
***
Why should President O’Bummer worry about properly staffing Treasury?
***
Pancho Villa never worried about staffing the banks he looted–he just stole the money and moved on to the next target. Ditto for the “messiah”–once he has bankrupted the country he will not need any staff in Treasury any more.
***
John Bibb
***
rocketman on March 11, 2009 at 1:36 PM
oh, its wednesday. bambi can’t get overtired today because tonight is party night.
kelley in virginia on March 11, 2009 at 1:36 PM
That’s pretty much it. The longer the economy remains bad, the easier it is for him to convince the public that they need government programs to help them.
The strategy was mapped out eons ago. The man is a shyster; a total fraud.
Connie on March 11, 2009 at 1:37 PM
Wait, so he “only” has 50 Senior advisers working under him? And that’s only half of what he wants and is somehow not enough to make sure the phones are being answered?
And wouldn’t you assume that if you’re a Senior adviser that you’d also have employees under you?
strictnein on March 11, 2009 at 1:37 PM
Finally, someone besides me is pointing this out. Bless you.
Snowed In on March 11, 2009 at 1:39 PM
Can a President by tried for dieralection of duty? (I NEED spell check!)
petunia on March 11, 2009 at 1:39 PM
Here’s a minor tax point. Obama has said that he’ll let the Bush tax cuts expire for the top two brackets. All brackets expire at the end of this year. Also, at the end of this year, the estate tax disappears for one year.
Has Obama introduced any legislation to address these matters yet? I’d think he’d be working on legislation to extend the Bush rates for those below the top two brackets and to provide a fix for the estate tax.
Crickets.
BuckeyeSam on March 11, 2009 at 1:40 PM
The most intriguing question to come from the lack of nominations is “How many people have been asked to serve, and declined?”
If you want metrics on potential performance, a good measure is to determine the quality of the people chosen as potential nominees who said “no”. I think you’ll find, and time will tell, that from this point forward, the one’s who say “Yes” will in no way be qualified.
Can anyone say Harriet Myers?
BobMbx on March 11, 2009 at 1:40 PM
Seriously folks, just let the man eat his waffle.
DrAllecon on March 11, 2009 at 1:40 PM
Why? Because noone cares. It’s not like anybody is going to ask Obama about this. They are more worried about being in his favor. I think he’s more worried about everything else then the ecomomy. I guess the MSM figures if he doesn’t care they why should we.
Brat4life on March 11, 2009 at 1:40 PM
This man DOES NOT CARE that the economy is in shambles.
WisCon on March 11, 2009 at 1:41 PM
Would someone congratulate Friedman from me for coming up with the dumbest analogy of the week?
No, it’s a lot more as if the house is burning down, but we don’t have any trained firefighters available.
Snowed In on March 11, 2009 at 1:41 PM
Yep, it’s about the people at the top of the previous Ponzi scheme looting the US treasury of the “good free money” while they still have the ability and people are reeling. This is why the stimulus isn’t going to the to low-level working folks at the bottom on the financial pyramid who would actually spend it in a wide distribution throughout the economy including payments to banks for loans and credit cards. It’s also why they waited until the market was near the bottom before changing the uptick rule. Hedge funds needed the technical backdoor in shorting regulations to be able to siphon billions more out of your retirement portfolio.
The goal is to transfer trillions in cash at current value for the big corporations, govt bureaucrats and hedge fund buddies. Then what happens is the little people wait and wait and wait for the economy/stock market to improve so they can get some of the benefit. But the rude surprise is post-looting hyperinflation will act as a false recovery and monster tax on income and savings. It will eventually wipe out everyone who didn’t protect themselves and force them into the arms of Obama who will “care” for them. So average Americans are going to lose the other half of their wealth shortly. That’s the Obama stimulus plan.
econavenger on March 11, 2009 at 1:42 PM
Plus, they have to keep the crisis going until global agreements are made. Everything is being orchestrated to this end.
Connie on March 11, 2009 at 1:42 PM
Ed,
Thank you for doing the work to give us the list of positions awaiting nomination. It certainly indicates that while Obama was ready to rule from Day One, he was not, in any sense, ready to preside and govern responsibly.
INC on March 11, 2009 at 1:42 PM
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