They're turning on him already.
Posted on 11/27/2008 4:37:31 AM PST by paulycy
Should some of the same people who helped get us into this Wall Street meltdown mess be relied upon to get us out? And is it OK if the colleagues and mentors of the new Obama economic team make millions and maybe billions along the way? President-elect Obama seems to think that the answers to those two questions are “yes,” and “yes”—and his appointments today proved it.
Tim Geithner, the pick to be the next Treasury Secretary, is the current president of the Federal Reserve Bank of New York, where he was intimately involved in all the bailout decisions of the past year, including the decision to bailout AIG, the insurance giant.
Back in October, right here on FOX News, I noted that the CEO of Goldman Sachs, Lloyd Blankfein, was in the room when the bailout decision was made—a decision which, according to The New York Times, protected a $20 billion Goldman Sachs position with AIG. And, of course, Goldman Sachs is the Wall Street firm once headed by the Treasury Secretary Hank Paulson. I compared that incestuous financial relationship to the Teapot Dome scandal of the 20s, but the Obamans don’t seem to agree.
(Excerpt) Read more at foxforum.blogs.foxnews.com ...
We are in the era of the "CTM" - Corruption Tolerant Media
Obama Corruption is NOT Fit to Print
"The American Republic will endure until the day Congress discovers that it can bribe the public with the public's money."
May God help us survive the past and present decades of a deficit of statesmen. We must also do our part with unrelenting criticism and vigilance.
Regards . . . Penny
Hussein intends to reward the blue states at the expense of the red. This incompetent fool is going to do the same for the US that his namesake did for Iraq.
He and the Democrat Congress intend on rewarding West Coast and East Coast liberals. States like Michigan, Ohio, and Indiana are not even on his radar screen.
One thing that should become painfully clear over the next few years, but probably will not, is that the interests of coastal liberals and Democrats are in major conflict with Midwest liberals and Democrats. Midwest liberals worry about jobs, homeless, welfare, etc., while coastal liberals are all about the environment and punishing success. This is why money is thrown and New York banks, but automakers get no respect.
This natural conflict should create a major opportunity to turn the Midwest red - as the South turned red in the 60's when they discovered Democrats did not represent their values. Will the Republicans take advantage of the upcoming opportunity? Not with its current leadership.
They're turning on him already.
Things must be bad if Toles is snarking at the libs.
States like Michigan, Ohio, and Indiana are not even on his radar screen.
I think you are so far off base you have missed what may be the cornerstone of impending Democratic strategy. My guess is that they are going to flood the Midwest (the rust belt) with enormous dollars starting with the auto bail out. My guess they are looking to flip the states you named well within the Democratic sphere. My guess is they will also be coming after Kentucky and Missouri employing exactly the same strategy of rebuilding legacy industries.
It would be disastrous for the Republicans or conservatives to oppose these initiatives.
As I pointed out here, Toles isn't the only one.
I'm kind of thinking we ought to sit back, shut up, and watch them eat their own. :-)
I guess that is why the kicked Dingll, a Michigan Rep and Automotive advocate, out as House energy and commerce committee chairman and replaced him with Waxman, a left coast ultra environmental wacko, who hates the auto industry. Michigan is likely to have an unemployment rate approaching 25% in two years.
“I guess that is why the kicked Dingll, a Michigan Rep and Automotive advocate, out as House energy and commerce committee chairman and replaced him with Waxman”
Great point, I had forgotten about that change. You clearly won that point. But, I still think that they are going to pour so much money into the mid west it will seem like a cash flood.
Did these auto execs handle the hearing in the best manner? No. Were they treated with respect by either Democrats or Republicans? No way. They were treated like petulant children in need of a good spanking.
You may be right, but I think there is a major fault line beginning to be exposed in the Democrat party, and currently coastal liberals (who hate Detroit) are running the show.
Let's keep a close eye on upcoming events.
Paying off the bankers financiers seems to be the object of this whole bailout procedure, paying them off with the remains of America’s assets before the whole economy completely collapses. They can get it all offshore and in forms immune to the hyperinflation that is coming..
And he was right. Barring a miracle, with nearly half the country not paying an taxes, America will not survive much longer. Because politicians are adverse to using one word: No. It is pathetic we have such a lack of guts and courage, and it is pathetic that so many Americans only look at their own concerns or pocketbook when it comes to voting. Narcissism will be our destruction.
concidering who he is appointing it looks like the Clintoons are back in the WH.
He has no plan. He is the biggest joke we’ve ever put in the Oval Office.
Less experience than Carter, more self-obsessed than Clinton, more machavellian than Nixon, more liberal than Lyndon Johnson or FDR, and worse at telling jokes than George H.W. Bush (did you see his last two attempts at being funny???? He is AWFUL.).
“No way. They were treated like petulant children in need of a good spanking.”
I fear that on this issue I have great difficulty retaining a non emotional perspective. I was so frustrated by their appearance, the union guy and the Ford president were okay but the other two were very weak.
I also am somewhat influenced by the optics that come from knowing that the president of Toyota makes $1m a year and the president of GM makes $15m. Toyota has a $5b profit and GM has $15b loss. We don’t need to say too much about Wall Street. I own shares in Goldman, they are less then half their value now and I hear the president (Blankfien) takes a $50m bonus and the top 10 executives each got a $25m bonus.
Like many others who saw their 401k investments depleted, I believe a few people need to be spanked. It may not be the role of government to discipline these guys but, would you trust them with billions and billions of taxpayer funds without some kind of guarantees and appropriate controls.
I disagree with you on one point—Michigan will be bailed out—remember, MI has a large muslim population along with a large and corrupt union influence.
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