D.C. Insider to Geithner: Watch Your Back
In response to our earlier mention of Altman, a regular BP reader and current DC insider sends along the following:
“Roger has one goal in life—to be Treasury secretary. He has been trying as hard as he can to get it since the Carter administration and made it as far as the No. 2 spot. Now he’s hoping to follow Bob Rubin’s steps and finally get the No. 1 spot. If I were Tim, I would start watching my back if Roger gets the NEC job. Instead of having Larry there protecting him, he will have someone who wants him out ASAP.”
Obama, like Bush before him, cannot break the habit of working backwards through prior administrations errors.
I could not care any less about the Machiavellian intrigue, but if he takes Timmy’s job, is that an improvement or a step backwards?
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November 17th, 2010 at 9:48 am
Geithner has been a disaster. Saving the banks and proving his loyalty to Goldman Sachs, he has destroyed Obama’s legacy and led to the Republican surge.
I want him out.
November 17th, 2010 at 10:01 am
Geithner is there to stay, Barry. Blame the GOP–they’ve filibustered every single Obama appointment, regardless of the appointee. There were appointees who were unanimously supported by both parties in committee, and who were held up for 6-12 months due to the GOP’s automatic filibuster. The goal of this, of course, is to paralyze the administration so General Obama has no colonels, majors, and captains to manage the executive agencies.
Since the Republicans have broken the Senate, the President won’t risk a high-profile confirmation battle that could sabotage the Treasury Department for 6-12 mo.
Oh, and side note–I see that the GOP even filibustered the meeting they were supposed to have with President Obama tomorrow! The GOP would filibuster their bathroom breaks if it wasn’t so durn expensive to buy new Jockeys!
November 17th, 2010 at 10:08 am
I read Altman as strongly aligned with the FIRE sectors therefore no improvement over Summer. Whether he would be an improvement over Geithner is an open question I think but what I’m fairly sure of is that Obama’s political instincts are poor: Another corporatist on his economic team when the economics of international trade and employment are on the top of table makes no sense.
As to whether this particular corporatist is a pal of banker Timmy or a foe, well who cares: This is nothing more than the usual horse race fixation of DC and mass media; if it’s not who’s winning or losing now it’s ‘balance’ as in the shape of the Earth can differ. None of it means squat in terms real policy analysis or action.
November 17th, 2010 at 10:31 am
Seriously who cares? Can anybody be worse that Geithner? Even if Obama somehow wins a second term Geithner isn’t going to be around. To be honest with you I am not sure if the government as we know it will be around.
November 17th, 2010 at 10:42 am
“I could not care any less about the Machiavellian intrigue…”–BR, above
BR,
good position..
As RW, above, points out: “…As to whether this particular corporatist is a pal of banker Timmy or a foe, well who cares: This is nothing more than the usual horse race fixation of DC and mass media; if it’s not who’s winning or losing now it’s ‘balance’ as in the shape of the Earth can differ. None of it means squat in terms real policy analysis or action…”
it is, just, another, major distraction..
~~
maybe, instead, we should be wondering, like these two Journalists, about some of the, potentially, more troubling ‘deeds’ being, actually, carried out by the U.S. Gov’t..
- Mexican Magazine Proceso reveals the location of a US Military-Intelligence Megaplex in Mexico City.
-Megaplex includes offices for the CIA, FBI, DEA, Defense Intelligence, BATF, Department of Treasury and others.
- U.S. Intelligence Operatives will no longer have to disguise themselves as diplomats.
- Mexico will now have a Military ‘Liaison’ for NORTHCOM.
- U.S. is now in charge of all tactical efforts against the drug war, counter-insurgency, and counter-terrorism in Mexico.
- Obama and Hillary Clinton are credited for the creation of the Office of Bi-lateral Intelligence in Mexico (OBI).
Jorge Carrasco and Jesus Esquivel
proceso.com.mx
Translated by Mario Andrade
http://theintelhub.com/2010/11/17/north-american-union-%E2%80%93-%E2%80%9Cu-s-super-spy-center%E2%80%9D-uncovered-in-mexico/
November 17th, 2010 at 10:44 am
Yawn. Who cares? Same old crap.
November 17th, 2010 at 10:48 am
Unless Mr. Altman intends a systemic bankruptcy reorganization, putting an end to the fraud-rife Ponzi scheme that is the U.S. financial system and imposing a Hamiltonian credit system venturing to elevate the physical economy to a state worthy the 21st century (sorry, windmills don’t cut it; what next, wooden shoes?) he’s whistling Dixie.
November 17th, 2010 at 11:39 am
Is this the change that we should believe in?
The FDIC, along with the FBI, is conducting 50 criminal probes into failed banks. The probes will focus on bank executives, and be civil as well as criminal in nature.
http://www.businessinsider.com/fdic-failed-bank-probe-2010-11
November 17th, 2010 at 11:41 am
By the way, Barry, are you going to put some follow up on the FDIC / FBI probes to bank executives?
It would be interesting to know if there are any justice be done to any of the big bank banksters.
November 17th, 2010 at 12:54 pm
Why does it always have to be someone from some prior administration? Obama should not be beholden to this…
its clear to me that the same old song and dance isn’t working anymore…and that we needed change…some people voted for that change in Obama…
instead we get the same old faces in the same old jobs doing the same mistakes and worse…stifling the move forward.
this country needs a new thing that can put people to work in manufacturing, service, and all sorts of other stuff…
one of the things staring us in the face is the propsect of going green using stuff made in the USA…WHY THE HELL AREN”T WE DOING THAT? Everyone knows how much sense it would make AND how much stronger the dollar and our economy would be if we took OIL off of the trade deficit…
Because the same guys beholden to the same interests are getting the same jobs in the same government positions…
November 17th, 2010 at 10:32 pm
And the real answer is sitting there right under his nose: Volcker.