The New York Times inadvertently validated my assertions that Republicans would be wise to recognize the anti-incumbent fever sweeping the nation but in order to keep their credentials as a liberal member of the Robert Gibbs Propaganda Club, found it necessary to embellish the story with their own pro-Obama flavor. The Times reported that a recent Times/CBS poll shows the President with an edge over Republicans in the upcoming election, totally missing the point. All of Congress is entering the election cycle with its lowest approval rating ever and that should be hard to ignore unless of course, you have the additional armor of being the Liberal media’s intellectually elite shock troops.
Of course the poll was crafted in such a way that you had to agree that Bush was totally at fault for our current economic woes; exonerating the President from all responsibility. I will be the first to admit that Bush’s economic strategies were an abject failure and while he was tough on terror, he was no better than a run of the mill, liberal spending Democrat when it came to economic and public policy. What the poll ignores is the duplicity of Obama’s closest advisors in perpetuating that failure which deepened the recession.
It began with the appointments to his cabinet. Tim Geithner had studied international economics in college and his early career placed him in the International Affairs Division of the U.S. Treasury and as an attaché to the United States Embassy in Tokyo. He was also deputy assistant secretary for international monetary and financial policy, senior deputy assistant secretary for international affairs, assistant secretary for international affairs and the Under Secretary of the Treasury for International Affairs.
One would think that resume would have qualified him to be Obama’s Secretary of the Treasury but there are some disturbing issues hidden in his resume too. In 2002 he left the US Treasury to join the Council on Foreign Relations as a Senior Fellow in the International Economics department. He was also the director of the Policy Development and Review Department at the International Monetary Fund; an organization that rarely has the economic interests of the United States at heart but instead, finds itself regularly aligned with the United Nation’s desire to redistribute the wealth of Western democracies to developing nations.
The friends (and enemies) that Geithner made while traipsing around the world seems to have shaped quite a few of his views and it is his “citizen of the world” mindset that made Geithner necessary to Obama’s cabinet. While going through the confirmation process it was found that Geithner had some tax “difficulties” of his own and he dismissed those difficulties, blaming his lack of expertise in using the personal tax preparation program “Turbo Tax” for the discrepancies. Really? A man studied in international economics that just happened to have an early career in the Treasury Department couldn’t figure out how to use a $19.95 computer program to pay his taxes? Well, the Senate bought that excuse so I will let that rest. Not because I believe him, but because there are bigger problems with Geithner than that.
Geithner was President of the New York Federal Reserve in 2003 and Vice Chairman of the Federal Open Market Committee component. In 2006, Geithner became a member of the Washington financial advisory panel “The Group of Thirty” where in 2007, he worked to reduce the capital required to run a bank. Do you see a red flag there? Geithner also arranged the rescue and sale of Bear Stearns and also supported his friend and Goldman Sachs CEO, Henry Paulson, in his bid to promote the bailout of AIG. While billions in taxpayer funds were flowing into Bear Stearns and AIG, Geithner curiously ignored Lehman Brothers, letting them slip into bankruptcy. But hey, friends are friends and all that. The bottom line is that there are number of private economists that say Geithner’s actions severely damaged the United States economy while he played fast and loose with taxpayer funds; favoring friends and destroying enemies.
If that isn’t bad enough, we have Rahm Emmanuel. Emmanuel is noted for having an explosive temper that manifests itself in ways that could be considered damaging for a White House Chief of Staff. Emmanuel had worked on a number of Democratic campaigns including the Presidential campaign of Bill Clinton. While working on the Clinton campaign, he reportedly sent a dead fish in a box to a pollster that was routinely late in providing much needed poll results. In another incident after the 1996 election, Emanuel was so angry at Clinton’s campaign enemies that he stood up at a dinner with colleagues from the campaign, grabbed a steak knife and began rattling off a list of what he considered traitors, shouting 'Dead!” and plunging the knife into the table after each name was called out. It sounds like Rahm’s parents let him watch way too many violent movies as a child.
Unlike many of his current colleagues, Rahm Emmanuel actually had a real job before entering politics and the seedier world of investment banking. Unfortunately for Rahm, his job at a Chicago Arby’s ended suddenly when he lost part of his finger in one of the machines. Considering Geithner’s qualifications as Treasury Secretary include imploding the US Economy as head of the NY Federal Reserve, I am really surprised that Emmanuel wasn’t named to head OSHA or the Department of Health and Human Services; especially when considering his impeccable safety record. However, it is Emmanuel’s cut-throat Chicago style of politics that is the real criteria for his position as Obama’s Chief of Staff. As Chief of Staff, he is one of the orchestrators of the administration’s “blame Bush” campaign and one of the crafters of the Obama “evil greedy banker” policy. He should know; after all, he was an evil greedy banker himself.
Rahm Emmanuel was an advisor to Bill Clinton; a position he resigned from in 1998 to pursue a career in investment banking with Wasserstein Perella. In his two and a half years at Wasserstein Perella, he earned a reported $16.2 million dollars. As an additional favor to his friend, President Clinton named Emanuel to the Board of Directors for the Federal Home Loan Mortgage Corporation ("Freddie Mac") before he left office in 2001. Emmanuel’s position earned him at least $320,000, including later stock sales. Obviously a political appointment, Emmanuel was not assigned to any of the board's working committees; a Board that met no more than six times per year.
During Emmanuel’s time on the board, Freddie Mac was plagued with scandals involving campaign contributions and accounting irregularities. Imagine that? The Obama Administration subsequently rejected a request under the Freedom of Information Act to review Freddie Mac board minutes and correspondence during Emanuel's time as a director. The Office of Federal Housing Enterprise Oversight (OFHEO) later accused the board of having "failed in its duty to follow up on matters brought to its attention." Thanks to Obama’s stonewalling of the Freedom of Information Act request, we will never know the depth of Rahm Emmanuel’s participation in those scandals or how much his actions may have damaged the fiscal stability of Freddie Mac. We can only assume that if Obama’s friend and Chief of Staff were not implicated, that the FOI request would probably have been granted.
Emanuel resigned from the board of Freddie Mac in 2001 when he ran for Congress; eventually filling the seat vacated by another Chicago criminal, former Illinois Governor Rod Blagojevich. Blagojevich is currently on trial for Federal Corruption charges stemming from an investigation that alleges that he (Blagojevich) tried to sell the U.S. Senate seat vacated by Barack Obama when he became President, for cash or favors. Emmanuel kept his Congressional seat until his appointment by Barack Obama to the position of Chief of Staff.
The part that I cannot figure out is how this administration claims insulation from the current financial crisis when so many of Obama’s key appointees played major roles in bringing about the near collapse of the economy? Factually, if the Democrat controlled Congress that Bush was plagued with from 2006 forward, had actually performed their required function of providing oversight for the Federal administration structure, perhaps corrective action would have been taken by Bush that could have mitigated the economic implosion of 2008. Like I said before; friends are friends and enemies are enemies and the Democrats in Congress would have had to crucify some of their own to do that and there was no need to sacrifice them if you had a Republican President you could blame instead.
Monday – Why hasn’t the economy shown signs of recovery? The truths Obama can’t blame on Bush.
Paul
Of course the poll was crafted in such a way that you had to agree that Bush was totally at fault for our current economic woes; exonerating the President from all responsibility. I will be the first to admit that Bush’s economic strategies were an abject failure and while he was tough on terror, he was no better than a run of the mill, liberal spending Democrat when it came to economic and public policy. What the poll ignores is the duplicity of Obama’s closest advisors in perpetuating that failure which deepened the recession.
It began with the appointments to his cabinet. Tim Geithner had studied international economics in college and his early career placed him in the International Affairs Division of the U.S. Treasury and as an attaché to the United States Embassy in Tokyo. He was also deputy assistant secretary for international monetary and financial policy, senior deputy assistant secretary for international affairs, assistant secretary for international affairs and the Under Secretary of the Treasury for International Affairs.
One would think that resume would have qualified him to be Obama’s Secretary of the Treasury but there are some disturbing issues hidden in his resume too. In 2002 he left the US Treasury to join the Council on Foreign Relations as a Senior Fellow in the International Economics department. He was also the director of the Policy Development and Review Department at the International Monetary Fund; an organization that rarely has the economic interests of the United States at heart but instead, finds itself regularly aligned with the United Nation’s desire to redistribute the wealth of Western democracies to developing nations.
The friends (and enemies) that Geithner made while traipsing around the world seems to have shaped quite a few of his views and it is his “citizen of the world” mindset that made Geithner necessary to Obama’s cabinet. While going through the confirmation process it was found that Geithner had some tax “difficulties” of his own and he dismissed those difficulties, blaming his lack of expertise in using the personal tax preparation program “Turbo Tax” for the discrepancies. Really? A man studied in international economics that just happened to have an early career in the Treasury Department couldn’t figure out how to use a $19.95 computer program to pay his taxes? Well, the Senate bought that excuse so I will let that rest. Not because I believe him, but because there are bigger problems with Geithner than that.
Geithner was President of the New York Federal Reserve in 2003 and Vice Chairman of the Federal Open Market Committee component. In 2006, Geithner became a member of the Washington financial advisory panel “The Group of Thirty” where in 2007, he worked to reduce the capital required to run a bank. Do you see a red flag there? Geithner also arranged the rescue and sale of Bear Stearns and also supported his friend and Goldman Sachs CEO, Henry Paulson, in his bid to promote the bailout of AIG. While billions in taxpayer funds were flowing into Bear Stearns and AIG, Geithner curiously ignored Lehman Brothers, letting them slip into bankruptcy. But hey, friends are friends and all that. The bottom line is that there are number of private economists that say Geithner’s actions severely damaged the United States economy while he played fast and loose with taxpayer funds; favoring friends and destroying enemies.
If that isn’t bad enough, we have Rahm Emmanuel. Emmanuel is noted for having an explosive temper that manifests itself in ways that could be considered damaging for a White House Chief of Staff. Emmanuel had worked on a number of Democratic campaigns including the Presidential campaign of Bill Clinton. While working on the Clinton campaign, he reportedly sent a dead fish in a box to a pollster that was routinely late in providing much needed poll results. In another incident after the 1996 election, Emanuel was so angry at Clinton’s campaign enemies that he stood up at a dinner with colleagues from the campaign, grabbed a steak knife and began rattling off a list of what he considered traitors, shouting 'Dead!” and plunging the knife into the table after each name was called out. It sounds like Rahm’s parents let him watch way too many violent movies as a child.
Unlike many of his current colleagues, Rahm Emmanuel actually had a real job before entering politics and the seedier world of investment banking. Unfortunately for Rahm, his job at a Chicago Arby’s ended suddenly when he lost part of his finger in one of the machines. Considering Geithner’s qualifications as Treasury Secretary include imploding the US Economy as head of the NY Federal Reserve, I am really surprised that Emmanuel wasn’t named to head OSHA or the Department of Health and Human Services; especially when considering his impeccable safety record. However, it is Emmanuel’s cut-throat Chicago style of politics that is the real criteria for his position as Obama’s Chief of Staff. As Chief of Staff, he is one of the orchestrators of the administration’s “blame Bush” campaign and one of the crafters of the Obama “evil greedy banker” policy. He should know; after all, he was an evil greedy banker himself.
Rahm Emmanuel was an advisor to Bill Clinton; a position he resigned from in 1998 to pursue a career in investment banking with Wasserstein Perella. In his two and a half years at Wasserstein Perella, he earned a reported $16.2 million dollars. As an additional favor to his friend, President Clinton named Emanuel to the Board of Directors for the Federal Home Loan Mortgage Corporation ("Freddie Mac") before he left office in 2001. Emmanuel’s position earned him at least $320,000, including later stock sales. Obviously a political appointment, Emmanuel was not assigned to any of the board's working committees; a Board that met no more than six times per year.
During Emmanuel’s time on the board, Freddie Mac was plagued with scandals involving campaign contributions and accounting irregularities. Imagine that? The Obama Administration subsequently rejected a request under the Freedom of Information Act to review Freddie Mac board minutes and correspondence during Emanuel's time as a director. The Office of Federal Housing Enterprise Oversight (OFHEO) later accused the board of having "failed in its duty to follow up on matters brought to its attention." Thanks to Obama’s stonewalling of the Freedom of Information Act request, we will never know the depth of Rahm Emmanuel’s participation in those scandals or how much his actions may have damaged the fiscal stability of Freddie Mac. We can only assume that if Obama’s friend and Chief of Staff were not implicated, that the FOI request would probably have been granted.
Emanuel resigned from the board of Freddie Mac in 2001 when he ran for Congress; eventually filling the seat vacated by another Chicago criminal, former Illinois Governor Rod Blagojevich. Blagojevich is currently on trial for Federal Corruption charges stemming from an investigation that alleges that he (Blagojevich) tried to sell the U.S. Senate seat vacated by Barack Obama when he became President, for cash or favors. Emmanuel kept his Congressional seat until his appointment by Barack Obama to the position of Chief of Staff.
The part that I cannot figure out is how this administration claims insulation from the current financial crisis when so many of Obama’s key appointees played major roles in bringing about the near collapse of the economy? Factually, if the Democrat controlled Congress that Bush was plagued with from 2006 forward, had actually performed their required function of providing oversight for the Federal administration structure, perhaps corrective action would have been taken by Bush that could have mitigated the economic implosion of 2008. Like I said before; friends are friends and enemies are enemies and the Democrats in Congress would have had to crucify some of their own to do that and there was no need to sacrifice them if you had a Republican President you could blame instead.
Monday – Why hasn’t the economy shown signs of recovery? The truths Obama can’t blame on Bush.
Paul
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