It seems quite plausible that the AIG bonus scandal will stick to Obama more than any of thousands of acts of fiscal skulduggery ever stuck to Bush.
Far be it from me to suggest that Obama violate the tenet of dancing with the ones what brung you*, but perhaps aligning himself with populist interests in a time of economic upheaval just might be a more, well, popular stance than his uniquely American corporatism?
It would be easy for him to reset his reputation. It's called "single payer."
Naturally, the Greatest President Evah (via) will do the right thing....
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* I admit that I was too generous in the linked post, banking (as it were) that the recklessness in the NOW NOW NOW TARP bill that Obama whipped for was merely hush money to keep the pre-election mellow unharshed, rather than merely pump-priming for an ongoing stream of cash that Hank Paulson's golfing buddies can believe in.
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Anyone listening to the hearing?
Jeb Hensarling (R,TX) just laid the blame at the foot of the Obama administration.
No mention of Bush at all. Natch. Everything was fine on Jan. 19, 2009, apparently.
The Geithner role in the first AIG bailout will make this sticky
for Obama--very sticky. Unless the MCM decides to fog that up. Gee, Geithner was such a well-recommended young man, who'd a thunk he was such a tool for Wall Street?
Obama can lay the causes of the Big $hit Pile, the Big Meltdown, and beginning of the Long Recession or whatever it becomes on BushCo. He can lay Bernanke on BushCo.
He can't lay Geithner or his own role in TARP I (the Paulson Fix Is In monies) on BushCo. Obama told us he was working behind the scenes, on the phone with Bernanke, the other Big Boiz daily during the push for TARP I; he whipped the Dems to pass it. It's on his resume. And he chose Geithner to team with Bernanke.
Obama owns the fix attempts, which are now beginning be closely covered -- and found wanting.
I would think Axelrod is putting in 20 hour days on how to fix this politically for Obama. How, and can he succeed?
Well, someone at another blog just said
that Obama will possibly remain even more popular as the economy tanks. Delusional is no way to go through life.
It's the economy, stupid!
Lather. Rinse. Repeat.
NYC ABC late news reporting Dodd admitting his staff removed
language limiting bonuses for TARP recipients from October TARP legislation.
Now, that is accurate to a point, right? But it was the WH that urged the language be removed -- per Jane Hamsher and others on this issue.
Is Dodd falling on his sword for Obama, Timmie, and Larry?
Oh, heard Bob Shrum giving the spin line for why no one protested the AIG bonuses: The lawyers showed up and told everyone the contracts coundn't be broken stuff and, well, they just listened to those lawyers.
Found Jane Hamsher's writeup of her day of hearings on the Hill
Some people are not saying much about compensation or and limits. Dodd says eh was asked by staff from administration to change the language.
Sounds like a stupid mess. Jane was upset that Gibbs tried to stick the mess to Dodd four separate times in his briefing.