Archive for the ‘credibility’ Category

Obama: Here’s Why Geithner Has To Go: Credibility, Confidence, Competance

March 18, 2009

When reporters start asking “What did he know and when did he know it?” about a presidential appointee: the drimbeat has started.

The simple answer to the question, “When did Geithner know about the AIG bonuses?” is: last year.

“How the Obama administration was caught flat-footed by this controversy dates back to last Fall, when the New York Federal Reserve Bank — then run by Geithner — stepped in to give AIG a high-interest loan for $85 billion to help prevent the company from going under — which Lehman Brothers was doing at the time. As part of the deal, AIG CEO Robert Willumstad was replaced by the new CEO, Liddy,” wrote Jake Tapper of ABC News.

If Geithner didn’t know that his organization didn’t put any limits on AIG bonuses last year and he just shoveled them money without strings: shame on him.

And shame on Obama.  And shame on the Senate that confirmed Turbo Tax Tim.

Geithner: AIG must return bonus money

CBS news said the “White House is in full damage control mode.”

House Minority Whip Eric Cantor (R-VA) said the administration is in “disarray.” 

What few have said about Geithner is easy to see: he would be a handy blame guy for Obama and his Administration.

The AIG mess is not as much about corporate greed as the Administration and the liberal media want people to believe.  It is also about the ineptitude of government.  Turning around the belief that the top Obama people don’t know what they are doing could be resolved at least somewhat by sacking Geithner….

This is now about credibility, confidence, and competance. Without those things; investors won’t flood back into the markets, house buying will be depressed and the overal economic stimulus of buyers buying will not reboud as all of us would like.

The president himself has told us that confidence is the key to recovery.

And leaders like Warren Buffett have urged the president to take dramatic action — like making the economy the number one priority as if  we were in a war….

Well the presidnet is in a war now: a war of credibility, confidence, and competance.

And since Obama has repeatedly said he has no intention of backing away from his agressive spending ways and wants to move his agenda ahead with gusto (saying just yesterday, “I didn’t come here to pass on our problems to the next president or the next generation. I came here to solve them. “): Geithern and the AIG mess stands in the way of the president’s spending agenda and the speed he needs to execute that.

So executing Geithner makes a lot of sense.  It makes the only sense.

Making AIG repay millions after thy got billions may be dramatic to some.  But making the key responsible government representative accounable by firing him would be a necessary step in regaining the president’s own reputation for credibility, confidence, and competance.

Related:
 AIG Bonus Money Is Not The Problem: Government Is The Problem

Obama: Fire Geithner

Jake Tapper:
http://blogs.abcnews.com/politicalp
unch/2009/03/obama-adminis-1.html

CNN:
http://edition.cnn.com/2009/POLI
TICS/03/18/aig.bonuses/index.html

***************

By LAURIE KELLMAN, Associated Press Writer

If not distancing itself from Treasury Secretary Timothy Geithner, the White House is placing firmly on his shoulders responsibility for how the government handled the $165 million in bonuses paid to about 400 executives and traders at American International Group Inc.

“Secretary Geithner last week engaged with the CEO of AIG to communicate what we thought were outrageous and unacceptable bonuses,” White House spokesman Robert Gibbs said Tuesday.

Then he volunteered the answer to a question being asked all over Washington: Did Geithner still enjoy President Barack Obama‘s confidence, given the whopping bonuses the failed insurance giant paid Friday after receiving taxpayer bailout money?

“The president has complete confidence” in Geithner, Gibbs said.
.

Is Obama satisfied that Geithner informed him of the impending bonus payments in a timely fashion?

“Yes, the president is satisfied,” Gibbs replied.

Those, of course, are statements that wouldn’t need to be made if Geithner’s status were clear. Not just a president’s confidence, but his “complete confidence” can be a well-worn political signal that the subject should start circulating a resume.

Read the rest:
http://news.yahoo.com/s/ap/2009031
8/ap_on_go_ca_st_pe/whither_geith
ner_analysis

Barack Obama: Credibility Lost?

February 2, 2009

In two weeks as president, Barack Obama has thrown away his credibility and destroyed trust — more than any other President of the United States in the History of the Republic.

Let’s just say that for the sake of argument.

This is now like bleeding from a thousand cuts.

Related on FEB 3 about 1 PM Eastern:
Daschle Out; Major Obama Setback

Nothing like Bill Clinton’s early-going gays in the military effort or Hillary’s closed door try at revising the American medical system in the dawning days of Bill’s presidency….

But Barack Obama’s preaching about “bipartisanship” was not matched with actions as Nancy Pelosi and other Democrats crafted the economic stimulus package without taking into account Republican viewpoints.

Maybe if Barack had been in the Senate longer he’d know more about bipartisanship….

“We won” Republicans were told, when they objected to certain stimulus package goodies like funding to fight bird flu.

That only saves jobs if workers don’t die at work….

The Treasury Secretary admitted to tax evasion.  Ditto the president’s nominee for HHS, Tom Daschle.

Psst: This is what transparency gets us.  The right thing to do when things like this come up is to ask the guy to withdraw, not ask for an ‘exception.”

Nancy Killefer, who failed for a year and a half to pay employment taxes on household help, has withdrawn her President Obama nomination to be the first chief performance officer for the federal government, the White House said Tuesday.

Chief Performance Officer Nancy Killefer
Nancy Killefer
.
Robert Gibbs
 
White House spokesman Gibbs said, “Nobody’s perfect.”  Did he mean Daschle?

The nominee for Deputy Secretary of Defense used to be a lobbyist.  He’s still in the running, despite the president’s vows against lobbyists and for ethics.

On al-Arabiya TV the president made a plea to Muslims.  So Iran demanded an apology for American wrongs.

Just 11% of U.S. voters think America should apologize to Iran for “crimes” against the Islamic country.

The stimulus bill written by Democrats has a “buy American provision.”  China, Germany and others objected.

Canada hopes U.S. officials will exempt America’s top trading partner from “Buy American” provisions in the economic stimulus bill before Barack Obama arrives in Canada this month for his first foreign trip as president.

The stimulus, meant to create jobs, contained at least two two questionable items  — $75 million for smoking cessation programs and $400 million to slow the spread of HIV and other sexually transmitted disease.  Both  have already been dropped from the most recent draft of the measure.  You can recall others like the sod for the Mall in Washington DC….

Nearly half of U.S. voters (49%) say Barack Obama is politically more liberal than they are.

The president promised to close Gitmo and pull out of Iraq.  He has done neither: but has angered some militay people.

He has cut defense by 10% and started to discontinue the term “war on terror.”

The president has opened an exchange of words with radio personality Rush Limbaugh….

The number of voters saying Obama is more liberal than they thought on election day is growing…..

Tough two weeks.  Even with a dedicated Democratic House and Senate the public can lose trust and confidence …..

John E. Carey
Peace and Freedom

Related:
Mullen: Cash crunch threatens US security, Defense Spending

Obama Orders U.S. Defense Cut 10%

Under Obama, `war on terror’ catchphrase fading

 Obama Team Wants Pentagon Budget Focused More on Current War, Less on Future Programs

Obama Told His Actions On Gitmo Could “jeopardize those who are fighting the war on terror”

Troubling Obama Trends Seen By Some In Military? Why Die For “Limited Goals” In Afghanistan?

Obama’s Unnecessary Muslim Apologia; Misguided on al-Qaeda

US President Barack Obama, seen here on January 29, 2009, sits ... 
US President Barack Obama, seen here on January 29, 2009, sits alongside Treasury Secretary Timothy Geithner

CNN:
http://www.cnn.com/2009/POLITICS
/02/02/campbell.brown.transparenc
y/index.html

The New York Times also has an editorial on Tuesday suggesting that Mr. Daschle should withdraw his name too.

Bill Richardson withdrew after being nominated as Commerce Secretary as a grand jury was at work investigating portions of his state government.