« An open letter to the American people or “Thank you, sir, may I have another?” | Don Key's Blog | The Warren Report and the Magic Bullet Theory »
Geithner and Sumners Should Go
...and no more "good money after bad" TARP funds.
(and unicorns should run free)
Advertisement
I just had this crazy notion.... Everyone groaned collectively when Obama appointed these guys....
What if the point was to get rid of them, after they did the, er, dirty work?
March 18, 2009 10:11 PM | Reply | Permalink
Nah, we know the truth -- one of Obama's strength is that he's brave enough to make decisions that make us groan.
Problem is -- sometimes we groan because we're right.
And sometimes he defies us because he is.
This time, we're right.
March 18, 2009 10:21 PM | Reply | Permalink
How have you determined already that you were right?
March 18, 2009 11:12 PM | Reply | Permalink
Destor is right uncomfortably often. The bastard.
=D
March 18, 2009 11:39 PM | Reply | Permalink
Wouldn't put it past 'em, Bwak. This was really a test (they've never got my 'dashboard' fixed) but glad to see some comments. I just posted this off the top of my head but do think a change is needed (if I thought about it, I'd probably worked Rahm Emanuel's name in there). I also think it would be in Obama's political interest to scapegoat the actual goats (though he would likely wait until forced to, see Rev. Wright).
But, he's backing his boy (for one thing he has no one else with the credentials to take over, and Geithner has no back up either). Turns out the stringent vetting process have left hundreds of junior positions unfulfilled. America is a great country with unmatched talent in almost every field. Isn't there one honest, expert, overachiever from outside Wall Street on this planet who can lead us out of purgatory? We could offer them huge bonuses!
March 18, 2009 11:17 PM | Reply | Permalink
they've never got my 'dashboard' fixed
Posting a blog was step one. Now you have to "follow" someone by clicking "follow" until it says "following" on their page. It should work then, you should get all the replies to your comments (and blog posts) on your dashboard. The dashboard function doesn't work until you follow at least one person not yourself.
March 18, 2009 11:35 PM | Reply | Permalink
I seem to recall one had to get an avatar, too.
March 18, 2009 11:38 PM | Reply | Permalink
I don't think so, bwak, as the dashboard worked fine for me with the default avatar, which I used quite a while, and I also have seen several people without one whose responses to me suggest that they have a working dashboard.
March 18, 2009 11:41 PM | Reply | Permalink
Um, sssshhhhhhh
March 18, 2009 11:45 PM | Reply | Permalink
And a suggestion Don, if you're going to go away for like a week and then come back, and you want to still be able to see replies to your comments, pick someone to follow that's not very active and pick only one person. Cause what the dashboard does is supply you with links to everything that person posts and recommends, and it only holds a limited amount. You can "unfollow" quite easily though, just by clicking on the button again, so it can be used for temporary "following."
March 18, 2009 11:50 PM | Reply | Permalink
So follow Arta.
=D
March 18, 2009 11:53 PM | Reply | Permalink
Thanks for the suggestions, AA. Funny, I was gone for a few months, and coming back, I can see replies to my comments but can't see my comments themselves (if no one replies, I soon lose that thread).
I contacted TPM and for about 10 minures, I could see my most recent comments, then nothing. My blog post page was also blank, but seems to be working now. I will follow someone and see what that does (i was never a "joiner'). I won't follow you because your posts and comments are voluminous.
Bwak, I'm thinking of a hungry fox for an avatar. whay'd'ya think? :)
March 19, 2009 12:13 AM | Reply | Permalink
There was a long standing problem with the updating of people's comments lists and recommends lists not updating until one posted a blog or a comment on one's own blog. Dashboards were not affected, they were always current and immediate. The tech manager Al Shaw worked hard on fixing that, and most people don't seem to have any problems now, but I don't know if they got every last glitch (I think maybe recommend lists still don't update until you post something on your own blog, I haven't checked in a while.) Maybe your problems have something to do with that. In any case, there is a mysterious technical relationship between getting all the features and publishing a blog or a comment on one's own blog. If you are having problems, it is always good to try that. You will find that people who have never posted a blog here have a very odd looking comments page, and that's why.
March 19, 2009 1:45 AM | Reply | Permalink
Fine!
(shuffles feet and gulps)
At least you don't want to be a feather duster.
=D
March 19, 2009 8:01 PM | Reply | Permalink
Krugman?
March 18, 2009 11:39 PM | Reply | Permalink
At least for Sumner's advisory position...
March 19, 2009 12:16 AM | Reply | Permalink
Can't say for Summers but I thought Geithner was a bad pick right from the start. As chairman of the NY Fed while there was a lot of crap going on disqualified him. I thought that was a no brainer. Apparently some other people thought differently.
Who ever got these jobs may not have made any difference because anyone who has what it takes to fix the mess probably also knew how broken it was and was probably a player to some extent. I suspect that's got something to do with why Krugman has kept himself at arms length. Anyone in the know recognized this was mission impossible. Entering into the fray carried no assurance of getting out alive. There is probably no middle ground either. Patch it up with bandaids or do major surgery.
March 19, 2009 7:45 AM | Reply | Permalink
Good points and I agree, tpc. Using your metaphor, I'm not sure what course they are taking. The $trillions they're dropping like confetti onto Wall Street doesn't seem like a bandaid but isn't addressing the root of the problem either. I think the patient needs a heart transplant.
While there have been a few televised hearings where CEOs were drilled, they've only been precursors to handing over the bail-out ransoms.
Where are all of the high-profile finance committee meetings and public high-level commissions interrogating the players and blue ribbon panels with expert economists and academia from the world over making recommendations for radically reforming and regulating the whole financial system (rhetorical question)?
March 19, 2009 3:37 PM | Reply | Permalink
I'm starting to think a lot of what we've seen is window dressing. Purely for public consumption. I don't believe anyone really thinks there hasn't been some shady stuff went on. The unit of AIG in question was fined $80M a few years back and more recently the internal auditor was restricted by Cassano from doing his job. The CDS products they were peddling (insuring) with AAA ratings in no way should have had that rating and AIGFP had to have known that. I am really starting to think this is a huge load of bull and a lot of people in Washington know it and are trying like hell to distract the American public from putting all of this together. I suspect Geithner knew all of this. Remeber that in 2002 (?) the FBI sent up a flag that there was a lot (immense was their term) of mortgage financing fraud going on and that it was nearing 'epidemic proportions'. That dropped off the radar after they released the information. I suspect it was quashed by persons in the Bush administration.
Too many things that quite apparently are connected went on and it would be bad if someone really looked very hard at this. Compound that with all the $ taxpayers are getting whacked for and you have some serious fraud. You really have to work hard to lose tens of trillions of dollars.
March 19, 2009 8:02 PM | Reply | Permalink