Jack & Jill Politics

Hat tip: Craig Hickman

On CommonDreams.org

Published on Saturday, May 2, 2009
Mortgaging the White House
by Bill Moyers and Michael Winship

Finally, here we are at the end of this week of a hundred days. As everyone in the western world probably knows by now, this benchmark for assessing presidencies goes back to Franklin Delano Roosevelt, who arrived at the White House in the depths of the Great Depression.

In his first hundred days, FDR came out swinging. He shut down the banks, threw the money lenders from the temple, cranked out so much legislation so fast he would shout to his secretary, Grace Tully, “Grace, take a law!” Will Rogers said Congress didn’t pass bills anymore; it just waved as they went by.

President Obama’s been busy, but contrary to many of the pundits, he’s no FDR. Our new president got his political education in the world of Chicago ward politics, and seems to have adopted a strategy from the machine of that city’s longtime boss, the late Richard J. Daley, father of the current mayor there. “Don’t make no waves,” one of Daley’s henchmen used to advise, “don’t back no losers.”

Your opinion of Obama’s first 100 days depends of course on your own vantage point. But we’d argue that as part of his bending over backwards to support the banks and avoid the losers, he has blundered mightily in his choice of economic advisers.

Last week, at a hearing of the Congressional Oversight Panel (COP) monitoring the Troubled Asset Relief Program (TARP), Treasury Secretary Timothy Geithner tried to correct AFL-CIO General Counsel Damon Silvers. “I’ve practiced law and you’ve been a banker,” Silvers said. Never, Geithner replied, “I’ve only been in public service.”

We beg to differ. Read Jo Becker and Gretchen Morgenson’s front-page profile of Secretary Geithner in Monday’s New York Times, and you’ll see how Robert Rubin protégé Geithner, during the five years he was running the New York Federal Reserve, fell under the spell of the big barons of banking to whom he would one day help shovel overly generous sums of money at taxpayer expense.
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This week, as Senate Majority Whip Richard Durbin of Illinois unsuccessfully fought for a congressional amendment he said would have helped 1.7 million Americans save their homes from foreclosure, the senator told a radio station back home that, “The banks — hard to believe in a time when we’re facing a banking crisis that many of the banks created — are still the most powerful lobby on Capitol Hill. And they frankly own the place.”

He could say the same of the White House.

Rest of article at link above.

There is a reason so many of us here at JJP have serious doubts about Fredo and Summers and whether they are serving The President. I’ll say it: I don’t think their primary loyalty is to The President of the United States, and him listening to these crooked clowns could lead to him being a one-term President.