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Washington in 60 Seconds: Friendly Fire Roils Republicans
By Patricia Murphy - Politics DailyGood morning Capitolists! Did you feel that slight movement under your feet this morning? It might have been the early signs of a power shift in the country (not to mention the Senate). Read about that and what's happening in Washington in the next 60 seconds: - DeMint is Da Man. Every reporter loves the story of a kingmaker, and after Tuesday's eye-popping primary results, Washington's press corps has anointed South Carolina Republican Jim DeMint the man responsible for taking out eight of the national party's picks for Senate and replacing them on the ballot with Tea Party newcomers. ...
Geithner: Elizabeth Warren Would Be Strong Consumer Chief -- as Would Others
By Jill Lawrence - Politics DailyTreasury Secretary Tim Geithner has nothing but good things to say these days about Elizabeth Warren, the consumer heroine liberals want to head the Consumer Financial Protection Bureau created under the new financial reform law. Geithner has been widely reported to have reservations about Warren, a Harvard law professor and financial watchdog who proposed the consumer agency in 2007. He said Thursday that "she would be a very strong leader" of the new bureau, but made clear there are other good candidates and said twice that the decision lies with President Obama. Warren has "enormous ...
Geithner Tells House Panel A.I.G. Rescue Prevented Depression
By David Sessions - Politics DailyTreasury Secretary Timothy Geithner told members of a House oversight committee that the government had acted "in the best interests of the American people" when it bailed out American International Group last year, the New York Times reports. Geithner said Washington's intervention had helped prevent a "second Great Depression." The House Oversight and Government Reform Committee called Geithner and former Treasury Secretary Henry Paulson to explain how Goldman Sachs ended up with a chunk of the $85 billion that the New York Federal Reserve had marked as a rescue loan for A.I.G in September ...
Obama, on Anniversary of Wall Street Collapse, Kicks Up Drive to Prevent More Meltdowns
By Lynn Sweet - Politics DailyPresident Obama makes a quick visit to Wall Street on Monday for a lunch-hour speech on the economy. A day short of the one-year anniversary of the fall of financial giant Lehman Brothers, which filed for bankruptcy Sept. 15, 2008, Obama will tell the nation that he believes we are back from the brink.But America is far from economically healthy again, and even with an enormous focus on pending health care legislation, the president wants to keep pressure on Congress to pass his package of financial system reforms while the memory of how close the nation was to another Depression is still ...
Geithner Won't Rule Out Tax Hikes
By Patricia Murphy - Politics DailyIn an interview with ABC's George Stephanopoulos yesterday, Treasury Sec. Tim Geithner said that bringing down the federal deficit is crucial to the long-term health of the economy. ...
Drudge: 'Obama to the Rescue' with 497 Point Stock Market Gain
By Tommy Christopher - Politics DailyUpdate: 4:06 pm - My original headline trumpeted a 391 point gain. As you can see, that number has since climbed another 106 points.The stock market has surged today, and many are crediting Barack Obama, by way of Tim Geithner, for the big bounce. Matt Drudge is running a blast headline that says "Obama to the Rescue," and Politico also credits Geithner for the spike.Press Secretary Robert Gibbs has been reluctant before to claim credit for the ups and downs of the stock market, but this is good news for Geithner nonetheless. From Politico:That's because the last time he announced a bailout ...
HuffPo Editor: Geithner's 'Dropped More Balls Than a Drunk Juggler'
By Tommy Christopher - Politics DailyThe piling on of the media onto Treasury Secretary Tim Geithner (pictured here wondering which Jonas Brother he most closely resembles) continues, but Huffington Post editor Roy Sekoff added a bit of hyperbole to which I take strong exception: (video)Roy Sekoff, Editor of the Huffington Post, appeared on CNN to discuss the backlash generated by the bonuses distributed by AIG and what effect it will have on President Obama's agenda. His co-panelists included David Sirota, Rick Newman and Neil Boortz. Roy didn't pull any punches regarding Treasury Secretary Tim Geithner, saying he's "dropped ...
Geithner's Plan Leaked; Krugman Says 'Zombie Ideas Have Won'
By Tommy Christopher - Politics DailyTreasury Secretary Tim Geithner's plan to relieve banks of so-called "toxic assets" has been leaked to the New York Times, and Nobel Economics laureate Paul Krugman (my pick for Treasury Secretary) is less than whelmed: The Geithner plan has now been leaked in detail. It's exactly the plan that was widely analyzed - and found wanting - a couple of weeks ago. The zombie ideas have won. The Obama administration is now completely wedded to the idea that there's nothing fundamentally wrong with the financial system - that what we're facing is the equivalent of a run on an essentially sound bank. ...
President Apologizes For Special Olympics Quip on Leno, But Not for Geithner
By Tommy Christopher - Politics DailyEverybody's talking about President Obama's "Tonight Show" appearance, and the big story is his Special Olympics gaffe. Today, Special Olympics Chairman Tim Shriver says the President called to apologize before the show even aired:"He expressed his disappointed and he apologized in a way that was very moving. He expressed that he did not intend to humiliate this population," Shriver said Friday on ABC's "Good Morning America." Obama, Shriver said, wants to have some Special Olympic athletes visit the White House to bowl or play basketball.He went on to say that remarks like this can be seen as ...
Obama/Dems to Be Blamed for AIG Bonus Scandal?
By Matt Lewis - Politics Daily"AIG is Obama's 'Katrina' -- in terms of an example of government's failure -- and the failure of presidential leadership." ... That's according to former Ohio Secretary of State and Family Research Council Senior Fellow Ken Blackwell. Clearly the AIG bonus story has spurred a huge populist backlash -- building on angst which had previously only been manifest during the Santelli rant -- and subsequent tea parties. But anger over the AIG bailout appears to be just now reaching fever pitch, and it is starting to look like the bonus scandal may be laid solely at the feet of Democrats (they are ...
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