via Skeptical Brotha
Obama Might Keep Paulson During Transition
Nick Timiraos reports on the presidential race and the financial rescue.Barack Obama said in an interview to air Sunday evening that he’d consider keeping Treasury Secretary Henry Paulson on a transition team given the intricate challenges facing the financial system right now.
“That doesn’t necessarily mean that he’d end up being the secretary Treasury, but I think it’s important for us to make sure that those who are currently in charge when it comes to the financial crisis and defense and intelligence, that they are deeply involved in the transition process,” Obama told CNBC’s John Harwood during an interview in Charlotte, N.C., on Sunday.
Both campaigns have already considered elements of their transition, and The Journal reported in July that the Obama campaign was considering asking Defense Secretary Robert Gates to stay on.
That's crazy. He was instrumental in creating the problem when he was running Goldman Sachs.
We already know what he wants to do. As a member and former chairman of The Committee on Capital Markets (an unofficial group that still directs the Bush's economic policy) this is his agenda.
Among the issues to be considered are whether laws need to be changed to limit both civil and criminal liability for companies, auditors and directors. One matter Mr. Scott cited is the proper role of state governments in financial market issues, including the cases brought by Eliot Spitzer, the New York State attorney general.
The committee will consider whether Section 404 of the Sarbanes-Oxley Act, which requires audits of internal controls at corporations, should be changed. Critics say that such audits are too expensive and have kept foreign companies from listing their securities in the United States.
Mr. Scott said the committee would also review whether the Securities and Exchange Commission needed to adopt better procedures to weigh the costs and benefits of its regulations, and whether some other government agency should be charged with reviewing those decisions.
The final area to be discussed, he said, is shareholder rights, including the efforts of hedge funds to force changes in corporate policies, and whether shareholder approval should be required for takeover defenses.
Personal irresponsibility. The bare-naked bail-out he wants fits right in there. If you have to believe this crap he's pedalling, Chris Dodd's plan is much better. I note though that the $700 billion limit is barely a notion in Dodd's bill. It says the limit isn't on the grand totl spent. It's on the price paid for the total CMOs held at the particular moment you check.
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Obama has always stated he
Obama has always stated he would like to assemble a "team of rivals" in reference to Doris Kearns Goodwin's study of Lincoln's leadership. Do you think there is any merit to this idea, or is it just a bunch of bs?
Do you think there is any
I don't know if Obama means it or not but it is a bad idea. The historical context and objective circumstances that Lincoln was facing are vastly dissimilar to what Obama will be facing if he becomes president. In addition, sometimes I think Obama just likes to send signals to the country's intellectual class that he has read their books and articles. It makes them feel good and allows him to convey the impression that he takes them seriously. If he were serious then he would have put Clinton on the ticket and he didn't.
Your rivals must have the
Your rivals must have the same goal or it's a bunch of BS.
why let your man be hung with this crap?
there are a number of folks Obama could choose, but this boondoggle?
Jeffrey K. Tulis
Great political maneuver. I believe PT is correct in his assessment. For Obama this past week marked his complete and absolute approval by the power elite. This was truthfully expressed by Will and Brooks.
ot: under the you can't make this shyt up file
McCain aide: Palin has ‘metaphorical’ foreign policy experience.»
Since Sen. John McCain (R-AZ) announced Alaska Gov. Sarah Palin as his running mate, both he and Palin have argued that her state’s proximity to Russia counts as foreign policy experience. Noting that this claim “stands on flimsy ground,” CBS News’ Scott Conroy tried to get the McCain-Palin campaign to provide “practical experience Palin had with Russia.” While the campaign largely stonewalled Conroy, one anonymous “senior campaign aide” argued the experience was “metaphorical“:
A senior campaign aide who agreed to speak on the condition of anonymity admitted that Palin’s knowledge of Russia may be limited to the way someone from Miami might obtain a general feel for Latin America.
“It is very much being able to look off the tip of Alaska,” the aide said. “Metaphorically, I’m talking about.”
http://thinkprogress.org/2008/09/22/palin-russia-metaphorical/
Democracy Now
Check out what Senator Bernie Sanders, journalist Robert Scheer and economist Dean Baker have to say about this financial crisis. Obama does not come off well if you listen between the lines.
http://www.democracynow.org/2008/9/22/sen_bernie_sanders_robert_scheer_and
Metaphorical Foreign Policy Experience
If living in Miami could give you a general feel for Latin America, then living in New Orleans could give you a good feel for France, Latin America and west Africa.