Lindsay Graham Mocks Tim Geithner.



During the battering at Chairman Kent Conrad's Senate Finance Committee, the urbane senator from South Carolina, no one's notion of a GOP tough guy, remarked to the Treasury Secretary:
"This is not easy and you don't have your team in place. And if you're looking for a way to serve the country, join the Marines or go to Treasury."
The breaking news of the evening is that another President Obama nominee to be Deputy Secretary (No. 2) of the Treasury, the Wall Street mouthpiece and rainmaker Rodgin Cohen of the swank Sullivan, Cromwell, has quit the nomination process and walked away from Geithner's team. This is the second name to quit the nomination process for No. 2 -- last week it was SEC veteran Annette Nazareth -- and the third big name to abandon Treasury on two weeks, along with Caroline Atkinson, who walked away from another top Treasury post. The pattern is that public acclaim it is not worth public strife. Treasury is the War Department of the Obama administration, the front lines in the battle with the worldwide panic. When Lindsey Graham called Treasury the same as the Marines, we all got the point that this struggle will continue for the first term of the President.
Treasury Is Slow and Weak.

The senators probed and toyed with Tim Geithner, and he was not impressive in his own defense. The senators complained that Tim Geithner was unconvincing. They did not say he looked like a rookie pitcher facing the 1927 Yankees. (Nor did any wit suggest that Tim Geithner made the usual fuddy-duddy senators look like the 1927 Yankees.) The senators are just warming up. Kent Conrad doesn't like the way the Obama budget spends healthcare's $600 billions, and he will renovate the bill for his own purposes. Same for the others with regard energy and education. (And Kent Conrad teased Tim Geithner about the markets being up 100 points as he closed his testimony -- a demonstration that the Congress has watched the bear market closely and doubts that the White House is paying mind to the screaming of the investor class.)
Enemy Action.
After seven weeks, the Obama administration has run up against an imperial Congress and yet doesn't have an imperial plan. What the President does have is a sluggish Treasury and a slow-footed Treasury Secretary. It will only get worse, as Tim Geithner and his junior staff now airlift to London for a fiance minister meeting to prepare for the G20 meeting on April 2. Our allies watch cable TV too, and they know that Geithner does not enjoy the respect of the Senate nor the back-slapping confidence of the semiotic-rich and theatrical new president. (Note: below, Mr. Obama grips the hand of acerbic Jamie Dimon of JP Morgan Chase at another business confab in Washington: looking for value in the rot of the banks, why look into the eyes of a banker who denounces the vilifying of bankers?) Rodgin Cohen's withdrawal now completes the old rule. Once is happenstance. Twice is coincidence. The third time is enemy action. Expect the Germans to frown ruefully, the French (who own semiotics) to sniff ruefully, the Russians to stare ruefully, the Japanese to bow ruefully, and the Chinese to smile ruefully. (Note: the Chinese do not forget Tim Geithner's knuckleheaded though accurate remark, during Inauguration week, that China manipulates its currency. Of course it manipulates its currency. Tim Geithner will lose his head just because he said the obvious without being able to do anything about it.)






couple of notes that can cause this dept more squirming. China is expressing deep concerns:
http://online.wsj.com/article/SB123692233477317069.html
The fickle messages of the Man-Child- The economy ISN'T SOOO BAD (neglecting the untold Billions lost by the silent majority through their 401 K Pensions , IRA's and various savings plans)
http://www.breitbart.com/article.php?id=D96SP30G5&show_article=1
Which should not be confused w/ the rise a of new stronger military stance in the the south China Sea:
http://www.timesonline.co.uk/tol/news/world/us_and_americas/article5898650.ece
Supporters of The Man-Child's policies & processes are looking at the Cohen and Nazareth nominations drop rate and pointing out this part of the stiffened vetting process. To the outside looking in- it's a black comedy in the making. A scene left on the cutting room floor from movies like "The Candidate" or " The Distinguished Gentleman"
This is indeed to a comedy in the making... Perhaps a half hour show on the comedy channel "Our Man 'Bama"--- think i recall something a kin to it back in 2000
Let me be blunt: When we cast our ballots last November, we surrendered our nation to our enemies. Lest Spencer asks, these are the jihadis, the radical leftists, nihilists, and anarchists in our midst, all those who collectively cannot stand the thought of a buoyant, relatively free and successful nation existing in stark contrast to most of the world’s failed and oppressive regimes. On the other hand, we may have simply cast a vote for incompetence (as an increasing number of observers now suggest).
It doesn’t really matter which demons anyone chooses to name. The train has been long in coming and, truth be told, we’ve arrived. Three or four consecutive days of gains on the stock markets, does not negate the fact that we’re sinking in a quagmire of debt and corruption which cannot fail to result in decades of servitude - not to any identifiable ideal, but - to the whims of a cadre of gangsters (or incompetents) on whom we must now rely for our right to exist.
It’s an old and all too familiar story about ‘idle hands’, one that omits the part about the sweat and sacrifices that made the idle hands possible in the first place. Ours has been a failure to recognize that all things come at a cost. The final chapter doesn’t even acknowledge ‘betrayal’, and that is when we know that our bridges have been torched; that our return is blocked.
In Albert Camus’ novel, ‘The Stranger’, the last sentence reads, “For everything to be consummated, for me to feel less alone, I had only to wish that there be a large crowd of spectators the day of my execution and that they greet me with cries of hate.” The story is that of a man who unwittingly commits a crime. He is then tried, convicted and sentenced to death. Camus cleverly casts his protagonist as a person without the ability to discern right from wrong; safety from danger, love from lust. He approaches every situation in the manner of a child and dispenses with it in the most expeditious way. This novel, though first published in 1942, is almost a precise allegory for the relationship between the America and those seeking its destruction today. In a larger sense, Camus demands accountability for the crime of indifference. Though not explicitly stated, Meursault, the protagonist of ‘The Stranger’, cannot expect there to be a sizable crowd at his execution, for he is nobody, and quite undeserving of hatred or of any emotion.
A trusted correspondent writes me that he listened to the Lindsey Graham remark (while I just read the transcript), and he believes that Graham was speaking without irony in praise. Not mocking. I have found what was not present in L Graham's sense of proportion. It is a deeper puzzle. How can you find the Marines in Treasury? The Senator from South Carolina has a delusional GPS? Memory of the Fallujah episodes from '04 left me with Marine wit: "Be friendly to everyone you meet. Have a plan to kill them." For Treasury this would read: "Be sympathetic to everyone you meet. Have a plan to pay for them."
Yeh, that's the trouble with decorum. I, for one, would love to see some spitfire and passion and maybe even fistfights. Yeh, jump over and go after each other.
All this "My good friend" and "My esteemed colleague" just doesn't compare to "Listen here, you SOB" or "You're a damn liar!"
Now, that would impress... give us some hot blooded throw down, instead.
After all, this is a crisis!!!
Prophetic American Folk Music?
If you gotta minute... check this out for some smiles )))))
http://www.cmt.com/videos/merle-haggard/26454/rainbow-stew.jhtml
Why has Barack Obama so abruptly jilted Cassandra for Rosy Scenario? Simple -- Obama wants desperately to raise taxes -- yes, Virginia, even for the middle and working class -- a policy difficult to defend in the midst of a major recession. But since our economically illiterate President has no clue how to restore the economy, Obama has apparently decided to simply declare the formerly "worst economic crisis since the Great Depression," if not over, then not such a terrible thing after all that will soon be cured by respectable rates of economic growth that willl magically pop up out of the ground perhaps as early as the end of 2009. Thus has the Messiah miraculously made our former (i.e., two weeks ago) economic wasteland a fertile valley for taxing and spending at record levels, and anyone who objects is an infidel or, perhaps, a recession coward (cf. Eric Holder) worthy of his un-funny sarcastic humor. We await the MSM's usual impassioned wails that "the President is out of touch" with the suffering American people who are continuing to lose their jobs, houses, and general wealth at a rapid pace. No doubt, we await such criticism in vain.
During the GWB years, I accused the liberals of eagerly awaiting the revised body counts from Iraq so they could use it as ammo to vilify Bush: "Over 3,000 lives lost!" "Over 4,000 lives lost!" I accused them of putting their dislike of Bush before their love of country.
I will now confess something I'm not proud of: I've caught myself feeling disappointed in the last few days when I hear that the Dow is up. Well, this is a stranger taken over my mind, no doubt. Something evil whispering in my ear. So the first thing to do is to admit it, which I'm now doing. Second thing is to foreswear this behaviour ... also am now doing. What am I left with? A very real fear that if the market roars back, Obama will take all the credit for it. Would he deserve it? I don't think so, because I think he made it go down in the first place, at least the last 2,000 points of the Dow's drop.
My other fear is that if America gets out of this too easily, if we don't suffer a long and severe recession, we won't learn our lesson. We'll go back too easily to living beyond our means and buying houses we can't afford and making boring gas-guzzlers that only a UAW member could love and undercapitalizing our banks. I'm starting to sound to myself like a Baptist preacher promising fire and brimstone in the hereafter. Bottom line, I don't like myself very much at the moment for being this way. But as of March 13, 2009, this is the doldrums I find myself stuck in.
I have a different take on it. Not just Obama, but starting with Bush and Paulson and Bernanke, the government wished to acquire a stake in the banks, auto companies, and pharmaceutical companies, but wished to do it at fire-sale prices. So they first engineered or at least encouraged the bubble (Bernanke's unduly low interest rates in 2006-7), then helped the bubble to break, then told everyone that the world would end if TARP I wasn't passed, and have encouraged panic and abject pessimism until the market was cheap enough for them to buy in. Having evidently acquired a sufficient market share for now, they want their investments to rise, and are now giving glowing and encouraging reports. Buy cheap, sell dear. Pharmaceuticals still need to tank a bit more before the nationalization of that industry occurs - I predict mid to late 2009. By the way, there's one thing I haven't figured out yet about the banks - Did Vikram Pandit lie about how bad things were until just last week, or did he lie last week when they reported a two-month profit? Has to be one or the other.