Today I heard about some rather distressing information regarding Rom Emanual, Chief of Staff to President Obama. According to an article in the Chicago Tribune published, I believe, today Rom Emanual sat on the Board of Freddie Mac for 14 months while Freddie Mac was melting down. Apparently Mr. Emanual received some $320,000 over that 14 months for little or no work. Does that surprise you? It doesn't surprise me, especially since he comes from Illinois which is, unfortunately, known for questionable politics which does get downright dirty. I guess Mr. Emanual made money as an investment banker some years ago according to the article which I heard about on a conservative talk show. The Chicago Tribune is known for usually getting it right too. There was an accounting scandal going on with Freddie Mac at the time I believe.
In any case, given this information, do you really want Mr. Emanual handling the economy? I sure don't. He watched while Freddie Mac burned and what makes anyone think that he won't do it again? Freddie Mac was making questionable loans and Mr. Emanual watched while this was happening. What does that say about the effort he will put into his present position? It doesn't say much to me. Can you say a very cushy job without a lot of work? I sure can; but that shouldn't surprise anyone. As I said last fall, Obama is no reformer. It will just be Illinois politics on a national scale and boy are we seeing that now.
As for Geithner, he doesn't even know how to pay his taxes, let alone come up with a coherent policy on the so-called toxic assets. In fact, I heard a story recently that if Geithner doesn't start doing better, there is a prominent congressman who will be calling for Geithner's resignation. That should happen because a tax cheat should not be in charge of the IRS which is under the Treasury Dept. I thought at first that Geithner's tax problems were an honest mistake but I am beginning to wonder about that one. Can you say politial rewad? I sure can with both of these idiots.
These two idiots want broad powers to shut down financial companies that get too large. Come on, that's like asking the fox to guard the hen house. No way these two should have power like that as they have proven they can't handle what they have now, let alone what they have done in the past. How much worse will they make things? I shudder to think about that and hope we never find out. Unfortunately we just might though.
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