March 5th 2009
Geithner Can’t Fill Treasury Posts
Timothy (“Only Little People Pay Taxes”) Geithner just can’t find good help. Today his hand-picked deputy, Annette Nazareth, has taken her name out of consideration.
Bloomberg reports the public face of the withdrawal – she’s frustrated that the process is taking so long – and also the private:
Nazareth … was concerned that her SEC work would be assailed at Senate confirmation hearings …. Before becoming a commissioner, Nazareth was head of the SEC’s market regulation division where she helped design an oversight regime that has been criticized for missing Wall Street’s excessive risk taking.
Why should that get in the way? Plenty of other folks who got us in this mess are working for Obama.
Even if the only reason Nazareth had to duck and cover was the frustration with the amount of time and effort to get hired for the post, that would be condemning enough. Last week, Paul Volker said the effort to get the Obama/Geithner Treasury Dept. up and running was “shameful:”
“There is an area that I think is, I don’t know, shameful is the word,” Volcker said at a Joint Economic Committee hearing on Feb. 26.
“The Secretary of the Treasury is sitting there without a deputy, without any undersecretaries, without any, as far as I know, assistant secretaries in substantive areas at a time of very severe crisis. He shouldn’t be sitting there alone. Now various things have contributed to this, I guess, including vetting procedures, but it really is an unfortunate situation,” Volcker said. (ABC)
Gosh. Ya think this is maybe what we should expect if we elect a guy who’s got one year as a Senator as president? If you owned a company, would you hire a guy with one year’s experience as the company’s president? Especially if the company was on a fast-track to a hot, brimstoney place? Didn’t thinkso.
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