Will Obama keep Paulson on at Treasury?

[kentuck]

Since we are in the midst of this economic crisis? Would it be wise to change horses in the middle of the stream? Obviously, he respects Paulson enough to follow his advice on the bailout - as did the majority of Democrats in the Congress.

Of course, Robert Rubin would like the job. His employer, Citigroup, just laid off about 50,000 employees. There seems to be a personal feud between Rubin and Paulson. Rubin wanted Citigroup to purchase Wachovia but Paulson shot that down since they were going to be purchased by Wells Fargo for cash. This was Citigroups only shot at getting the bailout money. But so far it doesn't look like Citigroup is getting any bailout money and they are now laying off 50,000 employees. Thanks Paulson! Citigroup was left in the cold.

So Rubin wants the job at Treasury so he can do for Citigroup what Paulson did for Goldman Sachs. That appears to me to be what is going on behind the scenes? We shall see...

(edited to clarify a point)

[Winterblues]

1. Is there any reason why he wouldn't?

He has shown he isn't really interested in judgment or competence only the allure of non-partisanship..:shrug:

[WI_DEM]

3. you are saying that Obama isn't interested in "judgement or competence" get real!

[Winterblues]

7. How do you explain his insistance that Lieberman keep his Chairmanship?

Lieberman has demonstrated extremely poor judgement and competence over the last several years. Lieberman has sided with Bush* and his foreign policy at every chance and yet virtually every democrat says that policy is bad. It has isolated America and empowered our enemies and yet Lieberman to this day backs that approach. also during his stint as Chair of the Homeland Security committee he has shown total incompetence in his oversight requirements. Obama has decided it is more important to show tolerance than ability. I find that a flaw in Obama's judgement on this issue.

[nini]

2. I doubt it

I'd be surprised if he did.

[yurbud]

4. should you change doctors in mid-coma just because he's raping and eating parts of your relative?

[JackRiddler]

5. Why not keep Bush on as co-president?

"Would it be wise to change horses in the middle of the stream?"

Would it be wise to evict the arsonist while he's still busy burning the house down?

"Obviously, he respects Paulson enough to follow his advice on the bailout - as did the majority of Democrats in the Congress."

The dumb fucks. We can hope they wise up.

[gravity]

6. No

Obama and Paulson both indicated that there will be a new Treasury secretary.

[truedelphi]

8. Oh how sad it is that the more things change, the more things stay the same.

AIG is allowed to give Christmas bonuses to its executives that will total over 300 million. If we look to the DeLay handbook of how this works, these bonuses will be allowed, because how else can AIG officials petition Paulson for yet more money unless they are able to slip him some money under the table?? (AIG is doing very very well -in addition to the 80 BNillion pre-BailOut money they received, they have gotten at least 55 Billion more from thenew BailOut monies!)

Same thing is probably occurring with the banks.

Wachovia was handed over to the very poorly managed Citigroup - not because Citigroup is higher rated than Wells Fargo, but because Citigroup has an in with Treasury. And that is the kind of "in" that only money can buy!!

And Obama is already saying "Good job, Brownie!" When "Sixty Minutes" asks him about Paulson!!

[On the Road]

9. Rubin Quit of His Own Volition, Didn't He

and handed the reins to Larry Summers? Is there any reason to think he would want his old job back?

If he is, it would be a good time to have Rubin back. His fiscal responsibility was a big factor in eliminating the deficit in the 90s.

[Swede Atlanta]

10. No, but..........

No keeping Paulson who may be committing crimes as we speak by giving his buddies money but.....it might be prudent to keep him on the payroll for several months until Obama's Treasury Secretary is not only confirmed but can get his/her feet on the ground. Perhaps he could serve in the role of an advisor on the actions during the Bush administration as part of an extended transition since this is so critical.