In the past, I've spoken favorably of our new President. He was an advocate of good government. He wanted transparency and accountability.
And as he takes office, he continues talking the talk. See his reinvented Whitehouse.gov:
Also see today's
NYTimes piece by Brian Knowlton:
President Obama moved quickly on Wednesday to lay some touchstones for the “more responsible, more accountable government” he has promised, ordering a salary freeze for senior White House staff, tightening rules on lobbyists and establishing what he said was a new standard of greater government openness.I applaud President Obama for his efforts.
But I have one question for you Mr. President.
Have you mentioned any of this transparency stuff to your Treasury Secretary-designate, central planner central banker Timothy Geithner?I see this January 12 headline in Bloomberg News:
FOX Business Network Sues the Federal Reserve over Non-Compliance with Freedom of Information Act RequestsAnd I'm reminded of some of my recent posts
(such as here, here, here and here) in which I mentioned news agencies had filed FOI requests from The Fed
* and / or The Treasury.
**Unfortunately for the journalists, they were asking Tim Geithner for information. And this guy apparently believes that he's the CIA... and everything that happens on his watch deals with
"sources and methods" and thus cannot be revealed.
And ignoring how he
pulled a Rowland and "forgot" to pay half his taxes even after the IRS came knocking...
Just today during his confirmation hearing... as
live-blogged by the NYTimes:
1:20 p.m. TARP strategy: There is a refrain running through the questions for Mr. Geithner, and it has to do with the focus of the government’s bailout plan. That question, already asked several times in various forms, is this: Should the bailout program return to its originally stated plan of buying up toxic mortgage assets, or continue to focus on investing directly in banks?And what's the response from our most-Transparent-Treasurer-ever?
Mr. Geithner isn’t giving a direct answer, basically saying that he and his team will look at both approaches, as well as others, and take the best of the bunch.Mr. Geithner isn’t giving a direct answer
Shocking.
But even worse is that this guy not only has been involved in the TARP from the very beginning... he's about to be given $350 billion of taxpayer-funded Monopoly money... and he can't give a straight answer.
Obama can talk all he wants about transparency and accountability. He ran a campaign on "Bush's failed economic policies." Yet not only is Obama continuing Bush's failed
monetary policy of fiat money,
he's worsening
* Bush's failed
fiscal policy of deficit spending.
If Geithner is as averse to open government as his record shows, then either he'll need to go... or President Obama will need to acknowledge he's not really a fan of open government.
Tim White* Geithner is currently the head of The Fed's New York branch - the heart of the central bank** Geithner likely soon-to-be employer * worsening by Obama's own standard of opposing deficit spending