Saturday, November 22, 2008

BHO: Center-Right Pragmatist?

The Violin Model: Hold power with the left hand, and play the music with your right?

First came hints that Obama would retain Robert Gates, GW's current Sect'y of Defense & former Directorate of Intelligence at CIA, who advocates aggressive spooks coupled with a robust military for defense of the U.S. of A., plus a long term presence in Iraq.

Then, Friday, it's all but announced that button down, New York Fed chief Timothy Geithner is set to become Obama's new treasury secretary. Wall Street liked the news.

"Geithner, 47, held posts in the Treasury Department under three administrations and five secretaries before moving to the New York Fed in 2003. He also held positions at the International Monetary Fund and was employed at the firm of former Secretary of State Henry Kissinger.

In his post in New York, he has played a key role in the government's response to the financial crisis and has worked closely with Treasury Secretary Henry Paulson and Ben Bernanke, chairman of the Federal Reserve."

But, wait. There's more!

Since the congress critters on the Hill have their thumb up their collective nose, and can't decide their way out of the lunch room, Obama dropped another hint that he favors a `Prepack' Chapter 11 Bankruptcy for the Big Three auto makers as opposed to an outright bailout, or an agony postponing 'bridge loan' - to losing more money.
"In a prepackaged bankruptcy, an automaker would go into court with financing in hand after reaching agreement with lenders, workers and suppliers on what each would give up and on the business plan to be followed. The process might take six to 12 months, compared with two to five years if the automakers followed an ordinary Chapter 11 proceeding and worked out agreements under a judge's supervision, Bane said."

It's enough to make a fiscal conservative cheer. And make the unionists howl.

BHO: Meastro or Machiavelli?

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