Arianna Huffington, the Ann Coulter of the far-Left, expresses an enormous amount of dissatisfaction with the way her far-Left wing president does his job in her article this week on her website: “The Huffington Post”.
Huffington’s article, titled: “Barack Obama Is Doing My Job; Why America Needs Him to Do His,” openly wonders why the president is acting so unpresidential when it comes to Wall Street and the banking system, i.e.; he has the authority and power to make things happen but he seems to be satisfied with “urging, advocating, recommending, strongly suggesting, and cajoling.”
“During his weekly radio address, which focused on the need to get America’s banks lending to small businesses again (wasn’t that the reason we bailed out the banks in the first place?), the president declared that “it’s time for those banks to fulfill their responsibility to help ensure a wider recovery, a more secure system, and more broadly shared prosperity.” But “it’s time for” is the kind of thing we pundits say: “It’s time for the banks to do this and that… It’s time for Congress to do this and that… It’s time for the president to do this and that.
“Then the president laid out his plan of action: “We’re going to take every appropriate step to encourage them to meet those responsibilities.
“Encourage them? How about make them? Columnists and bloggers encourage. Presidents execute. It’s in the job description. Hence: the executive branch.”
I have to give Ms. Huffington credit — she has her principles and they will not be corrupted by party loyalty.
So what does she want the president to do?
“For starters, the president controls who runs the Fed. Instead of just giving Ben Bernanke the green light for a second term, he could have made it contingent on forcing Bernanke to open up the Fed to full transparency. In fact, there is a proposal for an audit of the Fed in the House now. It is, not surprisingly, being fought by the Fed. And the White House is silent on the subject.
“The president also has the power to make other key appointments, including the head of the Office of the Comptroller of the Currency (who supervises the nation’s commercial banks); the head of the Federal Deposit Insurance Corporation; the head of the Office of Thrift Supervision (the primary regulator of savings and loans); the head of the Securities and Exchange Commission; and the head of the Commodity Futures Trading Commission (which oversees derivatives).
Huffington then sharpens her virtual tongue for another attack:
“He also controls who runs the Treasury Department — which, believe it or not, is not legally mandated to be overseen and staffed by former Goldman Sachs executives and their friends. And there is nothing in the Constitution that says the Treasury Secretary has to be in near-constant contact with the heads of Goldman, Citigroup, and JP Morgan, often taking their calls late at night.”
Its fun to read a far-left Lib dissing another far-Left Lib for not being far left enough but hopefully President Obama pays no attention to either Arianna or her “Post.”
Obama does, as Huffington suggests, need to get all the crooks and other rubbish out of the White House and out of his cabinet and needs far more transparency — he hasn’t even begun to keep his campaign promises in those regards –but he does NOT need to exercise more control over any aspect of the private sector.
My suggestions for President Obama are far simpler than Arianna Huffington’s: 1) Do everything you can to get the government out of the way of the free market; 2) Provide whatever incentives you can for growth (not mandates but incentives), and 3) Stand back and watch the economy return to health.