Friday, November 21, 2008

Blue-State Fox.

"I think—you know, I pay very close attention to what the independent media are saying and what bloggers and others are saying, and I think what—a sort of disturbing trend is that we have sort of blue-state Fox emerging, where people are, you know, sort of treating Obama in a different way than they would treat Bush or anyone else in power. And I think—remember, when Bush first took power, there was a tremendous outcry over all of these old Reagan hands that were being brought back in and the neoconservatives and others.   I mean, I think the time is now to call the question on the involvement of some of these people, that this is the precise moment when this kind of journalism matters, when we have to remind people of the history and the previous policies implemented by the people that are at the center of Obama’s foreign policy team right now, because we’re going to be living with these people for the next four years running the show. And I think it’s incredibly important to be all over this right now, before they’re named."
Abso-freaking-lutely.  Jeremy Scahill on Democracy Now!, his piece on the topic here.  Incidentially, their review of potential Treasury Secretary suspects, here, is pretty critical of Geithner, who seems to be getting the job:  
Geithner, I think, yeah, maybe he would be marginally better, but if you look at the deal he initially did with Bear Stearns and JPMorgan, there are a lot of critics of that who say he was had. He was negotiating with Jamie Dimon, who sits on the board of the New York Federal Reserve Bank along with Geithner. And he’s—Geithner is considered to have been hoodwinked in that deal, because the New York Federal Reserve ended up mainly getting worthless subprime mortgage securities in return as collateral for the nearly $30 billion it put up. It’s already recorded a paper loss of $2.7 billion. And he outsourced the management of the collateral to BlackRock. Now, it’s probably just a coincidence that also as part of the—one of Geithner’s main advisers is John Thain, who was CEO of Merrill Lynch before it was swallowed up by Bank of America, and it’s probably just a coincidence that Merrill Lynch owns a 49 percent stake in BlackRock. And what this really represents is, you know, the old boy network. The Federal Reserve Banks are in many ways just Wall Street clubs. And so, I think Geithner himself would not be that good of an appointment, you know.
Well, at least he's good looking.

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