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Biden and Sweeney/Axelrod and Geithner

I'm told old friends, Joe Biden and AFL-CIO President John Sweeney, had a good private meeting yesterday, one of many meetings the vice president and senior administration officials have been having and will have with top labor leaders. (If the labor movement wasn't so atomized they might have all gone in together.) "No real news coming out of the meeting," one person with knowledge of the session said. "It was more of a general, and ongoing discussion. They discussed a whole variety of things," and part of a continuing and ongoing dialogue" between Labor and the Obama White House.

Among the topics discussed were the Employee Free Choice Act, which the administration has assured labor leaders it still wants to push for in late Spring, and the nomination of Hilda Solis to be Labor Secretary. Republicans seem to be softening in their opposition to Solis but it now looks like there won't be a committee vote on her nomination until after Congressional recess, February 23rd, making it likely to be the last cabinet seat to be filled.

On another front, TPM Alumnus Greg Sargent now of whorunsgov.com quotes David Axelrod downplaying the New York Times reported rift between him and Tim Geithner, something he downplayed in the Times story itself.

My nugget to add to this is that no one on the economic team, so far as I can tell, was pushing for the kind of showy, punitive measures that might have made today's ugly roll out of the new bailout plan at least more appealing to those who want to see banks punished. It echoes what I said last week about Summers and Geithner. People who expected to see fireworks between those two are ignoring their decades of friendship and how ideologically sympatico they are. Future fireworks, if there are any in the land of no drama, are likely to come between the economic team and otherson the periphery. In any event, the bailout plan such as it is, is now out there. It was a half-built house when it was unveiled this morning and given the market reaction today to the thing it's probably going to get revamped even more.


7 Comments

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I don't get the kabuki theater behind this Axelrod/Geithner story.

Who is leaking it and why? Geithner comes out looking like a big finance stooge, Axelrod comes out looking weak, Obama is ... absent from the story. Is Obama throwing Geithner to the mob - as if this unpleasant program, neutered of all protection for the tax-payer, were the evil doing of this cossack, and the czar is merely an innocent bystander?

or is it just the supremely competent Robert Gibbs who can't keep his mouth shut... From Sargent's discussion: "said Axelrod, who noted that he was sitting next to White House press sec. Robert Gibbs while he spoke." Maybe I'm reading too much into this, but WHY would he have 'noted that'? Gibbs isn't that intrinsically notable...

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It's funny, I don't notice who wrote the piece as I start reading it. But, as it sounds more and more gossipy I take a wild guess before scrolling back up to confirm - yep, just as I thought.

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Um, what?

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I don't get this idea that Mr. Axelrod's feelings about TARP II were somehow super secret and ergo this "leak" must have been either a WH misstep or else some kind of infighting. There are probably about a hundred run of the mill WH staff who have heard, or heard about Mr. Axelrod's personal preference (or something he once said to someone) about TARP II, and they could just as easily assumed that this is the advice that he gave to the President(!). This leaves aside any possible embellishment by the reporters themselves.

If Jim H is intimating dissatisfaction with the inclusion of Mr. Cooper to TPM, I'll add that—with the important caveat that I'm pretty much ignorant of his past work—I also had an initially negative response. This piece does nothing to change that, but then again, I'm not really keeping tabs (which means he hasn't written anything good or bad enough to register). I think it's the stigma of Time (or Newsweek, whichever it was), that makes me wary, but I seem to remember not being very pleased with something he was reporting on in years past.

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I wonder if Geithner and Obama's message to Wall Street yesterday wasn't more nuanced than vague.
Like Tony Soprano saying to a loanshark:
"I got a little time. You? You got a little time? I don't think so. Maybe we can work something out."

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Time is on the side of the banks. The less Geithner rocks the boat, the longer they stay (barely) alive.

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Time is on the side of the banks. The less Geithner rocks the boat, the longer they stay (barely) alive.

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