Geithner’s Welcome Expired Long Ago

I told you so 7 months ago in my TMV post dated 3/19/09 and titled “It’s Time to Throw Geithner under the Bus.” Considering the growing chorus from the left, right and middle now calling for his termination or resignation, I re-read my original post. As always, I was prescient, accurate, and possibly clairvoyant on this matter.

Yours truly also predicted this entire economic collapse at least 5 years ago, but no one took me seriously. Prophets are never appreciated or heeded in their own times. However, I am not pleased that I was correct in my original assessment of Mr. Geithner 7 months ago because the entire country has suffered due to his incompetence, Wall Street Bias, and overall cluelessness towards the needs of Main Street and the vast majority of Americans.

Most politicians are quick to blame others (sometimes correctly) for political and economic problems but they never want to admit they were incorrect in any of their decisions or that they helped make those problems. Unfortunately hindsight is 20-20 and no one is clairvoyant except Madame Olga on the West Side of Cleveland. We all make mistakes – yours truly included – and it is better to quickly fess up publicly to those errors in judgment, change course and move on.

Too many politicians think an admission of error is a sign of weakness so they continue to proudly deny, blame others, obfuscate the real facts, and follow various stupid and discredited policies so as to not have to admit they made any mistakes. This applies to most of our elected leaders regardless of their political or economic positions. I wrote back on 3/19/09:

Many in the general public want some genuine honesty from their politicians. Some voters will always punish our leaders for admitting mistakes because they themselves are unwilling to admit their private errors either. However, most people understand all too well our human imperfections. But we expect people to learn from their errors and move in another direction after taking full ownership of their mistakes.

President Obama would not fare poorly in 2010 or 2012 if he promptly admitted numerous errors he has made while in office – while avoiding admitting any more debatable or obvious mistakes made in U.S. history to which he was not a party. He could then promptly change his focus and move on with renewed public support. That would really distinguish him from other politicians and gain him public respect. There has been sufficient time now to fully judge Secretary Geithner. The President can now point to the worsening general economy and public anger over unregulated massive bailouts of Wall Street to justify his decision to part ways with his chief financial adviser.

I can list a number of policy and tactical mistakes the President has made since taking office, and so can most TMV readers. One major issue today is with those who aare key advisors to the President in making public policy with respect to our country’s financial and economic future. There are many independent and highly capable individuals in the U.S. without any direct ties to Wall Street or prior Administrations who could competently lead the U.S. Treasury Department. Secretary Timothy Geithner is not one of them.

The 2010 Midterm elections are less than a year a way because of Constitutionally-fixed federal elections every 2 years. Mr. Geithner is eminently disposable for the good of the country and for President Obama’s political survival. So Mr. President, please admit some of your mistakes (most people will likely forgive you), and throw Secretary Geithner under the bus – or at least ease him out the rear doors to some cushy Wall Street position where he can do no more harm to the nation.

Marc Pascal – the ever ranting sage in Phoenix, AZ who wishes everyone a pleasant weekend.