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| Make that $1 trillion more | |
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| Capital Stinkpot: What now? | |
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| So Damn Slippery | |
| Timing is Everything | |
| Dodd's Deep Doo-Doo |
| Can Obama Hold the Center? | |
| Are Obama's Problems Generational? | |
| 'Post-Partisanship' Isn't Dead Yet -- but It's Very Close | |
| Is There an Antidote to the Republican Amnesia? | |
| The Public Wants Justice |
March 18, 2009
Panel on Geithner and the AIG Timeline
Special Report With Bret Baier(BEGIN VIDEO CLIP)
WHITE HOUSE PRESS SECRETARY ROBERT GIBBS: We don't look at it as the process of demonstrating the president's sense of humor. We look at it as a way of discussing the economic situation that we find ourselves in.
(END VIDEO CLIP)
BAIER: The press secretary talking about the president's trip and eventual appearance on "The Tonight Show with Jay Leno." The president is out in California right now. In fact, we have a live shot of Costa Mesa, California, one of two town halls that the president will be taking part in over the next couple of days including that visit to "The Tonight Show" as well.
We're back with the panel.
Kirsten, is this the right tone, the right message to be sending in the middle of this economic crisis that we are facing?
POWERS: Yes, I actually think that it is. I think that what he is doing, he's trying to get out of town. He's trying to get out of this sort of hysteria that's happening right now in Washington over, as Charles has alluded to, this very tiny amount of money that has now turned into this massive, you know, just everybody is completely consumed that's all they want to talk about.
He wants to go out, get away from that, talk directly to the people. I know a lot of people think that going on "Jay Leno" is sort of beneath the president. I'm just not one of those people. I think it's a great way to communicate with the average Americans. And he's going to be doing I think more of a sort of attempt to speak directly to Americans.
He is having a primetime press conference on Tuesday; he is sitting down with "60 Minutes" this weekend. And I think that's what he needs to be doing.
BAIER: Jeff?
BIRNBAUM: I think it's smart for the president to get out of town. It doesn't matter where he's going, because there's really a blood lust frenzy going on right now. Somebody or something is going to have to give to — something has to be sacrificed in order to get rid of what is really an enormous populist uprising against AIG and these bonuses.
I know that Charles and Kirsten believe that it's a small amount of money, but to a lot of Americans, this is a terrible insult to them.
BAIER: Jeff, let me just interrupt you there. The big question about all of that is when Secretary Geithner knew about it. They came out with a time line, the White House did, that said he knew about it midweek, but yet he was also the head of the New York Fed. And today we heard testimony from Liddy that the Fed knew about this from the very beginning.
BIRNBAUM: That's right, Bret. I think Geithner needs to say what he knew and when he knew it. And there's no doubt that his job security is really in question now, and there's no better proof of it than President Obama coming out first thing this morning and saying that he had complete confidence in him. That's in Washington a real signal that there's trouble ahead.
So Obama going out of town, talking to real folks is a good idea. It is a especially good idea that he didn't stay in town this weekend where he would normally have gone to the gridiron dinner, that's a white-tie dinner; that's one level above black-tie dinner where he would hang out with all the inside the Beltway swells, which is not a very good place for him to be this weekend. Being out of town is an excellent idea.
BAIER: Charles?
KRAUTHAMMER: Well, I know that human sacrifice is a common ritual in Washington, but I'm not sure that this what did he know it and when did he know it really is at Watergate level. I think it's a few notches below.
I think Geithner is working on — is preoccupied with trying to create a plan to take the toxic assets out of the banks and save the world financial system. And I think that's probably why he overlooked the politically potent issue of the bonuses.
In the scheme of things, it's very small. Of course, politically, it's large, and in fact, it may claim his head in the end, but it shouldn't.
He's got other stuff to do. He is the man in charge of Treasury. Our economy hinges on saving the credit system, and this is, in fact, a triviality, and somebody ought to say it, even if the president and the members of Congress can't.
We're not constrained. I'm not running for office. I think it ought to be said at least once.
BAIER: But as far as the tone, Charles, about going out west and...
KRAUTHAMMER: Well, Obama's modus operandi is when the going gets tough, he gets going. He gets out of town. The best thing he does is campaign, so that's what he wants to do. He's not apparently that good at governing. He is not a lot of experience. He never ran a candy store in the past and he's having a little stumbling trouble these days running his government.
But, you know, presidents who are good speakers have charisma and popular support, like Reagan, will go over the heads of Congress directly to the people when they are in trouble and need help. That's what he's doing. It's understandable. If I were his advisor, I would tell him to do it.
BAIER: Kirsten, last word here.
POWERS: I agree completely that that's what he needs to do. And he needs to just capitalize on his popularity and the fact that still, with all of this going on, he still has a lot of support among Americans.
And he just needs to speak to them.
BAIER: Real quick, around the horn. Jeff first, does Secretary Geithner stay on?
BIRNBAUM: I think he does. I think something else will be sacrificed.
In particular, there will be high taxation placed on these bonuses.
BAIER: Kirsten?
POWERS: I think he will stay on. That would be my prediction.
BAIER: Charles?
KRAUTHAMMER: He will make it. But we'll have a public hanging or two on Wall Street.
