Jamesb101.com

commentary on Politics and a little bit of everything else

Paul Volcker…the ‘Big Guy’ is back with the ‘Vocker Rule’…..

I saw him standing next to President Obama today…..

And so did a lot of other people…..

For much of last year, Paul Volcker wandered the country arguing for tougher restraints on big banks while the Obama administration pursued a more moderate regulatory agenda driven by Treasury Secretary Timothy F. Geithner.

Thursday morning at the White House, it seemed as if the two men had swapped places. A beaming Volcker stood at Obama’s right as the president endorsed his proposal and branded it the “Volcker Rule.” Geithner stood farther away, compelled to accommodate a stance he once considered less effective than his own.

The moment was the product of Volcker’s persistence and a desire by the White House to impose sharper checks on the financial industry than Geithner had been advocating, according to some government sources and political analysts. It was Obama’s most visible break yet from the reform philosophy that Geithner and his allies had been promoting earlier.

The Dog also thinks that the President has fallen back on an ‘Old Hand’ for several reasons…..

Number One being that Geithner and Bernanke are on the outs with Congress right now…..Number Two is that Volcker’s anti- financial business slate is good for  political business…..Number Three is Scott Brown’s win sucking all the air out the political room for the last few days…..

Lets see if the Big Guy stays around this time……

January 21, 2010 Posted by | Breaking News, Government, Law, Media, Men, PoliticalDog Calls, Politics, The Economy, Updates | , , , | Leave a comment

Paul Volcker…the 'Big Guy' is back with the 'Vocker Rule'…..

I saw him standing next to President Obama today…..

And so did a lot of other people…..

For much of last year, Paul Volcker wandered the country arguing for tougher restraints on big banks while the Obama administration pursued a more moderate regulatory agenda driven by Treasury Secretary Timothy F. Geithner.

Thursday morning at the White House, it seemed as if the two men had swapped places. A beaming Volcker stood at Obama’s right as the president endorsed his proposal and branded it the “Volcker Rule.” Geithner stood farther away, compelled to accommodate a stance he once considered less effective than his own.

The moment was the product of Volcker’s persistence and a desire by the White House to impose sharper checks on the financial industry than Geithner had been advocating, according to some government sources and political analysts. It was Obama’s most visible break yet from the reform philosophy that Geithner and his allies had been promoting earlier.

The Dog also thinks that the President has fallen back on an ‘Old Hand’ for several reasons…..

Number One being that Geithner and Bernanke are on the outs with Congress right now…..Number Two is that Volcker’s anti- financial business slate is good for  political business…..Number Three is Scott Brown’s win sucking all the air out the political room for the last few days…..

Lets see if the Big Guy stays around this time……

January 21, 2010 Posted by | Breaking News, Government, Law, Media, Men, PoliticalDog Calls, Politics, The Economy, Updates | , , , | Leave a comment

The person behind the name Neel Kashkari, who handled $700 Billion for Paul Volker and the United States of America….

The is a behind the scenes piece about Neel Kashkari, the bail-out whiz, appointed to work with Treasury Secretary Hank Paulson in the waning days of the Bush Administration (he later worked breifly in the Obama administration at  Treasury)….

While we have all trashed the Bush administration’s handling of the economic downfall…Kashkari was there ….deer in the headlights….scared and under huge pressure to produce and thrown in front congress to the heat……

The piece mainly focuses  on Kashari decompressing, back in California after watching a fellow worker experience a heart attack working all nighters to help deal with the financial crisis……

He is portrayed as a real human being who had a job to do and is suffering for it…..along the way he admits…he bad judgements …but it the thanklessness of those days that haunt him…which is why he has tried to get away by living a simple life with his wife back in the boonies in California…

….it hasn’t worked….he still dreams of D.C…..and the pain……

Even though the economy is slowly getting better…….

Note:  He isn’t that detached…while he’s not working now…he is helping Paul Volker write a book…..got to get his fix…anyway he can….

December 6, 2009 Posted by | Government, Politics, The Economy, Travel | , , , , , , , | Leave a comment