Rahm Emanuel's Legacy

This interpretation, however, would be wrong. Emanuel, to the extent he has been tough at all, has been tough on Obama's most natural and important allies, the liberal Democratic leadership of congress. These people were more often the targets of Emanuel's hostility and contempt than the Republicans who were in most cases responsible for stalling or stopping the president's agenda. The toughness of Rahm Emanuel was always something of a myth embraced by a somewhat unquestioning media who happily mistook bluster and machismo for toughness and strength, and mistook a proclivity for colorful profanity for dedication and brilliance.

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Written by Lincoln Mitchell On In Tagged , , , , , , ,

Wall Street's Credibility Problem →

Monday saw a very interesting and telling moment as the newest iteration of Treasury Secretary Timothy Geithner's banking recovery was met on Wall Street by a jump in the Dow Jones of almost 500 points, a gain of fully seven percent. The big gains on Wall Street occurred amidst several days of bad press and attacks on the banking recovery plan, the AIG bonuses and Secretary Geithner in general from across the political and media spectrum. Progressive economists such as Paul Krugman attacked the plan as being insufficient and essentially the same as the original Bush/Paulson "cash for trash" plan, while conservative Congressman Eric Cantor (R-VA) referred to Geithner's plan as a "shell game.

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Written by Lincoln Mitchell On In Tagged , , ,