Sunday, March 15, 2009

Quote of the Day: Romer on MTP

I had to laugh when I saw this on Meet the Press:
MR. GREGORY: Really? What's the historical parallel when you don't have any of your top people that you've nominated in the Treasury Department serving during the biggest economic crisis since the Great Depression?

DR. ROMER: I mean, you're absolutely right that this, this is a very serious crisis and we certainly, you know, need all, all hands on deck. The Treasury secretary is working as hard as he can to get those people into place.

MR. GREGORY: Is part of the problem that the administration or, or the more political advisers in the administration don't want people from Wall Street, don't want people who are experienced, because they think they're tainted?

DR. ROMER: No, of course not. We want--right? We want the best people to be dealing with things, and...

MR. GREGORY: Right. So what's the problem? Where are they? You just had four people withdraw their nomination, including, including Rodge Cohen, who is one of the most senior people on Wall Street as a lawyer with Sullivan & Cromwell, who's advised all of these, all of these banks, and now he's pulled out.

DR. ROMER: I think one thing to realize, the--that the Obama administration is doing business in a different way. And we do have very strict rules on, you know, sort of the, the kinds of vetting requirements and whether you can have been a lobbyist and things like that. And it does tie your hands on some of the people you can hire. But we think the, the administration has made the decision it's worth it to have honesty and accountability and, and a sense of confidence for the American people.

Yeah, tough vetting and "no lobbyists". Ok, sure. (MWAAA HA HA HA!)

The first person who (a) has paid their taxes plus or minus $10k, (b) hasn't murdered anybody, and (c) doesn't have a child labor sweatshop in their basement is pretty much going to skate through vetting to a Treasury job, mmmkay? And let me tell you, Republicans are not going to care.

Of course, there was no follow-up to that laughable answer. Thanks, David Gregory!

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