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Democrats Reeling From AIG Mess

The political debacle that is now AIG threatens to force Democrats to do something they haven't had to do in years: govern and live with the consequences of their decisions. Evan Newmark summed up the current political climate in Washington by noting that once the AIG scandal has moved on from the public's attention Congress should be on guard for a surly response from the electorate:

But the Washington populists ought to tread carefully. It's one thing to stir up the mob, it's another to control it. Eventually, the public will tire of the old outrages and look for new ones. And suddenly some of the things down in Washington will start to look pretty outrageous, too.

Like Senator Ted Stevens, a convicted felon, receiving $122,000 a year from a government pension. Like Congressman Charlie Rangel, the man most responsible for the U.S. tax code, failing to pay taxes on his Dominican vacation home. Like Rep. Maxine Waters doing favors for a bank in which her husband was a stockholder and former board member.

Watching today's spectacle at the House Financial Services subcommittee overseeing the AIG circus was informative, to say the least. AIG CEO Edward Liddy made it crystal clear that every decision made by AIG and its board was vetted first by a representative of the Federal Reserve Bank, a fact that effectively muted all of the hysterics from various House members the last few days (not to mention the fact that Obama and Congress already knew weeks ago about the retention bonuses). Characteristically, this Congress covets all of the power and none of the responsibility.

The legacy media is catching on to Congress' ineptitude also:

For the first time since last fall's election, Democrats and the Obama administration are backpedaling furiously on an issue easily understood by financially strapped taxpayers: $165 million in bonuses paid out at bailed-out AIG.
..Gone are the days when they could merely bludgeon the Bush administration and promise to seek bipartisan solutions to the nation's economic problems.

Now, in control of the White House and Congress, they are struggling to come up with an explanation for what no one in either party seems moved to defend.

President Obama surely recognizes the shifting sands under his feet. Today, with Geithner by his side, he professed faith in his Treasury Secretary (make room under the bus!) and tried to take ownership of the AIG monster by stating that the "buck stops with me", a position that was subsequently rendered inoperative when he invoked the "inherited problem" defense in his next breath. It must be hell trying to govern when you don't have George Bush to kick around anymore.

The Democrats have laid a foundation of distrust and incompetence in the mind of the public that is of a scale with the House Post Office scandal.


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Comments (9)

Yeah, I liked that "buck st... (Below threshold)
GarandFan:

Yeah, I liked that "buck stops with me", BUT 'It's all George Bush's fault'. That man has no spine. He's also backpedaling on having wounded vet's pay for their own health care. At least that only took 2 days. The bastard should apologize for even contemplating such an idea. Pelosi is out spinning on that one right now. Even she hasn't the guts to admit she'd have pushed it right through Congress if Mr Backbone told her to. THE LYING, HYPOCRITICAL BASTARDS!!

The patina is coming off th... (Below threshold)
WildWillie:

The patina is coming off the left's saint Obamalama. Didn't take long, and I knew it wouldn't. How can someone with NO experience in anything handle this office. ww

Not one to take much stock ... (Below threshold)
Clay:

Not one to take much stock in polls, I will say that for the "first time in recent years," the GOP has moved ahead of the Democrats in generic Congressional preference, according to Rasmussen Reports. In the most recent survey, the Republicans lead 41%-39%: http://www.rasmussenreports.com/public_content/politics/mood_of_america/congressional_ballot/generic_congressional_ballot

It's noteworthy that this is as of 3/15, before the AIG imbroglio really cut loose, so it may actually be worse for the Democrats.

But, the big question for me is: When are the Republicans going to offer an alternative out of this? The Democrats have definitely screwed this pooch. However, the Republicans' strategy seems to be passive and along the lines of "Let's let 'em dig their way out of this one." That's not leadership in my book, and may end up biting them in the end.

But, I'll go further out on a limb a'la Rush Limbaugh: I hope they both fail. Maybe then we can get some real leadership, instead of this bipartisan tennis match.

"When are the Republicans g... (Below threshold)
GarandFan:

"When are the Republicans going to offer an alternative out of this?"

The Republicans in the House initially offered a bail-out plan 1/3 the cost of the one passed. In a spirit of bipartisanship, Her Holiness Pelosi reminded the Republicans "We won, We wrote the bill". Just prior to the final vote, Her Holiness addressed the House, hoping to garner Republican votes for the bill. She then proceeded to blame Republicans and George Bush for every evil committed since Adam and Eve were thrown out of the Garden. Her Majesty was suddenly surprised when all Republicans voted NO, essentially telling Madame Speaker "SHOVE IT UP YOUR ASS".

Clay,Amen.... (Below threshold)
Oyster:

Clay,

Amen.

Wait until the Fannie Mae/F... (Below threshold)
hermie:

Wait until the Fannie Mae/Freddie Mac bonuses make the news...if the MSM will let it.

The Republicans in the H... (Below threshold)
Clay:

The Republicans in the House initially offered a bail-out plan 1/3 the cost of the one passed.

In the words of my boss: "What have you done for me lately?"

It's time for the Republicans to get their act together and start commnicating to America as a unified body. Otherwise, they are part of the problem. Instead of being shadows to the Democrats, offering 'no' to whatever the Dems say, they should take advantage of the situation and demonstrate some leadership. But, my guess is they don't. Personally, I could care less.

They're no different then the other guys, and they prove it every day. They deserve the trouncing they got in November and so far they haven't demonstrated that they deserve to win in 2010.

A Republican is a Democrat is a Republican. When will you sheep wake up to this game of musical chairs they're both playing? Are you serious? Do you actually think they're acting differently than the Democrats?

If the democrats had spent ... (Below threshold)
LiberalNitemare:

If the democrats had spent a little less time trying to attack Rush Limbaugh for hoping they would fail ... they wouldnt have failed so spectacularly on this issue.

they wouldnt have failed... (Below threshold)
Clay:

they wouldnt have failed so spectacularly on this issue.

And the Republicans are only benefiting by default. That ain't much of a strategy. I'll ask you in a couple of weeks how it's working out for them.

Sheesh. Wake up already.




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