Just As Housing Bubble Breaks, Bush Pushes Snow Out of Office

Elaine Meinel Supkis

Bush keeps shoving out one Secretary of the Treasury after another whenever they give him bad news such as the one who warned him the war in Iraq would cost at least $250 billion. Now, Snow has to go because he is worried about the sea of red ink and the popping housing bubble.

New York Times:

ELISABETH BUMILLER
Published: April 5, 2006
WASHINGTON, April 4 — Treasury Secretary John W. Snow has expressed interest in leaving his job in the next several months, a person close to him said Tuesday, as speculation raced through Washington that the White House was seeking Mr. Snow's replacement.

President Bush did little to tamp down the talk after a morning meeting about health care in the Roosevelt Room, where he responded with a tepid endorsement to a question about whether Mr. Snow would stay. The Treasury secretary was in the room as the president spoke.

This is one of the first resignations being forced through by the new puppetmaster in the White House, Bolten.

Speculation about Mr. Snow's departure has ebbed and flowed for more than a year but has intensified since Mr. Bush announced last week that Mr. Bolten would be his new chief of staff. Mr. Bolten, who once worked at Goldman Sachs, is said to be interested in filling the Treasury post with someone from Wall Street who could help reassure financial markets worried about record-high budget and trade deficits.

Sounds like on the even of Black Friday. Why is Wall Street worried about the trade deficit? They caused it! They are responsible for it! This makes no sense at all. They are terrified that we might have trade barriers which would prevent them from outsourcing all of America's jobs so they can collect obscene profits off the labor of third world technicians. The record high budget deficits are 100%+ their fault, they are the ones who lavished money for a massive propaganda campaign plus pouring funds into the GOP take over of America just so they could weasel out of paying taxes! They got their tax cuts and now we are going bankrupt.

Now they want someone in the Treasury who will blow the clarion trumpet to confiscate Social Security funds, cut all services to Americans to the bone and to spend like fiends on imperial adventures that benefit the military/industrial complex which is one and totally united with Wall Street thanks to privatization of all military matters.

Names circulating in Republican circles as possibilities for the Treasury job include Stanley O'Neal, the chairman and chief executive of Merrill Lynch, and Henry M. Paulson Jr., the chief executive of Goldman Sachs.

Hahaha. Last time we did this we got the Great Depression. Isn't this going to be fun.

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Comments

[JSmith]

Cassandra had an easy job...

All she needed to do was walk around muttering "Doom, doom" all the time. Since everything eventually goes all to hell anyway (see: entropy), she was never wrong as long as she stayed away from specifics (like who, what, when, how - especially when.)

The Delphic Oracles weren't much given to specifics either. Makes you wonder why the Greeks paid any attention to either of 'em.

"Gimme some news I can use, dammit, or you can do the high dive off that cliff, right into the sapphire-blue Agean. Capeche?"

[Elaine Meinel Supkis]

Inevitable: what goes up must come down. The higher they fly, the harder they fall.

Many people are keeping the American Titanic chugging ahead even as the waves wash over the prow. We are sinking but can pretend we are not sinking so long as the Chinese want us to think this. The hour they pull our plug, glub glub glub.

Preventing this inevitability means doing smart things now!