Suskind: Insubordination in Obama Administration

Some troubling revelations in Ron Suskind’s new book about the Obama administration’s handling of the financial crisis:

The book states Geithner and the Treasury Department ignored a March 2009 order to consider dissolving banking giant Citigroup while continuing stress tests on banks, which were burdened with toxic mortgage assets.

In the book, Obama does not deny Suskind’s account, but does not reveal what he told Geithner when he found out. “Agitated may be too strong a word,” Suskind quotes Obama as saying. Obama says later in the book that he was trying to be decisive but “the speed with which the bureaucracy could exercise my decision was slower than I wanted.”

Geithner says in the book that he did not recall that Obama was mad at him about the Citigroup decision and rejected allegations contained in White House documents that his department had been slow to enact the president’s plans.

…”The Citbank incident, and others like it, reflected a more pernicious and personal dilemma emerging from inside the administration: that the young president’s authority was being systematically undermined or hedged by his seasoned advisers,” Suskind writes.

via The Associated Press: Book: Treasury Secretary ignored Obama directive.

 

Related posts:

  1. Does Obama Administration Have Less Business Experience?
  2. Markets Hate Obama, Love “Lost”
  3. 60 Minutes: Obama Says Wouldn’t Accept Geithner Resignation
  4. Column Watch: Me on Obama
  5. Obama: Why Do the Markets Hate Me So?

Comments

  1. Richard Proudlove says:

    Citi is untouchable!

  2. ted says:

    It's actually Ron Suskind, not Susskind…

  3. Namazu says:

    Reminds me of Bob Woodward's account of Obama's failure to exert authority over his generals when deciding how far to escalate in Afghanistan.

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