Commentary Magazine


Topic: Citigroup Inc.

Flotsam and Jetsam

Oops — maybe we shouldn’t have pulled our missile defenses out of the Czech Republic and Poland. “The stated rationale at the time was: Since the sites were intended to defend America and our allies from Iranian missiles, and our intelligence estimated that the Iranians were a long way from fielding such missiles, the sites were unnecessary. Now, this was a transparently flimsy excuse even at the time. … But the story gets even fishier. A new estimate sent from the Defense Department to Capitol Hill puts the date at which Iran could threaten the U.S. homeland with a ballistic missile at 2015.”

Oops – Gallup delivers some bad news to the Obami (but then again, they say they don’t look at polls): “President Barack Obama averaged 48.8% job approval for his fifth quarter in office, spanning Jan. 20-April 19 Gallup Daily tracking. That is the lowest of his presidency to date, though not appreciably worse than his 50.8% fourth quarter average. … Obama’s latest quarterly score of 48.8% is below average by historical standards, ranking in the 35th percentile of all presidential quarters for which Gallup has data, dating to 1945. The average historical quarterly approval average is 54%. Additionally, Obama’s latest quarterly average does not compare favorably to other elected presidents’ averages at similar points in their presidencies.”

Oops — message confusion: “Wall Street provided three of Obama’s seven biggest sources of contributors for his presidential bid. In 2007 and 2008, Goldman Sachs employees and family members gave him $994,795, Citigroup Inc. $701,290, and JPMorgan Chase & Co. $695,132.”

Oops — for those who vouched for Obama’s pro-Israel credentials: “Israel’s defense minister expressed concern Monday about deteriorating relations with the United States and warned that ‘the growing alienation’ with President Obama’s administration ‘is not a good thing for the state of Israel.’ … As for reports that the Obama administration might try to impose some sort of peace plan on the Israelis and Palestinians, Netanyahu said, ‘I don’t believe anyone will seriously think you can impose peace. Peace has to come from the parties sitting down with each other and resolving their differences.’”

Oops — apparently no one really likes Charlie Crist. From Public Policy Polling: “It’s his fall with Republicans that gets all the attention, but Charlie Crist’s poll numbers have declined almost as badly with Democrats and independents over the last year as they have within his own party. And that makes me doubt he would be successful in an independent Senate bid even if he did decide to make a run for it.”

Oops — Bill Clinton’s cover is blown. “Mr. Clinton’s opposition to ‘demonizing the government’ would be more credible had he been heard from on the subject during the first eight years after he left office—when, for example, Hollywood demonized George W. Bush by releasing ‘Fahrenheit 9/11,’ or when Mr. Clinton’s own former Vice President railed against the man who beat him in 2000: ‘He betrayed this country!’ Instead, Mr. Clinton’s effort to exploit the memory of Oklahoma City looks like a partisan cheap shot. In his speech last week, the former President observed that, unlike the Boston Tea Party, ‘this fight is about taxation by duly, honestly elected representatives that you don’t happen to agree with, that you can vote out at the next election.’ Our guess is that the next election is what he’s really afraid of.”

Oops — an inconvenient truth for climate-change fanatics: “Fifty-nine percent (59%) of Americans now believe there is a significant disagreement within the scientific community over global warming, up seven points from early December just after the so-called ‘Climategate’ scandal involving doctored or deliberately undisclosed scientific evidence first broke.”

Oops– a crack in the Eric Holder stonewall: “For nearly a year, the U.S. Commission on Civil Rights has been investigating the Department of Justice’s voluntary dismissal of a voter intimidation suit against the New Black Panther Party and some of its members. On Friday morning of this week, the commission will conduct a public hearing on the matter. A number of witnesses are expected to testify concerning the incident that gave rise to DOJ’s lawsuit. A second hearing will likely take place in May to adduce additional evidence from the DOJ. The commission will issue a report on its findings to the president and Congress in the next few months.”

Oops — maybe we shouldn’t have pulled our missile defenses out of the Czech Republic and Poland. “The stated rationale at the time was: Since the sites were intended to defend America and our allies from Iranian missiles, and our intelligence estimated that the Iranians were a long way from fielding such missiles, the sites were unnecessary. Now, this was a transparently flimsy excuse even at the time. … But the story gets even fishier. A new estimate sent from the Defense Department to Capitol Hill puts the date at which Iran could threaten the U.S. homeland with a ballistic missile at 2015.”

Oops – Gallup delivers some bad news to the Obami (but then again, they say they don’t look at polls): “President Barack Obama averaged 48.8% job approval for his fifth quarter in office, spanning Jan. 20-April 19 Gallup Daily tracking. That is the lowest of his presidency to date, though not appreciably worse than his 50.8% fourth quarter average. … Obama’s latest quarterly score of 48.8% is below average by historical standards, ranking in the 35th percentile of all presidential quarters for which Gallup has data, dating to 1945. The average historical quarterly approval average is 54%. Additionally, Obama’s latest quarterly average does not compare favorably to other elected presidents’ averages at similar points in their presidencies.”

Oops — message confusion: “Wall Street provided three of Obama’s seven biggest sources of contributors for his presidential bid. In 2007 and 2008, Goldman Sachs employees and family members gave him $994,795, Citigroup Inc. $701,290, and JPMorgan Chase & Co. $695,132.”

Oops — for those who vouched for Obama’s pro-Israel credentials: “Israel’s defense minister expressed concern Monday about deteriorating relations with the United States and warned that ‘the growing alienation’ with President Obama’s administration ‘is not a good thing for the state of Israel.’ … As for reports that the Obama administration might try to impose some sort of peace plan on the Israelis and Palestinians, Netanyahu said, ‘I don’t believe anyone will seriously think you can impose peace. Peace has to come from the parties sitting down with each other and resolving their differences.’”

Oops — apparently no one really likes Charlie Crist. From Public Policy Polling: “It’s his fall with Republicans that gets all the attention, but Charlie Crist’s poll numbers have declined almost as badly with Democrats and independents over the last year as they have within his own party. And that makes me doubt he would be successful in an independent Senate bid even if he did decide to make a run for it.”

Oops — Bill Clinton’s cover is blown. “Mr. Clinton’s opposition to ‘demonizing the government’ would be more credible had he been heard from on the subject during the first eight years after he left office—when, for example, Hollywood demonized George W. Bush by releasing ‘Fahrenheit 9/11,’ or when Mr. Clinton’s own former Vice President railed against the man who beat him in 2000: ‘He betrayed this country!’ Instead, Mr. Clinton’s effort to exploit the memory of Oklahoma City looks like a partisan cheap shot. In his speech last week, the former President observed that, unlike the Boston Tea Party, ‘this fight is about taxation by duly, honestly elected representatives that you don’t happen to agree with, that you can vote out at the next election.’ Our guess is that the next election is what he’s really afraid of.”

Oops — an inconvenient truth for climate-change fanatics: “Fifty-nine percent (59%) of Americans now believe there is a significant disagreement within the scientific community over global warming, up seven points from early December just after the so-called ‘Climategate’ scandal involving doctored or deliberately undisclosed scientific evidence first broke.”

Oops– a crack in the Eric Holder stonewall: “For nearly a year, the U.S. Commission on Civil Rights has been investigating the Department of Justice’s voluntary dismissal of a voter intimidation suit against the New Black Panther Party and some of its members. On Friday morning of this week, the commission will conduct a public hearing on the matter. A number of witnesses are expected to testify concerning the incident that gave rise to DOJ’s lawsuit. A second hearing will likely take place in May to adduce additional evidence from the DOJ. The commission will issue a report on its findings to the president and Congress in the next few months.”

Read Less

Flotsam and Jetsam

Tom Jensen of Public Policy Polling observes that Sen. Michael Bennet is trailing all Republicans in a potential 2010 race, one by as much as nine points. He notes that this “is a reminder that Democratic Governors sure didn’t do their party in the Senate any favors with their appointments last year. The appointments of Michael Bennet in Colorado, Ted Kaufman in Delaware, Roland Burris in Illinois, and Kirsten Gillibrand in New York put all of those seats in play for next year and it really didn’t have to be that way.”

James Capretta and Yuval Levin explain ReidCare: “In other words, rather than build on the failed cost-control model of Medicare, they now want to actually further burden Medicare itself. Why take a roundabout path to failure when a direct one is available? The irrationality of this solution is staggering. But, of course, it’s a solution to Reid’s political problem, not to the nation’s health care financing crisis.”

The New York Times thinks ReidCare is in trouble too: “Democratic leaders hit a rough patch Friday in their push for sweeping health care legislation, as they tried to fend off criticism of their proposals from a top Medicare official, Republicans and even members of their own party. . .Republicans said [the Medicare actuary's] report confirmed what they had been saying for months. ‘It is a remarkable report,’ said Senator Mike Johanns, Republican of Nebraska. ‘It is a roundhouse blow to the Reid plan.’” We’ll see.

Dana Milbank thinks Senate Democrats could find a better leader. He explains that “as his public-option gambit demonstrated, merely dangling proposals, regardless of how meritorious they may be, doesn’t cause them to become law — and it may cause Democrats from more conservative states, such as Lincoln’s Arkansas, to lose their jobs.” And lose his own as well. Millbank thinks his caucus might be happier with Dick Durbin or Chuck Schumer. Well, they might get their wish, given Reid’s polling.

Looking at the dismal polling on ObamaCare and the CBS polling showing Obama leading George W. Bush by only a 50-to-44-percent margin, James Taranto argues that “these results almost surely represent a backlash against Obama and Congress’s Democrats. Their insistence on pushing ahead and forcing on the country a health-care scheme that by now is almost as unpopular as it is monstrous is without a doubt a major factor here.” And it might be that a cold, ultra-liberal president who blames his problems on his predecessor really isn’t what they all had in mind.

An excellent development, and perhaps a sign that the Obami are waking up to the reality of the thugocracy of Iran: “More than $2 billion allegedly held on behalf of Iran in Citigroup Inc. accounts were secretly ordered frozen last year by a federal court in Manhattan, in what appears to be the biggest seizure of Iranian assets abroad since the 1979 Islamic revolution. . .President Barack Obama has pledged to enact new economic sanctions on Iran at year-end if Tehran doesn’t respond to international calls for negotiations over its nuclear-fuel program.”

Obama is still sliding: “The Rasmussen Reports daily Presidential Tracking Poll for Saturday shows that 25% of the nation’s voters Strongly Approve of the way that Barack Obama is performing his role as President. Forty-one percent (41%) Strongly Disapprove giving Obama a Presidential Approval Index rating of -16. That’s the lowest Approval Index rating yet recorded for this President.”

It’s the “international community” after all: “Iranian Prime Minister Mahmoud Ahmadinejad, Venezuelan President Hugo Chavez and Zimbabwean President Robert Mugabe plan to address negotiators at international climate talks in Copenhagen next week.”

Tom Jensen of Public Policy Polling observes that Sen. Michael Bennet is trailing all Republicans in a potential 2010 race, one by as much as nine points. He notes that this “is a reminder that Democratic Governors sure didn’t do their party in the Senate any favors with their appointments last year. The appointments of Michael Bennet in Colorado, Ted Kaufman in Delaware, Roland Burris in Illinois, and Kirsten Gillibrand in New York put all of those seats in play for next year and it really didn’t have to be that way.”

James Capretta and Yuval Levin explain ReidCare: “In other words, rather than build on the failed cost-control model of Medicare, they now want to actually further burden Medicare itself. Why take a roundabout path to failure when a direct one is available? The irrationality of this solution is staggering. But, of course, it’s a solution to Reid’s political problem, not to the nation’s health care financing crisis.”

The New York Times thinks ReidCare is in trouble too: “Democratic leaders hit a rough patch Friday in their push for sweeping health care legislation, as they tried to fend off criticism of their proposals from a top Medicare official, Republicans and even members of their own party. . .Republicans said [the Medicare actuary's] report confirmed what they had been saying for months. ‘It is a remarkable report,’ said Senator Mike Johanns, Republican of Nebraska. ‘It is a roundhouse blow to the Reid plan.’” We’ll see.

Dana Milbank thinks Senate Democrats could find a better leader. He explains that “as his public-option gambit demonstrated, merely dangling proposals, regardless of how meritorious they may be, doesn’t cause them to become law — and it may cause Democrats from more conservative states, such as Lincoln’s Arkansas, to lose their jobs.” And lose his own as well. Millbank thinks his caucus might be happier with Dick Durbin or Chuck Schumer. Well, they might get their wish, given Reid’s polling.

Looking at the dismal polling on ObamaCare and the CBS polling showing Obama leading George W. Bush by only a 50-to-44-percent margin, James Taranto argues that “these results almost surely represent a backlash against Obama and Congress’s Democrats. Their insistence on pushing ahead and forcing on the country a health-care scheme that by now is almost as unpopular as it is monstrous is without a doubt a major factor here.” And it might be that a cold, ultra-liberal president who blames his problems on his predecessor really isn’t what they all had in mind.

An excellent development, and perhaps a sign that the Obami are waking up to the reality of the thugocracy of Iran: “More than $2 billion allegedly held on behalf of Iran in Citigroup Inc. accounts were secretly ordered frozen last year by a federal court in Manhattan, in what appears to be the biggest seizure of Iranian assets abroad since the 1979 Islamic revolution. . .President Barack Obama has pledged to enact new economic sanctions on Iran at year-end if Tehran doesn’t respond to international calls for negotiations over its nuclear-fuel program.”

Obama is still sliding: “The Rasmussen Reports daily Presidential Tracking Poll for Saturday shows that 25% of the nation’s voters Strongly Approve of the way that Barack Obama is performing his role as President. Forty-one percent (41%) Strongly Disapprove giving Obama a Presidential Approval Index rating of -16. That’s the lowest Approval Index rating yet recorded for this President.”

It’s the “international community” after all: “Iranian Prime Minister Mahmoud Ahmadinejad, Venezuelan President Hugo Chavez and Zimbabwean President Robert Mugabe plan to address negotiators at international climate talks in Copenhagen next week.”

Read Less




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