Geithner’s Second Move Not So Good

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Give me a break. Last week, we heard that Obama’s revolving door restrictions (which I applauded) would be bypassed for the new No. 2 man in the DOD, who as recently as 2008 had been chief lobbyist for Raytheon, a massive defense contractor.

Now we’re hearing that Treasury Secretary Tim Geithner is making a recent lobbyist for Goldman Sachs named Mark Patterson his chief of staff. Less than a year ago, Patterson was going to Congress and the Treasury to pimp Goldman’s interests. Now he’ll play a pivotal role in handing out TARP funds to Goldman and others. How is this not an obviously impermissible conflict?

What makes this so bizarre is that Geithner just banned the use of TARP funds for lobbying purposes. (He literally did this earlier this morning.) He understands the… unhelpful role that lobbying can play when trying to make solid, untainted policy that is in the best interest of the public. And yet, somehow, he’s decided to make Patterson his chief of staff. And somehow, Obama is letting him.

How many waivers until the revolving door rules become meaningless? And why issue rules in the first place if the administration has the right to disobey them whenever it deems necessary?

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This is no time to come up short. It's time to fight like hell, as our namesake would tell us to do, for a democracy where minority rule cannot impose an extreme agenda, where facts matter, and where accountability has a chance at the polls and in the press. If you value our reporting and you can right now, please help us dig out of the $100,000 hole we're starting our new budgeting cycle in with an always-needed and always-appreciated donation today.

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