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- Responding to news that AIG plans to fulfill a pre-bailout contractual obligation of awarding over $100 million in bonuses to top executives, Adam Nagourney writes that "The Obama administration is increasingly concerned about a populist backlash against banks and Wall Street, worried that anger at financial institutions could also end up being directed at Congress and the White House and could complicate President Obama’s agenda." Indeed, there's no shortage of outrage being expressed over AIG's claims that the bonuses are necessary to "attract and retain the best and brightest talent." President Obama has vowed to seek legal recourse for blocking the bonuses, which seems pretty tepid, although it might be worth a lawsuit to see these uniquely talented executives justify why they should receivee millions in bonuses for running a multi-billion dollar firm into the ground.
- There certainly is the potential for public blowback over the handling of Wall Street's collapse, dating back to the initial bailout negotiations last Fall. But when, precisely, that will start being directed at the Obama administration is difficult to say, particularly given that the president, in conjunction with the DNC, plans to initiate a massive grassroots effort of its own to build support behind Obama's ambitious budget. Naturally the right wing will push back with their own brand of activism, but somehow I think the empty and ignorant threats to "go Galt" are going to come up a wee bit short.
- Also likely to fall on deaf ears is the tendency, exemplified by this curious Saturday Washington Post story, to claim that Barack Obama is being "partisan" or acting beneath the dignity of his office to note that his predecessor left him with the economic crisis and now he has to clean it up. Funny the Post couldn't find the courage to criticize W when he made the same observation about his predecessor eight years ago, but hey, that's not how this game is played!
- In the spirit of bashing The Washington Post's strange pathological need to assure themselves that Washington is, was, and always shall be ruled by conservative Republicans, marvel at this parade of conservatives criticizing the horrible, terrible, no-good practice of earmarks and wonder why there's no input from someone who doesn't think the practice is the root of all budgetary evil. Let your antidote be this level-headed dose of Jonathan Rauch.
- If PA Gov. Ed Rendell is to be believed, efforts to persuade Arlen Specter to switch parties were rejected by the Pennsylvania Republican, which has led to speculation that Specter will not vote for EFCA as a way of protecting himself from a primary challenge.
- I can't say I'm too broken up about the donor pool drying up for the George W. Bush presidential library, particularly when the project is already engaged in a thorough whitewashing of its namesake's history before ground is even broken.
- Weekend Remainders: Michael Steele orders a media blackout (and just in time); policy details are a frightening concept for the GOP leadership; a House Republican thinks now is a good time to require presidents to submit a birth certificate before they run for office; a real socialist describes having nothing in common with our would-be socialist president; and behold the shamelessness of Fox News.
--Mori Dinauer
