POLITICAL observations & opinions

* it’s time for the Obama administration to demonstrate its management skills

Posted by Lew Weinstein on April 12, 2009

 Michael Hirsh writes in Newsweek (4/10/09) …

  • Not long ago (March 23), a group of skeptical Democratic senators met at the White House with President Obama, his chief economic adviser, Larry Summers, and Treasury Secretary Tim Geithner.
  • The six senators said the financial reform policies the president was pursuing were not going far enough, and the people Obama was choosing as his regulators were not going to change things fundamentally enough.
  • While it clearly wants to install serious supervision, the Obama administration—along with other key authorities like the New York Fed—appears willing to stand back while Wall Street resurrects much of the ultracomplex global trading system that helped lead to the worst financial collapse since the Depression.
  • A newly assertive Wall Street emerged recently; its goal: to stand against heavy regulation of “over-the-counter” derivatives … even as we are still picking up the debris, we seem to be ready to embrace that world once again.

LMW COMMENT … As hard as it is to deal with big issues in the glare of public crisis, the real test of President Obama’s governance will come in the relative quiet of sustained deliberation and management. Will Obama shine here as he has in the limelight? Will his management skills prove the equal of his obvious political skills? Management is harder and less dramatic than politics, but in the long run it is far more important. American voters have rarely valued management skills, at any level of government. Maybe it’s time we did.

 

Read the entire article at … http://www.newsweek.com/id/193360

 

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