Blog ››› ››› ERIC BOEHLERT
Maintaining its drumbeat of relatively pointless articles about the new Obama administration, Politico thinks it's a big deal there are no CEO's inside the new cabinet. Because only titans of business know how to run economies, right? Politico also suggests it's been the norm for decades to include CEO's in White House cabinets, although the historical proof it provides is rather sketchy.
We chuckled though, when Politico, leaning heavily on the angle that the lack of CEO's might hurt Obama, noted:
That's in contrast with other recent administrations, which have seen a host of ex-CEOs and businesspeople in the president's inner circle. George W. Bush, for example, selected three consecutive ex-CEOs as Treasury secretary: Paul O'Neill, former CEO of Alcoa, John Snow, former CEO of CSX, and Hank Paulson, former CEO of Goldman Sachs. By contrast, Obama's pick for the same position is Timothy Geithner, a veteran bureaucrat who served as president of the Federal Reserve Bank of New York.
Hmm, Bush appointed three former CEO's to run the Treasury Dept. (i.e. to help run the economy), and now the Obama administration has to try to undo the extraordinary damage done to the economy during the Bush years.
But Politico still thinks it's weird that Obama's not following Bush's lead.