There has been a lot of talk in recent days of the possibility of Hillary Rodham Clinton serving in President Elect Obama's Cabinet. Far more interesting to me, being from New Jersey is the idea of Governor Jon Corzine becoming Secretary of Treasury. Corzine has had an interesting career, both in politics and in finances. Like many people to serve the Treasury, he made a large fortune for himself working for Goldman Sachs. He also has an impressive record for working toward liberal and populist causes. He was a friend of Paul Wellstone -the late senator from Wisconsin- a champion for liberalism who often went against the grain of his fellow Democrats. In the Senate, Corzine often fought for expanded health care, increased regulations, and was among those senators who voted against going to war with Iraq.
Of course, Corzine is by no means perfect. Many in his state are very critical of his decisions. Many site the Smoking Ban he signed as Governor as going against personal freedoms, and students in my state are critical of his decisions related to financial aide. In fact, Governor Corzine presides over what is seen as the most corrupt state in the union, "the Sopranos State" according to one journalist.
However, many are hopeful for a Treasury Secretary Corzine. "It is rare that someone with Corzine's record even gets on a list of prospective Treasury officials," The Nation columnist John Nichols wrote. Nichols quotes. Others, however, remain skeptical. "Oh, wait, I see, a former Senior Partner of Goldman Sachs is only a bad thing if he's a Republican? I understand now," one of Nichols's readers sarcastically wrote back.
Corzine would certainly be a risky choice. He has the potential to be both a great and a horrible Treasury Secretary. Of course, this is all still just speculation.
Would Corzine crash the economy into a ditch like he did to himself? Sorry, couldn’t resist that quip. In all seriousness, though, any person who doesn't wear a seatbelt while driving at 90+ miles per hour should rightly have his judgment questioned.
Besides that, you do bring up other credentials that make him appear a worthy candidate for the position. On the other hand, seeing how it was members his breed that got us into this financial mess, why should we think he (or anyone like him) will get us out?
he's had alot of really great decissions, and alot of really bad ones. Like I said though, it's not certain if he's even going to be Treasury sec, we just know that he's on the short list.
And I really don't think it was his "breed" that got us into this mess. He did work at Goldman Sachs, but ideologically, he differs quite a bit from the Ayn Rand worshipers who drove our economy into a ditch. At 90 MPH whithout wearing seatbelts (couldn't resist either)
"when you hold a pen, you are at war" Attributed to Voltaire
Perhaps he's not a member of the greedy banker "breed," but it is so easy anymore to just broadly blame every Wall Street tycoon with out current crisis, and I'm guilty of that too. But, image will be important to Obama: people may unjustly perceive Corzine as a greedy Wall Street-ite, and that may cause Americans to distrust him.
By the way, what would happen to Jersey if Corzine was selected? A special election? Are NJ residents willing to give up their governor, and is Corzine willing to leave them?
but i think alot of them wouldn't mind seeing Corzine go. The Democrats trust him to be Treasury Sec, and the Republicans just want him to be out of the state.
I don't know what NJ's special elections laws are, that is a good question
"How can we win where fools can be kings" Muse
Cosmic, congrats on being the week's featured blogger.
"when you hold a pen, you are at war" Attributed to Voltaire