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Axelrod Admits 'Bumpy' Start for Bailout

By Ben Pershing
One (almost) down, one to go. That's President Obama's current scorecard on big-ticket proposals, as Congress has reached a deal on his signature stimulus legislation but the administration still faces a tough task in convincing a skeptical public and Congress that its financial rescue plan is worth the risk and the trillion-plus dollar outlay.

On that latter point, the White House realizes the obvious -- the banking plan made an inauspicious debut. In an interview Wednesday with Lois Romano for the Washington Post's "Voices of Power" video series, Obama senior adviser David Axelrod acknowledged that the unveiling of the bailout was "bumpy," but expressed confidence that the proposal would work.

"Well, I think it was a bumpy rollout because Wall Street was hoping for a complete answer to some really complex and expensive problems, and what Secretary Geithner laid out didn't meet those expectations, but he laid out a strategy that we think is going to work," Axelrod said. "In the coming weeks, he'll lay out tactics to support that strategy, and people will know exactly what's expected of them and what our role will be as a government."

And Axelrod expressed confidence that members of the the financial industry would eventually come on board with the administration's plan. "It may not be exactly the solution that they want. It may require more of them than they'd like, but I think they have an interest in seeing a solution, and I think they'll work with us on that
solution," he said.

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Posted at 8:28 AM ET on Feb 12, 2009  | Category:  The Rundown
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CORRECTION:

In earlier post, that was "renegade GOPers" and not "renege GOPers."

Although the wingnuts might prefer the typo.

Posted by: scrivener50 | February 12, 2009 3:38 PM

Axelrod is an interesting lesson in how a real person learns to become a Washington player; he's learned to call a disaster in the making a "bumpy roll out."

No one is buying TARP II because it's TARP I with lipstick, and Americans are being asked to bailout millionaires once again. Who in the world could find this plan feasible except banks and millionaires? It's quite plain who runs this so-called democracy, and it isn't us anymore, if it ever was.

Posted by: mossmtn | February 12, 2009 2:21 PM

SPECTER, SNOWE AND COLLINS GET THE 'SAVE'...

THAT'S A LESSON THAT IS NOT LOST ON OBAMA.

WATCH HIM BRING THIS BRAVE, DEFIANT TROIKA INTO HIS POLITICAL ORBIT.

This trio is getting savaged today in the hard-right blogosphere. What better measurement is there of their impact and effectiveness?

Now will these renege GOPers help right the human and civil rights abuses of the past eight years?

*******************************************

IT IS DAY 24 OF THE OBAMA ADMINISTRATION.

DO YOU *REALLY* KNOW WHAT YOUR 'MULTI-AGENCY ACTION CENTER' IS UP TO?

http://my.nowpublic.com/world/gestapo-usa-govt-funded-vigilante-network-targets-terrorizes-u-s-citizens

http://my.nowpublic.com/world/domestic-torture-radiation-weaponry-americas-horrific-shame

OR (if links are corrupted):

http://My.NowPublic.com/scrivener


Posted by: scrivener50 | February 12, 2009 12:11 PM

LOL

Posted by: JakeD | February 12, 2009 11:24 AM

Ok. So what do you arm chair quarterbacks suggest? He's got to work with the "same old-same old" Congress and he got a surprising amount done anyway. PS. Are you saying it is OK for Bush to run up a trillion dollar deficit that didn't help anyone but it's not OK for Obama to propose one that is at least aimed at helping the American people?

Posted by: BitterAmerican | February 12, 2009 10:50 AM

obama has displaying an astounding amount of "same old same old".

He's moving between incompetence and arrogance with head spinning vigor!

Posted by: newagent99 | February 12, 2009 9:41 AM

A good start for the administration would be to publicize how the heck they're going to pay for this $1.5 trillion plan. And how do they expect to strong-arm private investors into providing $500 billion in capital for this?

http://www.political-buzz.com/

Posted by: parkerfl1 | February 12, 2009 8:58 AM

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