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Leon Panetta, Obama's pick for CIA chief, earned $1.2 million last year as a corporate consultant, speechmaker, and board-sitter. (Included in that was a $150,000 fee for consulting for the Leon & Sylvia Panetta Institute for Public Policy at California State University. And if I were a California taxpayer, I'd be thrilled that the school was able to snag Leon Panetta to consult for the Leon Panetta Institute for a mere $150,000.) Like Tom Daschle, Panetta took in about $250,000 last year making speeches to corporations—Panetta got $56,000 from Merrill Lynch alone for two talks. I know there's been a lot of bashing of our corporate financial titans lately. How they live like pashas and pay themselves grotesque salaries in spite of the fact they have pretty much brought down the world's economies. But sometimes you've got to feel sorry for these former masters of the universe. For years they have been forced to sit at luncheons and fight to keep awake while listening to Tom Daschle or Leon Panetta drone on and on. How hard it must have been for them to fight the impulse to say, "Leon, I'll write you a check for $56,000 right now if you'll just stop talking."
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Isn't it time for Hillary Clinton to get a quickie divorce from Bill (it can be done; it took about 20 minutes for Madonna to dissolve her marriage) before her confirmation hearings start? The New York Times reports that over the last few weeks of negotiations between Obama's representatives and Bill, he has agreed to various restrictions on his business and philanthropic dealings to keep Hillary from getting mired in a bunch of scandals and conflicts. He promises to "submit his future personal speeches and business activities for review by State Department ethics officials and, if necessary, by the White House counsel’s office." Yeah, that should work, because if we know anything about Bill Clinton it's that a) He responds well to being on a short leash, and b) He's really good at filing timely paperwork.
Surely Hillary will not have trouble getting confirmed, but her hearings will be all about Bill—Sen. Richard Lugar virtually promises that. As her presidential campaign made clear, not only does Hillary not need Bill anymore, he has turned into a liability (except financially, and she would come away with a big settlement). And just think, if she divorced him, it would be the first time that their relationship made sense.
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And now on to a different Obama Cabinet post: At Newsweek, Michael Issikoff is reporting that Eric Holder will be tapped as Obama's attorney general, assuming he vets well. What I like about this choice is that it's bold but not crazy bold. The strike against Holder is that he signed off on Bill Clinton's pardon of Mark Rich, a crackup wherever you are on the ideological spectrum. On the other hand, Holder has a solid-to-gold reputation as a federal prosecutor. And he served as a not-fancy judge in the District of Columbia's Superior Court. When the right tried to tar him with the Rich screw up when he was on Obama's vice-president selection team, it didn't much stick--at least, not enough to fell him. The Obama folks must be making a similar calculation here.
I don't know enough about Holder's particular role in the Rich episode to know for sure whether they're right to look beyond it, but taken as a whole, Holder's record shows that he knows his stuff and should be able to run the Justice Department well. On national security, his rep is not hard left. That's of a piece with the move to the center that Obama made on wiretapping by the National Security Agency over the summer. It could mean that he's going to disappoint liberals who want to rip up every Bush administration DoJ order. This is the test of governing as opposed to criticizing from the outside. The Democrats are about to own the war on terror. Holder will be nothing like Alberto Gonzales; that I think we can count on. It's harder to know how many degrees apart he will be from the current attorney general, Michael Mukasey, who was sent in to clean up the Gonzales mess. For example, what will Holder do with Mukasey's recent order expanding the FBI's powers to infiltrate and investigate? May the tests begin.
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