Sponsors

Rove Replaced As Recovery Czar Email Print

Remember when Bush proclaimed Karl Rove was put in charge of the Gulf Coast Reconstruction:
Republicans said Karl Rove, the White House deputy chief of staff and Mr. Bush's chief political adviser, was in charge of the reconstruction effort, which reaches across many agencies of government and includes the direct involvement of Alphonso R. Jackson, secretary of housing and urban development.

Looks like he got fired from that job:
WASHINGTON – Donald Powell, chairman of the Federal Deposit Insurance Corp., has been assigned to oversee the federal government's disaster recovery efforts in the Gulf Coast, the Bush administration announced Tuesday.

Powell, 64, a wealthy contributor to President Bush's presidential campaign, will be in charge of the long-term plans to rebuild the states hit by hurricanes Katrina and Rita in the late summer. The sluggish federal response to Hurricane Katrina, the first and most damaging of the two, particularly has been widely criticized.

Powell is a Bush crony, one of his "Pioneers" who raised more than $100,ooo for Bush-Cheney '04. He's a rich banker, but qualifications in reconstruction? Nah. But hey. At least he's not a horse lawyer.


KEYWORDS: ,

Sign up for a Complimentary Member Account... Join the community! It's fast. And it'll allow you to take advantage of all this site's great features!

< Bad Numbers for Alito | Rove May Lose His Security Clearance >
 Display:
The FDIC board is an odd bipartisan beast/ 3 of one party 2 of the other. Marty Gruenberg, former staffer for Senator Sarbanes is the Vice Chair of the FDIC board. Until Powell is replaced, he'll likely be the acting chair.

In the short term this might have some effect on FDIC preemption of state laws for state banks, since Gruenberg opposes that. Also Wal-Mart currently has an application before the FDIC to be given permission to start up an industrial loan company. This has the community bankers in a rolling hissyfit because if Wal-Mart ever gets into banking in a big way they'll eat the small rural bankers' lunches. Of course most of us would hate to see Wal-Mart get any more power.

"If you're not writing some legislator at least once a month, you're not doing your job."

by bankbane on 11/02/2005 11:16:06 PM EST

Because he had leaked to Novak! Seattle Times

1992: The first President Bush fires Rove from his re-election campaign after information was leaked to columnist Robert Novak. Rove denies he was the source.

Apparently he is very hard to lose.

All it takes to fly is to hurl yourself at the ground... and miss. (Douglas Adams)

by scoophound on 11/03/2005 04:08:01 PM EST

Scoophound,

I hope you enter this morsel(Bush 41 fired Rove) as a separate nerve-center post so more people will see it.

by D Cupples on 11/03/2005 05:42:46 PM EST

[ Parent ]
 Display: