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Well my next guest is the author of a terrific explosive new book on the infighting within the Obama administration the policy choices that confronted.
A young inexperienced president.
And all that unfolded.
From a unique perspective the pork confidence men Wall Street Washington and the education.
Of a president in it Pulitzer Prize winning journalist Ron suspect writes quote.
During so many days of crisis in his first two years Obama often felt that performance that performance pressure.
Having to play the part of president in charge and competent each day in front of -- season.
Combative -- full team many of whom have altogether recently served.
As He confided to one of his closest advisors ever after a private display of uncertainty.
Quote I can't let people see that I don't want the staff to see that but I get up every morning it's a heavy burden.
Joining us now the best selling author of this outstanding book prompts us kind run rate to see a just I have to say of the mini book hubris.
All of them terrific work I I truly believe.
This is your very best it is not stand.
Well thank you Lou it was a it was a it was a bear to write the report and of course they're coming that may now but that's that is what kind of -- what's that Nixon line.
But the -- for tarred and -- -- at a -- and a relative to wasn't for the honor of the thing I'd rather walk nonetheless it shows you -- the bell.
In most cases when you pull back the curtain on the White House it's like kick in the bee's -- are gonna come out.
I am I have to tighter they -- page after page after after -- or gonna ask if around the world are wrong get access to this White House what in the world.
Where they think.
What you know what to be fair you know I came in pent up they'd read the bush but it's a -- bush -- of course that was they were favorites of folks in that administration certainly Democrats folks in the left I said all along.
Just like Bob Woodward or any of the say I'm a reporter I'm not a member of one of the teams left to right -- here to report.
And and that is in our view is old style reporters the stuff of informed consent that's what we do and what we did hear I reported.
The evidence gathered over more than two years I interviewed every senior official of consequence.
And the president himself people left the administration as well -- you've people on Wall Street because this is really a battle between two cities new York and Washington.
And in and you drawn out.
And station weapons stage right here it Washington and new York and you do -- -- -- and and compellingly.
To see the interaction.
Amongst the -- and all the financial firms.
And this administration and an early.
-- an early onset.
With with Robert wolf yeah by the -- Remarkable I hit end and frankly it or read your book I have no idea that He and that kind of that He had presaged.
What was unfolding Sorrell yet its interest in it was Wall Street Journal reporter for ten years and I have a lot of friends -- lost a lot of sources.
And -- -- -- checked the -- -- in my goodness wolf who was a close advisor to Obama none headed up fundraising form on Wall Street.
That He really got the first plants are one of the very first one to -- sends a memo to the other executives that UBS thing disasters coming.
And then He says what should I tell Obama -- just the contributor for says I need to be an advisor now and from the the flying deck of a 110 foot the -- Long Island Sound.
Only -- hedge fund manager -- melting down below -- us -- fund is just collapsing He calls a mom and He says Iraq.
This is a once in a lifetime event in market driven disaster.
Well bombing get some glimpse of the future and interestingly Obama is ahead of every other politician -- America.
Saying we need to reform Wall Street there are excesses it is not helping the American economy.
All of that puts on the head of the game and helps -- beat McCain frankly that's the key when they have that audition in September of oh wait and it's a crisis in two candidates are auditioning Obama crosses.
Our impressions from an end in and and I never called the name of the problems of -- -- where -- drawn out drama because he's losing his.
Feel that's our in the markets has that this is all unwinding you get in the tension that is already very extraordinary I mean it's very cinematic obviously I.
You know I mean the thing -- -- an investigative reporter but my Pulitzer Prize have to be in feature writing so I feel like investigative work.
It ought to have some narrative.
If you get it helps the reader get a crossed that long distance of 500 pages and and the wonderful thing and Miller.
Our -- is that there's an insight into the policy decisions in the way in which they are put together an and the influence of personalities on those.
Policies whether it be Paulson -- whether -- be Geithner.
-- -- Rather be the president himself you it's it's truly extraordinary in that respect I have a rule that I use and all my books and all my reported across 25 years since what I call my good enough reasons -- people do -- they -- for good enough reasons good enough that -- -- -- action the thing you can see they may not be your reasons -- -- but they're good enough.
No those reasons.
And in this book.
I dig deeply of all the source to see what's driving that what you're good enough reason.
It also becomes very poor Republicans did know what the -- they were doing now.
Democrats did know what the heck they were doing and we -- sitting here today with a market that has lost over a trillion dollars so far this week.
And and the fact is the issues are much the -- -- I think it's clear though that the Democrats had the historic opportunity I think that is apps -- indisputable.
By virtue of the victory of Obama.
At that moment of crisis.
His arrival with a 70% approval rating two million people weeping on the mall -- parties frankly.
He had it in his hands in that.
Early first second and third month of 2009.
The way credit flows in America we have a busted system I think that's proven today.
He had -- and He blew it He missed the opportunity I know Obama looks back and that I'm sure and says wow that was my chance maybe I -- have one again.
But what you see in the book is why that happened.
A man who called for a fundamental transformation of America five days -- to Margaret.
He ends up as you document so well and so just a river -- -- ends up being the one transformed in this market and we thank you for being around those kind congratulations on a terrific -- thank you.
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