Clem’s Chronicles: Afghan Plan/Jobs Summit/Tiger Woods

Howdy folks-Clem Lane here. Big Jobs Summit at the White House tomorrow. Here's what's happening this evening……

PRESIDENT OBAMA’S AFGHAN PLAN/THE DAY AFTER-Members of the Obama Administration were on Capitol Hill today explaining and defending the plan for Afghanistan outlined by President Obama last night.  Secretary of State Hillary Clinton, Defense Secretary Robert Gates and Joint Chief s chairman Admiral Mike Mullen spent the morning in front of the Senate Armed Services Committee and the afternoon talking to the House Foreign Affairs Committee. The three, Jake Tapper noted on WORLD NEWS, “presented a unified front” in the face of questioning from Senators and Congressmen. Tapper reports that “some of the most skeptical questioners were President Obama’s fellow Democrats.” Leading Democrats said they had serious misgivings about the deployment of 30,000 more troops. For Republicans, troops weren’t the issue-it was the July 2011 target date mentioned by the President to start bringing troops home that rankled members. Tapper reports “Administration officials said the surge will create the conditions where 170 thousand Afghan troops can be trained by July 2011, a point at which US troops can begin to withdraw.” A point underscored by Defense Secretary Robert Gates in his interview this afternoon with Charles Gibson.Gates told Gibson ”What people need to understand is that July 2011 is the beginning of a process. It will be a gradual process and it will depend on the conditions in each province.” Gates added that “we will have a serious reassessment in December 2010 that will tell us if our strategy is on track and whether we will be able to meet that timeline.”

THE VIEW FROM AFGHANISTAN:  From the top commander in Afghanistan to Afghanis on the street – everyone in the country seemed to have an opinion on President Obama’s new war strategy.  We get a sampling from Jim Sciutto: "Many Afghans we met welcome most of the president's proposals – more US troops, more training for Afghan security forces, more anti-corruption measures – but what they're looking for is evidence, this time, the strategy will work.  In Kabul, Mohammed, a student, complained, there are senior ministers involved in corruption, and no one goes after them. And in Heart, Fazel, a shopkeeper, told us… if more forces are coming, they should actually make us safe.  The Taliban issued its own reaction, claiming more US troops will only bring more US casualties.” The top NATO and U.S.  commander in Afghanistan, General Stanley McChrystal says he believes the war in Afghanistan is at a turning point, as Jim explains: “He… gave his commanders a rousing pep-talk, saying the president's speech had given them a "new clarity of mission…providing their Afghan partners with the time, space and capability to defend their country." As McChrystal put it:  "There are going to be more long nights, more cold days, more memorial services, more frustrations, more questions, more answers to questions, but there will be more Afghans with a chance." (thanks to Ed Bailey for this entry)

WH JOB SUMMIT/HOW TO CREATE JOBS-On the eve of the White House Job Summit, Betsy Stark took a look at some of the ideas out there to create jobs. Take Eric Schmidt, the Google CEO. Stark: “Schmidt, who will be at the summit, told us that by using tax credits and other incentives, the country could create a million ‘green’ jobs….but some say these jobs will take years to create.” Other suggestions-small business maven Bill Dunkelberg “says the 400 thousand small businesses he represents need help now. His advice? Cut payroll taxes on workers and employers.” Another suggestion by John Silvia, the Chief Economist at Wells Fargo is to lower the minimum wage, thereby making it more attractive for businesses to hire workers. But Stark adds that “the idea is probably politically impossible. Far more popular are calls to restore the flow of credit to cash-starved small businesses, responsible for creating two-thirds of the country’s jobs.” The White House for its part appears not to be tipping its’ hand. Stark: “The White House said today no decisions have been made on which job initiatives it will ultimately support. But it also signaled that any new measures to create jobs would have to have a fairly small impact on the deficit.”

BANK OF AMERICA TO REPAY TARP MONIES-Bank of America announced this afternoon that it would repay the $45 billion in TARP money it owes the government after “the completion of a securities offering”. The move would allow Bank of America, which is trying to recruit a new CEO to succeed the retiring Ken Lewis, to free itself from government restrictions on executive pay that come along with bailout funds. What’s it all mean Dan Arnall? Arnall: “A quick bit of perspective here: Bank of America is one of the largest recipients of TARP funds ($45 billion just like Citi) and was a part of the original group of eight banks which received a taxpayer capital infusion on 10/28/2008. Of those firms, five have repaid their TARP funds (with interest), while Citigroup, Bank of America and Wells Fargo have not.
Today’s deal with the government requires Bank of America to pay back the $45 billion with $26.2 billion in cash on hand and an additional $18.8 billion it will raise by selling shares to investors within the next 105 days (some reports suggest the sale will take place within the next week).

TIGER WOODS:  Tiger Woods spoke out again today, releasing a statement via his website in which he said “I have let my family down and I regret those transgressions with all of my heart…I have not been true to my values and the behavior my family deserves” and requested – once again — privacy from the media and American public.  Here’s John Berman: “While Woods said he was sorry, he added, don’t expect him to say more…many public relations experts agree, Woods is better off keeping quiet.  But others, including his close friend Charles Barkeley, aren’t so sure: ‘Just come out.  Stand there like a man in front of the camera, and all this stuff could have been diffused.  I think Tiger made a mistake in that aspect, no matter what happened.’”  Woods’ statement came after US Weekly released audio they claim is the golfer begging an alleged mistress to change her outgoing voicemail message because “My wife went through my phone and may be calling you.”  When asked about the allegations of Tiger’s infidelity Jesper Parnevik, the golfer who introduced Elin and Tiger, told reporters today “I'm kind of filled with sorrow for Elin since me and my wife are at fault for hooking her up with him and we probably thought he was a better guy than he is then.  I would probably have to apologize to her and hope she uses a driver next time instead of a 3 iron."
Regarding his multi-million dollar endorsements, Dan Arnall reports “Tiger Woods' reputation as a squeaky-clean model athlete may be on the rocks, but it looks as if his ability to rake in tens of millions of dollars a year through endorsement deals will remain intact.  Three of Woods' sponsors — Nike, Gatorade and Electronic Arts — tell ABC News that they will continue their relationship with Woods. The companies issued statements today in support of Woods. To experts and Woods watchers, the news isn't unexpected. ‘He's always going to be Tiger Woods,’ said Boyce Watkins, a finance professor at Syracuse University. ‘He may have a tarnished legacy … [but] there' s absolutely no way you can take away the fact that Tiger Woods is the greatest golfer in the history of all mankind.’” (thanks to Marisa Bramwell for this entry)

HOUSE HEARING ON STATE DINNER SNAFU-The House Homeland Security Committee is holding a hearing tomorrow morning on last week’s State Dinner screw-up. We know that the Director of the Secret Service Mark Sullivan will be there to testify. We also know who won’t be there…the White House Social Secretary.  The White House is rejecting the committee's request that its social secretary, Desiree Rogers, testify. White House spokesman Robert Gibbs cited the separation of powers and a history of White House staff not testifying before Congress.On WORLD NEWS, Charles Gibson asked Terry Moran if we were heading for “an executive branch standoff.” Moran: “Strange, but true Charlie. This (invoking executive privilege) is quite a claim by the Obama Administration…. It’s a tricky issue, really, between Congress and the President. The President wants to keep his advisers shielded from inquiries so he gets frank and confidential advice.”

BERNANKE/SANDERS PUTS HOLD ON NOMINATION-From Matt Jaffe and Zach Wolf: “Liberal independent senator Bernie Sanders this evening placed a hold on the nomination for Federal Reserve chairman Ben Bernanke to serve a second term.
The night before Bernanke's Thursday confirmation hearing before the Senate Banking Committee, Sanders released a statement saying, ‘The American people want a new direction on Wall Street and at the Fed. They do not want as chairman someone who has been part of the problem and who has been responsible for many of the enormous difficulties that we are now experiencing. It's time for a change at the Fed.’
It is unclear how Sanders' block will affect Bernanke. Holds are a courtesy among senators and are not founded in procedure or law. Senate Majority leader Harry Reid could technically ignore Sanders' block and schedule a vote, so at this point it is hard to say how Bernanke's nomination will play out in light of this move. While Sanders' hold could delay the nomination, in the end it is still unlikely alone to scuttle Bernanke's quest for a second term.”

OTHER STUFF-
–PONZI SCHEME CONVICTION- A federal jury in St Paul has just convicted Thomas Petters, the former owner of Polaroid and Sun Country Airlines, of masterminding a long-running Ponzi scheme that bilked investors out of more than three and a half billion dollars. The scheme came to light last September when Petters’ former lover and once-trusted lieutenant, Deanna Coleman, walked into FBI HQ and revealed the massive fraud.  For more than a decade – Petters attracted massive investments from hedge funds and others – purportedly to buy discounted consumer electronic goods and re-sell them to national big-box stores.  But the whole thing was, according the government, a massive con-game. (James Hill)
–NY GAY MARRIAGE VOTED DOWN-The NY Senate voted down same-sex marriage this afternoon in a 24-38 vote. 32 votes were needed. Gay marriage is legal in Connecticut, Iowa, Massachusetts and Vermont. A New Hampshire law takes effect Jan. 1. (Aaron Katersky)
–ADDITIONAL CHARGES FOR HASAN- The Army has charged the suspect in the Fort Hood shooting spree with 32 counts of attempted premeditated murder. The charges are in addition to the 13 premeditated murder charges filed against Maj. Nidal Hasan  in the Nov. 5 massacre at Fort Hood. The Army says the attempted murder charges filed Wednesday are related to the 30 soldiers and two civilian police officers injured in the shooting at a soldier processing center on the central Texas post. (Megan Chuchmach/Michael Kreisel)