The U.S. Senate confirmed Shaun L. S. Donovan as secretary of the U.S. Department of Housing and Urban Development (HUD) replacing former HUD chief Steven C. Preston.
Shaun Donovan was born in New York, is 42 and married. Donovan earned undergraduate and post graduate degrees from Harvard. This lead to positions at FHA and HUD in the Clinton administration prior to his current post as Commissioner of the New York City Department of Housing Preservation. Here’s the link if you’d like to read more about his NYC position.
What can I conclude about Obama’s decision to make Donovan the head of HUD?
Not much…this guy is really boring…but I’ll give it a shot.
It was rumored Obama was going to go with a Hispanic for the top job at HUD…so this appointment was a surprise in that regard.
It was totally NOT a surprise President Obama invested in another Harvard educated Clintonite. We all know now that if we didn’t have the financial wizards of the Clinton administration loosening all the safeguards on the system…the current financial locomotive wouldn’t now be coming off the tracks.
Donovan Not The Worst Obama Appointment
Admittedly, Donovan is not as evil as the Tim Geithner or as stupid Eric Holder (another Clintonite) appointments. Geithner got his early start at the knee of Henry Kissinger, worked at the IMF, and was the New York Fed Chairman who has been the point man of all the bungled bailouts including Bear Stearns and AIG. Many would call this the single two most costly money-pits the TARP funds ever got wasted on.
To refresh your memory, insurance giant AIG got caught sending 100’s of employees to a retreat that costs hundreds of thousands just weeks after getting billions of tax payer dollars. Then, believe it or not, even after the fallout of this scandal was still in the air, AIG did it again!.
Talk about arrogance…
Geithner was also the lead brokering Bear Stearns to JP Morgan at bargain basement prices with full government backing. In retrospect, everyone who cares to look now believes a Bear Stearns bankruptcy would not have been any worse for the country than if an airline went under.
But Geithner, Paulson, and Bernanke…told us all it would be devastating. Laughable.
If lying to the country to help one Wall Street firm gobble up a competitor with tax payer dollars qualifies a person to be Treasury Secretary…well, Geithner qualifies with room to spare.
As I said earlier, Donovan is not as questionable an appointment as the others, but often it’s the ones that get through with little fanfare that end up biting you in the backside.
Only time will tell…