obama selects bill daley as new chief of staff

[saz]

a former j.p. morgan executive who opposed reigning in wall street, health insurace reform and the consumer protection agency, while favouring outsourcing jobs through nafta inspired trade agreements. daley is the classic wall street insider, who is more concerned with the interests of wall street, as opposed to the average person. obama continues to extend a middle finger to his base who got him elected.



Daley named as Obama chief of staff

By Stephanie Kirchgaessner and Tom Braithwaite in Washington
Published: January 6 2011 22:04 | Last updated: January 6 2011 22:04
The Financial Times (http://www.ft.com/cms/s/0/3d98868c-19df-11e0-b921-00144feab49a.html#axzz1AISSVXmV)


President Barack Obama has appointed JPMorgan Chase executive William Daley as his new chief of staff in a conciliatory gesture to the business community and the clearest evidence yet of a shift to the centre following last year’s midterm elections defeat.

Mr Daley, a commerce secretary under former president Bill Clinton, does not represent a radical shift for Mr Obama’s inner circle. He will succeed Rahm Emanuel, who is running to replace Richard Daley, William’s brother, as mayor of the president’s home town of Chicago, a job also once held by Mr Daley’s father.

Mr Daley is also close to David Axelrod, Mr Obama’s chief political adviser.

Mr Daley’s background in Washington and corporate experience at JPMorgan and telecommunications giant SBC, since renamed AT&T, could herald broader changes in the West Wing as it seeks to reset its sometimes frayed relationship with business.

Mr Obama said Mr Daley “possesses a deep understanding of how jobs are created and how to grow our economy”.

One of the president’s most vocal critics, the US Chamber of Commerce, called the move a “strong appointment”.

Mr Daley warned Democrats in 2009 they risked the “kind of rout that redraws the political map” if they advanced an agenda “far to the left of most voters”. He was also critical of the administration’s financial services reform and the healthcare law of 2010.

The Republicans’ election victory in November, which gave the party the majority of the House of Representatives, has already forced Mr Obama to make deals with Republicans, such as the agreement to extend Bush-era tax cuts.

Other major changes at the White House include the expected appointment on Friday of Gene Sperling, a senior Treasury official, to replace Larry Summers as Mr Obama’s top economic adviser.

[Echewta]

This country is crazy. Going any direction to the left is apparently suicide so all Dem Presidents have to go to the middle and do this kinda crap instead of having the nuts to represent who elected them. Yet, the Republicans are ok for going as right as they want.

Hopefully Bill Daley can finally confirm if Obama is a citizen or not.

Stewart/Colbert 2012

[kaiser soze]

The bank bail-out was a feeding frenzy, We've become the United Banks of America (n)

Why is Obama setting himself up for a "political coup de tat" in 2012?!?

[travesty]

Does anyone, at this point, still fail to beleive that Obama is anything other than just another corrupt Chigaco politician? I mean really. I said it during his election and I'll say it again. No one rises up as quickly as he did within the most historically corrupt political grounds (Chicago) without being in on the game.

[saz]

no, he's not a corrupt chicago politician. he's a republican-lite centre-right democrat, who caters to wall street. he's appointing all of the old clinton administration personel who championed deregulation of wall street and the financial industry.

[Bob]

perhaps this will be the thing that will stop people from calling him a socialist

is what i'm sure is thought process was

[kaiser soze]

oh the socialist gig is up

he's now "THE MOST CORRUPT PRESIDENT IN MODERN TIMES!!" as tagged by Darrell Issa (http://johnkingusa.blogs.cnn.com/2011/01/05/issa-defends-calling-obama-corrupt/)

Which I don't understand the hate because Mr. Issa himself doesn't mind extending his asshole to the corporations rather than representing the people.

games, that's all it is....games

[saz]

the democrats and republicans are the parties of wall street. the dems are the moderate arm of wall street, while the republicans are the conservative arm.

obama is now replacing larry summers, the director of the national economic council, with gene sperling, who was serving as a counselor to treasury secretary timothy geithner. sperling held this same position from '97-'01 during the clinton administration.


Gene Sperling, Leading NEC Director Candidate, Made Millions On Wall Street As Economy Tanked

William Alden | HuffPost Reporting (http://www.huffingtonpost.com/2010/12/22/sperling-nec_n_800167.html)
First Posted: 12-22-10 06:00 PM | Updated: 12-22-10 06:22 PM


By appointing Sperling, the president would fuel perceptions that his administration is overly close to Wall Street, installing a policymaker who has not only overseen monumental deregulation of the financial sector, but has also collected hefty paychecks from its leading firms.

The next NEC director will help determine the administration's economic policy over the next two years. Summers, who last week left his White House post for a Harvard professorship, met with the president almost daily to discuss economic decisions. Long sympathetic to Wall Street interests, Summers pushed for deregulation of financial instruments under President Clinton, a policy that experts -- and Clinton himself -- now say was misguided, contributing to the worst financial crisis since the Great Depression.

Sperling, if appointed, would be expected to take a stance similar to that of Summers and former Treasury Secretary Robert Rubin, said those familiar with his history. (Rubin became chairman of Citigroup after leaving the Clinton administration and later resigned from that post in disgrace.) Sperling worked under Rubin in the early Clinton years, when Rubin was NEC director. In Clinton's second term, during Sperling's own tenure as NEC director, Congress repealed the Glass-Steagall Act, prompting a rule-easing that allowed Citigroup to become the world's largest financial services company.




http://www.youtube.com/watch?v=IjSTQwamo8M

"For nearly four years you have had an Administration which instead of twirling its thumbs has rolled up its sleeves. We will keep our sleeves rolled up.

We had to struggle with the old enemies of peace—business and financial monopoly, speculation, reckless banking, class antagonism, sectionalism, war profiteering.

They had begun to consider the Government of the United States as a mere appendage to their own affairs. We know now that Government by organized money is just as dangerous as Government by organized mob.

Never before in all our history have these forces been so united against one candidate as they stand today. They are unanimous in their hate for me—and I welcome their hatred.

I should like to have it said of my first Administration that in it the forces of selfishness and of lust for power met their match. I should like to have it said of my second Administration that in it these forces met their master."

[kaiser soze]

I don't mind healthy capitalism, but I do mind unhealthy cannibalism

This is where the world economy is (or heading depending on your pessimism or optimism). We cannot see government surviving if these governments don't believe that money makes them.

Now what is the most unique about the U.S. compared to all governments and economies is that it is believe that is nation is a potential stake for all interested holders locally or internationally and that's dangerous. We have international corporations with little accountability when it matters and immense influence in our own democratic process with little to no transparency.

I'm sorry but I don't think this is working - it doesn't create jobs on our shores, it doesn't sustain fairness in politics, it doesn't help our environment, nor does it respect inalienable rights for those working to death or losing their livelihoods across the world.

The U.S. taxpayer bailout of entities who quickly distributed that wealth to offshore entities is living proof that this is has nothing to do with fairness, honesty, credibility, and accountability.

I demand a complete Audit of these bailouts.

[p-branez]

Just a giant revolving door of Washington veterans, Wall Street insiders, and academic economists who have the best "experiences" and "knowledge"...

"The Wisdom of Crowds: Why the Many Are Smarter Than the Few and How Collective Wisdom Shapes Business, Economies, Societies and Nations, published in 2004, is a book written by James Surowiecki about the aggregation of information in groups, resulting in decisions that, he argues, are often better than could have been made by any single member of the group. The book presents numerous case studies and anecdotes to illustrate its argument, and touches on several fields, primarily economics and psychology."

http://en.wikipedia.org/wiki/The_Wisdom_of_Crowds