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Mon Jan 9, 2012, 05:55 PM

Obama's chief of staff resigns (yet again), to be replaced by another shady Wall Street banker

Jeez. These guys don't waste any time do they?



Bill Daley Resigning: Obama Chief Of Staff Stepping Down
(January 9, 2011)

WASHINGTON — In an abrupt jolt to the White House, President Barack Obama announced Monday that chief of staff William Daley was quitting and heading home to Chicago, capping a short and rocky tenure that had been expected to last until Election Day in November. Obama budget chief Jack Lew will take over the job...



Daley, a former JP Morgan executive, to be replaced by this guy:



Jack Lew: Obama's OMB Pick Oversaw Citigroup Unit That Shorted Housing Market
(July 14, 2010)

President Barack Obama's choice to lead the White House budget office oversaw a Citigroup unit that profited off the housing collapse and financial crisis by investing in a hedge fund king who correctly predicted the eventual subprime meltdown and now finds himself involved in the center of the U.S. government's fraud case against Goldman Sachs...

31 replies, 3556 views

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Arrow 31 replies Author Time Post
Reply Obama's chief of staff resigns (yet again), to be replaced by another shady Wall Street banker (Original post)
gyroscope Jan 2012 OP
xchrom Jan 2012 #1
OKNancy Jan 2012 #2
AtomicKitten Jan 2012 #6
gyroscope Jan 2012 #8
OKNancy Jan 2012 #13
Schema Thing Jan 2012 #3
gyroscope Jan 2012 #5
Sheepshank Jan 2012 #24
Enrique Jan 2012 #4
gyroscope Jan 2012 #7
boxman15 Jan 2012 #10
gyroscope Jan 2012 #11
Tx4obama Jan 2012 #21
Maven Jan 2012 #28
Sheepshank Jan 2012 #25
kenny blankenship Jan 2012 #23
banned from Kos Jan 2012 #9
girl gone mad Jan 2012 #12
AnotherMcIntosh Jan 2012 #14
sarcasmo Jan 2012 #15
woo me with science Jan 2012 #16
emilyg Jan 2012 #17
mvd Jan 2012 #18
Maven Jan 2012 #20
just1voice Jan 2012 #19
_ed_ Jan 2012 #22
99Forever Jan 2012 #26
JackRiddler Jan 2012 #27
gyroscope Jan 2012 #30
ddeclue Jan 2012 #29
TransitJohn Jan 2012 #31

Response to gyroscope (Original post)

Mon Jan 9, 2012, 05:57 PM

1. du rec. nt

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Response to gyroscope (Original post)

Mon Jan 9, 2012, 06:03 PM

2. I actually looked up and read some things about Lew that sound really good

3. He's no moderate. When Obama named Bill Daley to succeed Rahm Emanuel, he was seen as a move to shore up the president's support among business leaders and the private sector. Daley, a former JPMorgan representative, was one of them. Lew's appointment fits with the leftward, populist tone that Obama has adopted as he enter the campaign season. The new chief of staff is a staunch liberal: he started his political career canvassing for anti-war hero Eugene McCarthy in 1968 (he was 12); his adviser at Carleton College was Paul Wellstone, later an iconic liberal senator; and one of his first jobs in Washington was working for Democratic lion and former Speaker of the House Tip O'Neill. But despite his acute partisan sensibility, he has long had a reputation for earning the trust of and working well with Republicans.

http://www.theatlantic.com/politics/archive/2012/01/who-is-new-white-house-chief-of-staff-jack-lew/251110/

ETA: the Atlantic calls him: The president's new right-hand man is a bookish, private man, but he's also an outspoken liberal who fits Obama's new populist tone.

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Response to OKNancy (Reply #2)

Mon Jan 9, 2012, 06:15 PM

6. I've read similar findings as that.

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Response to OKNancy (Reply #2)

Mon Jan 9, 2012, 06:23 PM

8. You're judging Lew based on what he did when he was 12?


instead of what he did as an adult to defraud homeowners and wreck the economy?

just amazing.

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Response to gyroscope (Reply #8)

Mon Jan 9, 2012, 07:09 PM

13. no, I read the whole article and another one as well

I wasn't familiar with him at all. Do you know for sure that in the three years he was with Citi group if he did what you accuse him of, or are you just wanting to look for the bad in anyone who works for Obama?

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Response to gyroscope (Original post)

Mon Jan 9, 2012, 06:05 PM

3. Jack Lew is a far more progressive Liberal than Yew.



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Response to Schema Thing (Reply #3)

Mon Jan 9, 2012, 06:11 PM

5. Sure he is

if working for Citibank helping them to perpetuate mortgage and securities fraud in the subprime market, is your idea of a progressive...

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Response to gyroscope (Reply #5)

Tue Jan 10, 2012, 10:51 AM

24. I live in Utah and work for a Gov't where the top dudes are Mormons....

.....I can see exactly how you would have judged me.

And you would be wrong.

Your OP title has absolutely NO supporting evidence...just a mere speculation intended to throw a manufactured tizzy into the works.

FAIL.

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Response to gyroscope (Original post)

Mon Jan 9, 2012, 06:07 PM

4. 3 for 3 bankers in that position

Rahm, Daley and now Lew.

COS is known as the "gatekeeper" into the White House. Makes sense that Wall Street needs to occupy that spot.

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Response to Enrique (Reply #4)

Mon Jan 9, 2012, 06:19 PM

7. As we all know

the main function of the gatekeeper is to keep out all those pesky 'retarded liberals.'

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Response to gyroscope (Reply #7)

Mon Jan 9, 2012, 06:34 PM

10. I'm no fan of Rahm, but he never called liberals retarded.

That quote is always taken out of context here. It drives me mad.

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Response to boxman15 (Reply #10)

Mon Jan 9, 2012, 06:39 PM

11. Are you sure about that?

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Response to gyroscope (Reply #11)

Tue Jan 10, 2012, 03:09 AM

21. That is FALSE.


Rahm Emanuel apologized to Tim Shriver, the head of the Special Olympics, for USING the phrase 'fucking retarded'
NOT because he called anyone that.
------------

Excerpt:

"... Rahm Emanuel allegedly used the term "fucking retarded" to describe a plan to attack conservative Democrats over health care."
http://nymag.com/daily/intel/2010/02/sarah_palin_fire_rahm_emanuel.html


Excerpt:
"... First Rahm Emanuel called a plan he didn't like 'fucking retarded.' Then Sarah Palin called for his resignation. ..."
http://gawker.com/5464949/debate-over-the-word-retard-rages-on


A DU post: http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=433x154425

-----------------

Note: When the story first broke all the article said Rahm CALLED THE PLAN that. Then later the media went wild and spun the story into him calling someone that.


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Response to Tx4obama (Reply #21)

Tue Jan 10, 2012, 08:03 PM

28. Honestly, who cares about the semantic distinction?

He shouldn't have said it at all and he's a fucking asshole for doing so. Come to think of it, Rahm is a fucking asshole in general.

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Response to gyroscope (Reply #7)

Tue Jan 10, 2012, 10:52 AM

25. Please get your crap straight. Do some homework or you'll look like a troll n/t

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Response to Enrique (Reply #4)

Tue Jan 10, 2012, 10:46 AM

23. That's why the 99% call them Bankstercrats

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Response to gyroscope (Original post)

Mon Jan 9, 2012, 06:32 PM

9. Lew is a good choice. He bet on John Paulson with Citi's money. That is like buying IBM if

 

you're an IT manager.

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Response to gyroscope (Original post)

Mon Jan 9, 2012, 06:42 PM

12. Total scum.

This man made millions defrauding people, was a direct beneficiary of the corrupt bank bailouts.

His unit, though, lost as much as billions of dollars in 2008 as its bets turned sour. In the first quarter of 2008 alone the unit lost $509 million; the company stopped publicly disclosing the unit's individual numbers soon thereafter, but the part of the company that absorbed Alternative Investments lost $20.1 billion in 2008, according to the bank's filings with the Securities and Exchange Commission.

Citigroup, the nation's third-largest bank, received $45 billion in TARP bailout funds that year. The firm also has issued $64.6 billion in taxpayer-backed debt through a crisis-era Federal Deposit Insurance Corporation program, according to its latest quarterly filing with the SEC. And it stands to gain a few billion dollars more by modifying home mortgages under the administration's foreclosure-prevention plan, Treasury Department figures show.

Lew's role at the fund is raising some eyebrows among good government groups.

"That sounds pretty nasty, doesn't it?" said Gary Bass, executive director of OMB Watch, a group that monitors the budget office. "Any activity and any player that contributed to the economic calamity needs to be looked at.


He should have faced repercussions, but the bailouts allowed him to walk away with little scrutiny.

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Response to girl gone mad (Reply #12)

Mon Jan 9, 2012, 07:44 PM

14. "allowed him to walk away with little scrutiny" PLUS $900,000 from the 2008 bailout.

 

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Response to girl gone mad (Reply #12)

Mon Jan 9, 2012, 07:49 PM

15. +1

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Response to gyroscope (Original post)

Mon Jan 9, 2012, 09:08 PM

16. Here we go again.

No excuse for this. None.

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Response to woo me with science (Reply #16)

Tue Jan 10, 2012, 12:17 AM

17. x3

 

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Response to woo me with science (Reply #16)

Tue Jan 10, 2012, 12:20 AM

18. I was hoping for someone different

Unless I'm missing something, the only positive could be that he's better equipped for the campaign.

Obama's Wall Street/bankers record is not stellar, but it still sure beats Romney's.

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Response to woo me with science (Reply #16)

Tue Jan 10, 2012, 02:52 AM

20. Don't worry. They'll be here with an excuse shortly.

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Response to gyroscope (Original post)

Tue Jan 10, 2012, 01:57 AM

19. Anyone who worked for criminal banks should be ineligible for public office

 

Instead they are the one's chosen.

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Response to gyroscope (Original post)

Tue Jan 10, 2012, 10:42 AM

22. Lew made his fortune shorting the housing market

that led to millions of people out on the street. He replaced another corporate criminal, Bill Daley. Is this the change we were promised? Obama has appointed three bankers to be his COS. Tim Geithner is still his Treasury Sec. Obama's #1 campaign contributor was Goldmann-Sachs.

It's pretty clear to me what side Obama is on. It's not the 99%.

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Response to gyroscope (Original post)

Tue Jan 10, 2012, 10:53 AM

26. And they wonder why we are upset?

Really?

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Response to gyroscope (Original post)

Tue Jan 10, 2012, 12:18 PM

27. Why are you helping Greenwald and Ron Paul kill kittens?

Sorry, that was just my way of giving this a kick deluxe.

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Response to JackRiddler (Reply #27)

Wed Jan 11, 2012, 05:06 PM

30. I'm trying to stop Obama from helping them

to kill the kittens

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Response to gyroscope (Original post)

Tue Jan 10, 2012, 08:03 PM

29. oh joy!

 

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Response to gyroscope (Original post)

Wed Jan 11, 2012, 05:30 PM

31. Chess Move® eom

n/t

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