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Response to Demeter (Original post)

Sat Sep 14, 2013, 08:20 AM

3. Obama Appoints Bain & Co Consultant to Top Post

http://www.commondreams.org/headline/2013/09/13-4


Jeff Zients (Photo: AP/Charles Dharapak)

President Obama has appointed Jeff Zients as head of the National Economic Council. A former executive of Gov. Mitt Romney’s Bain & Company investment firm—Zients worked at Bain & Co. from 1988 to 1990. Romney was running Bain Capital at the time, so the two did not work directly together.

Romney worked at Bain & Company, first from 1977-1984, and then again from 1991 and 1992, when he was the Bain & Company chief executive officer.

Bain Capital was heavily criticized by the 2012 Obama campaign as an 'outsourcing pioneer' responsible for closing plants, devastating U.S. communities, and even contributing to the deaths of disenfranchised workers.

Zients work at Bain was one of many lucrative positions at corporate management and media firms that allowed him to build a multimillion dollar fortune. He has worked as a close aid to Obama since 2009, serving twice as the president's acting budget director, among other positions. He will now ascend to head of the National Economic Council, replacing Gene Sperling, who says he is departing for personal reasons.

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