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ozymandius Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-23-10 05:04 AM
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9. Obama economic aide Farrell stepping down
WASHINGTON (Reuters) The White House said on Monday that Diana Farrell would step down as a deputy director of President Barack Obama's National Economic Council, marking the latest Obama administration staff departure.

Farrell, who will leave within weeks, works alongside council Director Larry Summers, who has already announced his intention to return to Harvard University at the end of 2010.


Who is Diana Farrell?

An advocate of offshoring and innovation to produce economic growth, Farrell joined President Barack Obamas administration as he fought to restore confidence in the credit markets and save financial institutions on the brink of destruction. more

Does she put lipstick on pigs?

In op-eds and other published writings, Farrell has written extensively on the subject of companies moving jobs overseas in pursuit of cheaper labor. In a book titled The Economists' Voice: Top Economists Take on Today's Problems, Farrell wrote a chapter titled U.S. Offshoring: Small Steps to make it Win-Win.

And what about "too big to fail" companies like AIG and Citigroup? Should they be broken into smaller companies that would not pose a danger to national and global financial stability?

Some argued that Congress should create measures that would prevent a company from growing too large.

But Farrell argues that the large, complex institutions, like AIG and Citigroup, have benefits as well. "We have created them, and we're sort of past that point, and I think that in some sense, the genie's out of the bottle and what we need to do is to manage them and to oversee them, as opposed to hark back to a time that we're unlikely to ever come back to or want to come back to," said Farrell.

I can't say that I will miss her and the Summers fella too.
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  -STOCK MARKET WATCH, Tuesday November 23 ozymandius  Nov-23-10 04:35 AM   #0 
  - Today's Reports  ozymandius   Nov-23-10 04:37 AM   #1 
  - They got one right? Q3 Rev is +2.5%  Roland99   Nov-23-10 07:34 AM   #45 
  - Oil falls to $81 as traders eye equities, dollar  ozymandius   Nov-23-10 04:39 AM   #2 
  - China bans hoarding of oil, coal to cool prices  ozymandius   Nov-23-10 04:49 AM   #4 
  - RBOB down to $2.11. Gas prices here in KY shot up $0.20 yesterday  Roland99   Nov-23-10 07:29 AM   #43 
     - I would not be toting that cutie to a gas station.....  AnneD   Nov-23-10 08:26 AM   #51 
     - HA!  Roland99   Nov-23-10 08:40 AM   #55 
     - I rec this baby!  Demeter   Nov-23-10 08:27 AM   #52 
     - You'll have to wait in a long line!  Roland99   Nov-23-10 08:41 AM   #56 
        - Don't bring her around my wife.  Dr.Phool   Nov-23-10 09:58 AM   #64 
        - ah, I rec this babe too!  DemReadingDU   Nov-23-10 10:04 AM   #67 
     - How adorable!  ozymandius   Nov-23-10 11:29 AM   #78 
        - Thought she might brighten things up a bit  Roland99   Nov-23-10 07:44 PM   #99 
  - First Rec! Haven't Done that in a while!  Demeter   Nov-23-10 04:47 AM   #3 
  - Good morning, Demeter.  ozymandius   Nov-23-10 04:50 AM   #5 
     - Some Commentators Seem to Think the Euro Is Toast  Demeter   Nov-23-10 04:59 AM   #7 
        - My 2  ozymandius   Nov-23-10 05:19 AM   #12 
        - Not that it matters, but I agree with you assessment Ozy. There is also something to be said  54anickel   Nov-23-10 10:17 AM   #71 
        - nah, not for awhile  DemReadingDU   Nov-23-10 10:07 AM   #68 
  - Debt: 11/19/2010 13,789,699,194,529.33 (UP 1,244,052,411.28) (Fri)  Festivito   Nov-23-10 04:59 AM   #6 
  - Sorry for all the rain, hope you dry out soon  Demeter   Nov-23-10 05:01 AM   #8 
  - It's Michigan, after ten minutes, it relented.  Festivito   Nov-23-10 02:04 PM   #84 
  - Debt: 11/22/2010 13,794,645,743,594.58 (UP 4,946,549,065.25) (Mon)  Festivito   Nov-23-10 02:11 PM   #85 
  - Obama economic aide Farrell stepping down  ozymandius   Nov-23-10 05:04 AM   #9 
  - Disgusting  Demeter   Nov-23-10 05:06 AM   #10 
  - Just a guess here,  hamerfan   Nov-23-10 05:23 AM   #14 
  - Looks Like Harvard, and a Goldman Alumna, To Boot  Demeter   Nov-23-10 05:29 AM   #17 
  - Not quite. But she does have one essential credit on her CV for the White House gig.  ozymandius   Nov-23-10 05:30 AM   #18 
  - Never thought I'd see the day when I pity the Monster of Jekyll Island, even if its just a wee-bit.  54anickel   Nov-23-10 08:57 AM   #60 
  - Buh-bye. n/t  Hugin   Nov-23-10 09:26 AM   #62 
  - Looks Like Bernanke Has Palin and Tea Party to Blame for His Failings  Demeter   Nov-23-10 05:18 AM   #11 
  - OMG - Tea partiers are looking to make Greenspanism/AynRandism the law of the land?  54anickel   Nov-23-10 09:57 AM   #63 
  - Mortgage File Missteps Extend Past Securitization, Cantor Fitzgerald Says  Demeter   Nov-23-10 05:21 AM   #13 
  - U.S. Banks Will Close 5,000 Branches, Whitney Says  Demeter   Nov-23-10 05:24 AM   #15 
  - When Meredith Whitney Speaks, People Listen.  ozymandius   Nov-23-10 05:40 AM   #21 
  - Duh! Who the hell needs a bank when they're unemployed, homeless and f'ing broke!  54anickel   Nov-23-10 10:03 AM   #66 
  - Countrywide's Mortgage Document Errors May Doom Bank of America  Demeter   Nov-23-10 05:26 AM   #16 
  - Lawsuits Galore  ozymandius   Nov-23-10 05:46 AM   #24 
  - A European Lynch Mob Is Coming For Bank of America  Demeter   Nov-23-10 06:03 AM   #29 
  - You may need to explain the concept of 'pity' to the BoA board.  ozymandius   Nov-23-10 06:40 AM   #37 
     - That Is Beyond My portfolio  Demeter   Nov-23-10 06:44 AM   #38 
  - Pimco, NY Fed Said to Seek BofA Repurchase of Mortgages  Demeter   Nov-23-10 06:21 AM   #33 
  - stay away from PIMCO  CountAllVotes   Nov-23-10 10:31 AM   #74 
  - Can I get some additional explanation? I'm confused.  Tansy_Gold   Nov-23-10 08:06 AM   #49 
     - paperwork "difficulties."  DemReadingDU   Nov-23-10 10:15 AM   #70 
     - Legal challenges to foreclosure middleman are mounting  54anickel   Nov-23-10 01:56 PM   #83 
     - I'm afraid you already know the answer, the taxpayer will pay, the crooks will walk  StarburstClock   Nov-23-10 03:07 PM   #87 
        - Well maybe yes, and maybe no.  Tansy_Gold   Nov-23-10 04:44 PM   #95 
  - Barclays Transfers From Lehman May Have Broken Law, SEC Says  Demeter   Nov-23-10 05:32 AM   #19 
  - I saw a list of all the banks that own the Federal Reserve.  Dr.Phool   Nov-23-10 05:42 AM   #23 
     - Okay, You Just Put Me Off Any Idea of Breakfast  Demeter   Nov-23-10 05:59 AM   #28 
     - I could really do with a link on that. Not because I don't believe you, most stuff on who owns the  AlabamaLibrul   Nov-23-10 06:20 AM   #32 
     - read and weep  Po_d Mainiac   Nov-23-10 07:07 AM   #40 
        - Thank You!  hamerfan   Nov-23-10 07:41 AM   #46 
     - Noted for future investigation.  Ghost Dog   Nov-23-10 07:23 AM   #41 
  - Top Banks Face $100 Billion Basel Shortfall  Demeter   Nov-23-10 05:39 AM   #20 
  - SEC Proposes Requiring Hedge Funds, LBO Firms to Register With U.S. Agency  Demeter   Nov-23-10 05:41 AM   #22 
  - North Korea attacked South Korea, with artillery.  tclambert   Nov-23-10 05:48 AM   #25 
  - Doesn't help that Seoul is within range from North Korean  Po_d Mainiac   Nov-23-10 06:35 AM   #36 
  - Kim Jong-il and Kim Jong-un tour soy sauce factory and medical school in Pyonyang  Ghost Dog   Nov-23-10 07:55 AM   #47 
  - Five US Dealers Account For 37% Of OTC Derivatives Market  Demeter   Nov-23-10 05:51 AM   #26 
  - Too big to fail banks to be determined in mid-2011  Demeter   Nov-23-10 05:58 AM   #27 
  - Fannie Mae, Freddie Mac bailout cost is likely to rise to $154 billion, agency projects  Demeter   Nov-23-10 06:14 AM   #30 
  - The worst part of this ongoing financial crisis was and is the derivative,  jtuck004   Nov-23-10 08:53 AM   #59 
     - The REAL Problem Is: They Are ALL Crooks  Demeter   Nov-23-10 10:44 AM   #75 
        - I know exactly where to start, at the top with war criminals  StarburstClock   Nov-23-10 03:15 PM   #88 
           - Or wipe up all the little fish  Demeter   Nov-23-10 07:40 PM   #98 
  - New York Fed Faces `Inherent Conflict' in Mortgage Buybacks  Demeter   Nov-23-10 06:18 AM   #31 
  - Geithner! In my office, NOW!  ozymandius   Nov-23-10 07:33 AM   #44 
     - Blood Pressure, Ozy!  Demeter   Nov-23-10 08:26 AM   #50 
     - Our theme today......  AnneD   Nov-23-10 10:02 AM   #65 
  - Goldman Eyes Its Buffett Tab  Demeter   Nov-23-10 06:24 AM   #34 
  - Morning Marketeers...  AnneD   Nov-23-10 06:28 AM   #35 
  - Max may seem to many to be "out there," as does this guest, however  Karenina   Nov-23-10 08:02 AM   #48 
  - Silver and Old  kickysnana   Nov-23-10 09:01 AM   #61 
  - recommend -- oy this is an amazing read today. nt  xchrom   Nov-23-10 06:53 AM   #39 
  - We Live in Amazing Times  Demeter   Nov-23-10 08:36 AM   #54 
     - really amazing times  DemReadingDU   Nov-23-10 10:22 AM   #72 
  - Index futures - mighty shaken  Roland99   Nov-23-10 07:25 AM   #42 
  - Dow down 103 at the open.  Dr.Phool   Nov-23-10 08:33 AM   #53 
  - Down volume is 18:1  Roland99   Nov-23-10 08:42 AM   #57 
  - Here we go again!  Demeter   Nov-23-10 08:42 AM   #58 
     - We will have a....  AnneD   Nov-23-10 10:07 AM   #69 
        - It's looking bleaker  DemReadingDU   Nov-23-10 10:29 AM   #73 
           - 9/11 changed everything...that's so priceless!  54anickel   Nov-23-10 11:32 AM   #79 
              - Egads, did I type that? Irrational fears, not unrational! God, talk about a Palinism!  54anickel   Nov-23-10 04:00 PM   #91 
  - Come on 11K!  Demeter   Nov-23-10 10:51 AM   #76 
  - IMF Urges Ireland to Suffer to Appease Banksters  ozymandius   Nov-23-10 11:22 AM   #77 
  - Ozy, did you catch this post over in GD:Presidency? Interesting take by Matt Taibbi  54anickel   Nov-23-10 11:43 AM   #80 
  - It Doesn't Have to Be That Way  Demeter   Nov-23-10 11:45 AM   #81 
  - Many of whom know what? Our leaders? They seem to all end up like the sailors, lured  54anickel   Nov-23-10 12:23 PM   #82 
     - One particular post from that thread resonates with me.  TheWatcher   Nov-23-10 02:24 PM   #86 
        - I see that thread has encountered some "explosive" growth since I linked to it. I'm simply amazed  54anickel   Nov-23-10 03:53 PM   #90 
           - We've become Thumb Sucking, Go-Along, Cowed, Submissive Safety Whores.  TheWatcher   Nov-23-10 04:38 PM   #93 
           - I had to stick my $0.34 in.  Dr.Phool   Nov-23-10 04:54 PM   #96 
  - Taibbi is a human lightning rod.  ozymandius   Nov-23-10 04:41 PM   #94 
     - Lightening rod??? Ya think? I had no idea how controversial he was  54anickel   Nov-23-10 06:27 PM   #97 
        - Yikes! That thread sizzled some pixels on my monitor.  ozymandius   Nov-23-10 09:00 PM   #101 
           - Bwahahaha - Jonestown. Now that is priceless!!! And yes, it appears as though it is  54anickel   Nov-23-10 10:15 PM   #102 
              - Love to see you here....  AnneD   Nov-24-10 03:58 AM   #103 
  - How have airline stocks done since the new TSA grope the passengers policy went into effect?  tclambert   Nov-23-10 03:46 PM   #89 
  - Thar she blows?  RUMMYisFROSTED   Nov-23-10 04:36 PM   #92 
     - Where's the Bloodbath?  Demeter   Nov-23-10 07:58 PM   #100 

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