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Showing Original Post only (View all)Bill Moyers & Michael Winship: The White House-Wall Street Revolving Door Just Keeps Spinning Along [View all]
The Washington-Wall Street Revolving Door Just Keeps Spinning Alongby Bill Moyers and Michael Winship
January 24, 2012
"Citigroup Replaces JPMorgan as White House Chief of Staff."
http://gawker.com/5874559/citigroup-replaces-jp-morgan-as-white-house-chief-of-staff
.... Jack Lew is President Obamas new chief of staff -- arguably the most powerful office in the White House that isnt shaped like an oval. He used to work for the giant banking conglomerate Citigroup. His predecessor as chief of staff is Bill Daley, who used to work at the giant banking conglomerate JPMorgan Chase, where he was maestro of the banks global lobbying and chief liaison to the White House.
Daley replaced Obamas first chief of staff, Rahm Emanuel, who once worked as a rainmaker for the investment bank now known as Wasserstein & Company, where in less than three years he was paid a reported eighteen and a half million dollars.
The new guy, Jack Lew said by those who know to be a skilled and principled public servant ran hedge funds and private equity at Citigroup, which means hes a member of the Wall Street gang, too. His last job was as head of President Obamas Office of Management and Budget, where he replaced Peter Orzag, who now works as vice chairman for global banking at hold onto your deposit slip -- Citigroup.
President Obama may call bankers fat cats and stir the rabble against them with populist rhetoric when it serves his interest, but after the fiscal fiasco, he allowed the culprits to escape virtually scot-free. When hes in New York he dines with them frequently and eagerly accepts their big contributions. Like his predecessors, his administration also has provided them with billions of taxpayer dollars low-cost money that they used for high-yielding investments to make big profits. The largest banks are bigger than they were when he took office and earned more in the first two-and-a-half years of his term than they did during the entire eight years of the Bush administration. Thats confirmed by industry data.
Read the full article at:
http://www.commondreams.org/view/2012/01/24-3
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Bill Moyers & Michael Winship: The White House-Wall Street Revolving Door Just Keeps Spinning Along [View all]
Better Believe It
Jan 2012
OP
does obama even known any progressive/liberal non-wall street type economics people? nt
msongs
Jan 2012
#1
Yes he does. But how can they be trusted to represent Wall Street fat cats?
Better Believe It
Jan 2012
#2
Do you have an opinion on the article? If you do, I'd like to read it.
Better Believe It
Jan 2012
#6
So you think that Wall Street is going to hand Obama a second term in return for what?
Better Believe It
Jan 2012
#12
It's true that on some issues Obama is far more progressive than FDR, Truman, and LBJ also.
FarLeftFist
Jan 2012
#15
The story is pertinent. How the hell is posting Bill Moyers adding to or creating a cesspool?
TheKentuckian
Jan 2012
#9
It has nothing to do with Moyers as much as it has to do with the repetitiveness of the same story.
FarLeftFist
Jan 2012
#11
I don't think anything is being debated. Generally, what we see is an all out assault on messenger
TheKentuckian
Jan 2012
#17
Well, the real bosses have to have an avenue of communication with president.
Tierra_y_Libertad
Jan 2012
#5