Skip to content


Wall Street reinforcements for Obama White House

by Patrick Martin

President Obama concluded his Hawaii vacation Tuesday and flew back to Washington, amid press reports that he would soon announce the addition of several prominent figures drawn from the financial industry to his White House staff.

The media speculation focused on William Daley, brother of the retiring mayor of Chicago, former Clinton administration commerce secretary, and currently a vice chairman at JP Morgan Chase, one of the top five US banks. Bloomberg News and the New York Times both reported that Daley was under consideration for White House chief of staff, as the permanent replacement for Rahm Emanuel, who resigned in September to run for mayor of Chicago.

The chief of staff position has been filled on an interim basis by Pete Rouse, a long-time Senate aide who joined the White House when Obama took office. Rouse is heading an effort to reorganize the White House staff, including selecting a permanent replacement for Emanuel, and could himself be chosen for that post.

The selection of Daley, which press reports described as not imminent, would be the clearest signal yet of the Obama administrations shift to the right in the wake of the Republican victory in the 2010 congressional elections.

Daley was one of the most right-wing figures in the Clinton administration, at least on domestic and economic issues. He spearheaded the drive to pass the North American Free Trade Agreement, much favored by big business, and went on to a top-level career as a corporate executive, first at SBC Communications, then at JPMorgan Chase. He has served on numerous corporate boards, including at Boeing and Abbott Laboratories.

In the internal politics of the Democratic Party, Daley stood on the right, opposing any serious effort to fight the theft of the 2000 presidential election, when he was Gores campaign chairman. In an interview last year with the New York Times, he criticized congressional Democrats and the White House, saying they had overreached and attempted policies that were too liberal. The election of 08 sent a message that after 30 years of center-right governing, we had moved to center left, he said, not left.

Whomever Obama selects to implement it, the direction of his policy shift is not in doubt. In remarks to reporters as he ended his vacation, he urged Republican congressional leaders to work with the White House, and expressed the hope that John Boehner and Mitch McConnell will realize that there will be plenty of time to campaign for 2012 in 2012.

Referring to the series of agreements that followed his capitulation to the Republicans over extending the Bush tax cuts for the wealthy, Obama added, We started making good progress on that in the lame-duck, and I expect to build on that progress when I get back.

While Democratic and Republican politicians and the corporate-controlled media have portrayed the 2010 election as a mandate for the policies advanced by the far right, a poll released Monday by Vanity Fair magazine and the CBS news program 60 Minutes found that the vast majority of Americans opposed extending tax cuts for the wealthy and making spending cuts in social programs to pay for them.

Given the choice of different options for reducing the federal deficit, 61 percent called for increasing taxes on the rich as the first step, while another 20 percent chose cutting military spending―the second-most-popular choice. Only 4 percent favored cuts in Medicare and 3 percent cuts in Social Security, the reforms that are being demanded by a unanimous chorus in the Washington political establishment.

Obama will soon fill one other top position, chairman of the National Economic Council (NEC). Former Clinton administration Treasury Secretary Lawrence Summers left the job December 31, four months after announcing his intention to do so. Obama has apparently not been able to find a suitable replacement from corporate America, despite a considerable effort to woo business support.

Press reports suggest that the White House will select Gene Sperling, who formerly chaired the NEC in the Clinton administration and is currently an adviser to Timothy Geithner, the treasury secretary. Sperling was identified with conservative, pro-business fiscal policies in the 1990s and played a significant role in devising the tax-cut agreement with the Republicans last month.

Another possibility is Roger Altman, former deputy treasury secretary in the Clinton administration and an investment banker who runs Evercore Partners in New York.

Sperling has not been nominated for any position in the Obama administration requiring Senate confirmation because of possible questioning of his work at Goldman Sachs, one of the top recipients of the Wall Street bailout, where he raked in $887,727 for what was described as part-time services in 2008.

The Wall Street Journal reported Monday that Obama would probably name Ron Bloom, co-chair of the auto industry bailout task force, to a new White House post on manufacturing policy. This was presented as a sop to the trade unions, to offset any opposition to the nomination of Sperling or Altman to the higher-ranking post, since Bloom was an investment adviser to the United Steelworkers union. In collaboration with the unions, Bloom played an instrumental role in implementing the Obama administrations demand that auto workers accept devastating job and wage cuts to boost the profitability of the auto companies.

Other shifts in White House staff include the departure of Ron Klain, chief of staff to Vice President Joe Biden, one of a handful of more liberal aides. He will become president of Case Holdings, the parent company of the investment firm named for Steve Case, the former America On Line chief executive. A former chief of staff to Vice President Al Gore, Klain also worked for Case during the Bush administration.

The long-announced departure of David Axelrod, the top White House political adviser, is also scheduled. He is leaving to begin work on Obamas 2012 reelection campaign, and will be replaced by David Plouffe, Obamas campaign manager in 2008.

The personnel shifts between the White House and high finance have a definite sociological significance. Even the more liberal aides move easily from top government posts to lucrative positions in the financial industry. This poses no difficulty because the policies of the Obama administration are so organically aligned with the well-being of Wall Street.

The musical chairs aspect of the personnel switches―Daley is being considered to replace Emanuel, who is running to replace Daleys brother as mayor of Chicago; Plouffe and Axelrod change places as chief inside and outside political aide―also underscores the narrow, politically inbred and isolated character of the Obama administration.

View the original article at Global Research

Related Posts with Thumbnails

Posted in Analysis & Review, New World Order.

Tagged with , , , , , , , .

Support #altnews & keep Dark Politricks alive

Remember I told you over 5 years ago that they would be trying to shut down sites and YouTube channels that are not promoting the "Official" view. Well it's happening big time. Peoples Channels get no money from YouTube any more and Google is being fishy with their AdSense giving money for some clicks but not others. The time is here, it's not "Obama's Internet Cut Off Switch" it's "Trumps Sell Everyones Internet Dirty Laundry Garage Sale".

It's not just Google/YouTube defunding altenative chanels (mine was shut), but Facebook is also removing content, shutting pages, profiles and groups and removing funds from #altnews that way as well. I was recently kicked off FB and had a page "unpublished" with no reason given. If you don't know already all Facebooks Private Messages and Secret Groups are still analysed and checked for words related to drugs, sex, war etc against their own TOS. Personally IU know there are undercover Irish police moving from group to group cloning peoples accounts and getting people booted. Worse than that I know people in court at the moment for the content they had on their secret private group. Use Telegrams secret chat mode to chat on, or if you prefer Wickr. Or if you need to, buy a dumb phone with nothing for the NSA to hack into if you are that paranoid. Ensure it has no GPS tracking on it and the battery can be removed. These are usually built for old people to get used to technology storing only a set of numbers to call. However they have no games, applications to install and other ways people can exploit the computer tracking device you carry round with you most of the day.

So if your not supporting this site already which brings you news from the Left to the Right (really the same war mongering bollox) then I could REALLY do with some..

Even if it's just £5 or tick the monthly subscription box and throw a few pound my way each month, it will be much appreciated. Read on to find out why.

Why?

Any support to keep this site would be appreciated. You could set up a monthly subscription for £2 like some people do or you could pay a one off donation as a gift.
I am not asking you to pay me for other people's articles, this is a clearing house as well as place to put my own views out into the world. I am asking for help to write more articles like my recent false flag gas attack to get WWIII started in Syria, and Trump away from Putin. Hopefully a few missiles won't mean a WikiLeaks release of that infamous video Trump apparently made in a Russian bedroom with Prostitutes. Also please note that this article was written just an hour after the papers came out, and I always come back and update them.

If you want to read JUST my own articles then use the top menu I have written hundreds of articles for this site and I host numerous amounts of material that has seen me the victim of hacks, DOS plus I have been kicked off multiple hosting companies, free blogging sites, and I have even had threats to cease and desist from the US armed forces. Therefore I have to pay for my own server which is NOT cheap. The more people who read these article on this site the more it costs me so some support would be much appreciated.

I have backups of removed reports shown, then taken down after pressure, that show collusion between nations and the media. I have the full redacted 28/29 pages from the 9.11 commission on the site which seems to have been forgotten about as we help Saudi Arabia bomb Yemeni kids hiding in the rubble with white phosphorus, an illegal weaapon. One that the Israeli's even used when they bombed the UN compound in Gaza during Operation Cast Lead. We complain about Syrian troops (US Controlled ISIS) using chemical weapons to kill "beautiful babies". I suppose all those babies we kill in Iraq, Yemen, Somalia and Syria are just not beautiful enough for Trumps beautiful baby ratio. Plus we kill about 100 times as many as ISIS or the Syrian army have managed by a factor of about 1000 to 1.

I also have a backup of the FOX News series that looked into Israeli connections to 9.11. Obviously FOX removed that as soon as AIPAC, ADL and the rest of the Hasbra brigade protested.

I also have a copy of the the original Liberal Democrats Freedom Bill which was quickly and quietly removed from their site once they enacted and replaced with some watered down rubbish instead once they got into power. No change to police tactics, protesting or our unfair extradition treaty with the USA but we did get a stop to being clamped on private land instead of the mny great ideas in the original.

So ANY support to keep this site running would be much appreciated! I don't have much money after leaving my job and it is a choice between shutting the server or selling the domain or paying a lot of money just so I can show this material.

Material like the FSB Bombings that put Putin in power or the Google no 1 spot when you search for protecting yourself from UK Police with "how to give a no comment interview". If you see any adverts that interest you then please visit them as it helps me without you even needing to give me any money. A few clicks per visit is all it takes to help keep the servers running and tag any tweets with alternative news from the mainstream with the #altnews hashtag I created to keep it alive!

However if you don't want to use the very obvious and cost free ways (to you) to help the site and keep me writing for it then please consider making a small donation. Especially if you have a few quid sitting in your PayPal account doing nothing useful. Why not do a monthly subscription for less money instead. Will you really notice £5 a month?


0 Responses

Stay in touch with the conversation, subscribe to the RSS feed for comments on this post.



Some HTML is OK

or, reply to this post via trackback.



css.php