The Obama Economic Team… Hope and Change? Yeah Right…

Jonathan Weil in an article posted at Bloomberg news, tells us that Obama’s transition economic advisory team is merely more of the same old stuff. Wait, I take that back, the economic team is actually representative of the worst that has happened in the last 8 years…

A few excerpts

So, by my tally, almost half the people on Obama’s economic advisory board have held fiduciary positions at companies that, to one degree or another, either fried their financial statements, helped send the world into an economic tailspin, or both. Do you think any of that came up in the vetting?

And whom did Obama tap for White House chief of staff? Rahm Emanuel, the Illinois congressman who was a director at Freddie Mac in 2000 and 2001 while it was committing accounting fraud.

Ideally, this job would go to someone who can’t be easily fooled. Think about it: Of all the people Obama could have chosen as his chief of staff, couldn’t he have found someone who wasn’t once on the board of Freddie Mac?

Renewed Confidence

The president-elect needs some new advisers — fast. We are in a crisis of confidence in American capitalism. These aren’t the right people to re-instill its sense of honor.

Many of them should be getting subpoenas as material witnesses right about now, not places in Obama’s inner circle. Did Obama learn nothing from the ill-fated choice of James Johnson, the former Fannie Mae boss, to lead his vice- presidential search committee?

Does he think people like Robert Rubin or Richard Parsons will offer any helpful advice on how to stop crooked bankers or sleep-walking directors from sinking our economy? Or that they won’t mistake the nation’s needs for their own corporate interests? Or that the people who helped get us into our long financial nightmare have any clue how to get us out?

Obama has created hope that our nation can stand for all that is good in the world again. It’s not too late to change course.

Start by scrapping this board.

There you have it folks, Change you can believe in… 

Posted by PUMA Pundit

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