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Obama Adds Citigroup's Dick Parsons To Jeff Immelt's Jobs Panel

Tyler Durden's picture


And there was a time when people thought Obama was out to get the bankers...

From Citi:

Richard Parsons, chairman of the board of directors of Citigroup, has been named
to President Barack Obama's advisory panel on jobs and the economy. The
President's Council on Jobs and Competitiveness, to be chaired by
General Electric CEO Jeffrey Immelt, will focus on ways to promote
growth and hiring in American businesses.

We expect someone to tell us that between the two, their respective companies have seen headcuts well into the tens of thousands. As a reminder, under Immelt alone, GE's track record of employment of US workers has been an utter and complete disaster.

[Immelt] runs a big company, but Immelt has shown more skill at cutting jobs, frankly, than creating. GE
finished 2009 with 18,000 fewer US workers than it had at the end of
2008, and US headcount is down 31,000 since Immelt's first full year in
2002. During his tenure, GE workers based in the US as a percentage of
total employees has fallen to 44% from 52%.

Perhaps if the members of the Immelt panel had more time to focus on fixing their companies so they did not rely 100% on the generosity of the US taxpayer, this country would actually generate some (non part-time) jobs...


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Mon, 02/28/2011 - 15:56 | 1004643 apeakunderthehood
apeakunderthehood's picture

Is Bernanke The Gangsta Rapper of the Financial World?

Hope you enjoy the post

Mon, 02/28/2011 - 15:57 | 1004644 TruthInSunshine
TruthInSunshine's picture

Mr. Hope & Change, Barack Obama, aka 'Wall Street's Favorite Bitch.'

Who's your daddy when you want to raise a billion dollars for your 2012 election run, huh?

Who's your daddy, Hope&Change?


*Subjects of the Wall Street Royalty, please know that after Obama is finished serving his term, you'll be lucky to have any change left in your sofa cushions.

Mon, 02/28/2011 - 16:03 | 1004670 Herd Redirectio...
Herd Redirection Committee's picture

Did anyone see Austin Gooslbee on Jon Stewart?  Oh my... Pure rhetoric combined with buzz words: innovate and build.  How about this, Austin, how about we reverse the de-industrialization of North America that we have been witnessing for the last 30 years?

How about we close some factories in China and start manufacturing the goods we need right here in North America again!

TiS, you have got it spot on, Wall St thinks they are royalty, and it is high time to end the  Fed.  Check out the latest from the Capital Research Institute "The Elephant in the Room":

"We have all heard the expression at one time or another. An uncomfortable fact that every one is (at least dimly) aware of, yet is not spoken of. When discussing the global economy, the turmoil and the unrest the world is experiencing the elephant in the room is undoubtedly the Federal Reserve. The Fed (and other central banks) have unleashed the most recent spate of food inflation on the world through their ZIRP (zero interest rate policy) and use of ‘quantitative easing’ (which simply put, is money printing).

Money that would have been kept in savings accounts has been withdrawn (because it earns no interest) and invested largely in stocks, and commodities. On top of that, more money has been conjured into existence, without an increase in real economic activity to accompany it, leaving a larger amount of money chasing the same pile of goods and services. The result, obviously, is a loss of purchasing power, as each newly conjured dollar buys less than the one before it.

Ben Bernanke has come out and attempted to justify his actions, but what has been lost in all his posturing? That the criticism of his policies are legitimate!"

Mon, 02/28/2011 - 16:27 | 1004759 Michael
Michael's picture

 Lots of people ask what they can do to help solve the problem.  This is just a suggestion;

The most powerful social networking web site never mentioned in the main stream media is Meetup.

During the Ron Paul 2008 campaign, there were Meetup groups promoting his campaign all over the world.

If you are interested in starting a Meetup group in your neighborhood to organize on the ground action against the Fed, go for it.

You could call it; Audit Fort Knox-End the Fed.

Here is a screen shot of the Ron Paul Meetup groups all over the world.

Fuck "Show me the money",

Show Me the Gold!

Mon, 02/28/2011 - 17:54 | 1005060 lynnybee
lynnybee's picture

Amen, Michael ........ the gold in FT. KNOX was gone a long time ago.   This country has been systematically looted & gutted & when the time is right to "pull it" , the people at the top are long gone & the average (uneducated) citizen's head will be spinning & asking,  "duh ....... what happened ! "



Mon, 02/28/2011 - 18:52 | 1005258 Michael
Michael's picture

Perhaps gone, but we are not 100% certain of that.

I want to see pictures and videos of the inside of Fort Knox as it looks today. Even if it is empty.

Tue, 03/01/2011 - 10:18 | 1005855 rocker
rocker's picture

O'Bambi said we want our money back. Show me the money. Show me the Jail sentencings and I will then believe.

Has to be the Bambi's biggest disappointment to date.  Lloyd Blankfein is still on the outside laughing with Paulson.

Great Stuff Michael  

Mon, 02/28/2011 - 16:17 | 1004727 JenkinsLane
JenkinsLane's picture


Mon, 02/28/2011 - 16:31 | 1004781 Michael
Michael's picture

Is Ross Perot still alive? He might be a better choice.

Mon, 02/28/2011 - 18:27 | 1005193 bankonzhongguo
bankonzhongguo's picture

I used to read the papers everyday to miserly watch and worry about what these wicked people (Are they people or Beasts?) were capable of and how to stop them.

I don't read anymore.  A la Timothy Leary, I have 'dropped out.'

These 'things" that populate our conscious do nothing but hurt others.

If I picked up a "prestigious" newspaper tomorrow and it had a full page photo and story of Obama sodomizing a child, I have to say that I have already been emotionally and morally tortured enough to no longer be phased by such evil acts.

What other lying injustices could these creep-fuck money worshipers do to this Republic?

If you exist in a prison and your whole day is spent waiting to be raped, there comes a time when without a fight you simply bend over without a struggle to get over with it.

America is there.



Mon, 02/28/2011 - 15:56 | 1004651 truont
truont's picture

Fascism is "the bureaucratisation of the economic activities of the nation".

--Benito Mussolini

Mon, 02/28/2011 - 19:27 | 1005362 t0mmyBerg
t0mmyBerg's picture

truont, it is good to see someone who gets to the nub of the thing.  This presidential council on jobs and competitiveness is just a political veneer to make Obama appear like he is not antibusiness.  The problem is it is not the giants represented here that are the problem.  The government has proven only too happy to shuttle taxpayer cash by the server-full to these companies.  GE is the worst.  I cant stand watching their idiotic commercials about how awesome the green america is going to be when it is taxpayer dollars paying for these boondoggles AND paying for the god damned ads to tell us about them.  And Parsons joins Steve Case on the Council.  Parsons negotiated the single biggest abortion in dealmaking history on behalf of Time Warner, a company he helped to neuter, so I am sure they will get along famously.

Truth is this whole thing is indicative of the crony BS that passes for a good idea in Washington.  As business is putatively the real religion of America, I would propose that what we need is a constitutional amendment mandating the separation of business and state, patterned on the first amendment.  The sad thing is that this does nothing to address the real problem which is that small businesses are getting crushed.  It isnt the big businesses that need help, it is the small ones and the nascent ones that are not going to be born because of the smothering political-legal landscape which just keeps getting worse and worse.  The administration is tone deaf and its philosophy is bankrupt.  This goes for pretty much anyone in congress also.  We are screwed until nonsense like this is recognized as symptomatic of the problem rather than embraced as part of the solution.

Mon, 02/28/2011 - 15:58 | 1004655 buzzsaw99
buzzsaw99's picture

they are choosing the dudes with the biggest, ahem, bailouts, for the orgy.

Mon, 02/28/2011 - 17:03 | 1004877 Translational Lift
Translational Lift's picture

No orgy just another useless meaningless circle-jerk in blue the Finance Commitee.

Mon, 02/28/2011 - 15:59 | 1004659 Freebird
Freebird's picture

There`s always a consulting job at GS or JPM after office to consider... hope changed

Mon, 02/28/2011 - 16:01 | 1004665 Michael
Michael's picture

Obama is doing opposite game plan of the kings of the middle east who are about to fall. I think he does this for spite. Is he not aware how the people feel about these banksters?

Mon, 02/28/2011 - 21:39 | 1005649 newworldorder
newworldorder's picture

He does not give a s--- about what you or I think as long as we pull the lever for him and his, every 2 years.

Mon, 02/28/2011 - 16:02 | 1004666 Snidley Whipsnae
Snidley Whipsnae's picture

"Richard Parsons, chairman of the board of directors of Citigroup, has been named to President Barack Obama's advisory panel on jobs and the economy"

Nowhere does it say that Parsons is tasked with creating jobs or attempting to create jobs.

Perhaps Parson's job description includes a mandate to have all working age Americans work for some gov organization?... While the Fed's new mandate might include printing enough dough to employ the work force.

Mon, 02/28/2011 - 16:42 | 1004812 jus_lite_reading
jus_lite_reading's picture

I love ZH and everything that TD represents but I am a bit surprised when anyone here thinks that anything will change, that justice will prevail. After 30+ years on the very street that has become ground zero to corruption, crime, fraud, deception etc etc etc, I can honestly say 1) nothing will change without force/action by the people 2) they laugh in your face right now as they read "fringe blogs" such as ZH and 3) I have never seen anything like this sort of level of fraud even going back to S&L crisis or Watergate!

The criminals have won. Can we all admit that for now?

Mon, 02/28/2011 - 21:04 | 1005562 Bananamerican
Bananamerican's picture

who junked this?

Mon, 02/28/2011 - 22:10 | 1005705 tom a taxpayer
tom a taxpayer's picture

Yes, jus_lite_reading, the criminals have won for now. And yes the chance for balls-to-the-wall prosecutions is slim.

But It takes only one prosecutor to investigate just one crime, and follow the money and the connected crimes, and bring down the overlapping criminal enterprises using Racketeer Influenced and Corrupt Organizations Act (RICO) prosecutions. If one prosecutor will take off the kid gloves, and hit these criminals with the iron fist of justice, the public will rally to support the prosecutor. 

Yes, it is a David against Goliath fight for the prosecutor. But if one prosecutor will lead, the public will support the prosecutor. It takes only one prosecutor...any one of the 50 state AGs, any federal prosecutor, any prosecutor with the guts to stand up to the system. 

We need coast-to-coast arrests, from Countrywide to ratings agencies to Goldman Sachs and every one in between. We need Shock and Awe RICO prosecutions and mass trials in style of the Maxiprocesso (Maxi Trial) of the Mafia in Sicily during the mid-1980s that resulted in hundreds of defendants convicted.

This is a target rich environment, and the criminal activities (fraud, Ponzi schemes, extortion, looting of treasury, cover-ups, etc.) are continuing today. So the investigation and prosecution can begin anywhere and follow the trail: Countrywide, the mortgage industry and the appraisers or Freddie and Fannie or Citi and the big banksters or with Goldman Sachs and other Wall Street banks or the rating agencies or AIG or with the federal co-conspirators at U.S. Treasury, SEC, OTS, and the Federal Reserve, especially FRBNY, and any members of Congress who aided and abetted.

We need RICO confiscations of the hundreds of billions in illegal "profits" from the criminal enterprises of the banks, mortgage industry, and Wall Street Mafia. We need prosecutions, RICO convictions, RICO confiscations of mega-billions of dollars of ill-gotten gains, repayment of taxpayers, and 20 years-to-life hard time prison sentences. 

And the prosecutor who leads the charge will become a national hero.

Mon, 02/28/2011 - 16:05 | 1004676 docj
docj's picture


Well, not at all actually.

Mon, 02/28/2011 - 16:08 | 1004677 Oh regional Indian
Oh regional Indian's picture

Obama is out to get the banksters... of course he is. He is out to get them in... to his administration. Giving them all a taste of working with Big Gov before they will get appointed to the 10 Financial the 10 FEMA districts, under the regional feds...

like that, I think.


Mon, 02/28/2011 - 16:14 | 1004712 Commander Cody
Commander Cody's picture

Keep your enemies close?  Meanwhile, there was much rejoicing in Chindia as Parsons was added by the POTUS to the US "jobs" panel.

Mon, 02/28/2011 - 16:18 | 1004732 Oh regional Indian
Oh regional Indian's picture

CC, th eline between friend and enemy is extremely blurred in their world. it's just revolving doors.

And Parsons outsourciing hawk or the Pandit Connection? Why will Chindia celebrate?


Mon, 02/28/2011 - 16:22 | 1004743 Duuude
Duuude's picture

Comedy is unusual people in real situations; farce is real people in unusual situations.
Chuck Jones

Mon, 02/28/2011 - 16:08 | 1004681 Gimp
Gimp's picture

No more democracy or republic, it is now a "corpocracy".....

Hope and Change indeed, elites always believe the masses are idiots..


Mon, 02/28/2011 - 16:07 | 1004682 Traianus Augustus
Traianus Augustus's picture

One of the biggest crooks on Wall Street hands down!!!!

Mon, 02/28/2011 - 16:13 | 1004684 citizens divided
citizens divided's picture

 -golden-handcuffs- snapping shut all over the WE's former government ensuring Stevie Wonder Bankster government--"signed, sealed, delivered, I'm yours" and Sam and Dave blues for real jobs- "hold on, I'm comin"

Mon, 02/28/2011 - 21:07 | 1005572 Bananamerican
Bananamerican's picture

Cornel West, is that you?

Mon, 02/28/2011 - 16:08 | 1004686 surfwon
surfwon's picture

great another DICK on the payroll

Mon, 02/28/2011 - 16:10 | 1004691 Snidley Whipsnae
Snidley Whipsnae's picture

Off topic... yet another after the close raid in progress in PMs...

Way beyond blatant... Time is past for Benny Boy to let the PMs tell the real story of the ever decreasing value of fiat bs...

Mon, 02/28/2011 - 16:10 | 1004692 buzzsaw99
buzzsaw99's picture

The market is up, I don't see the problem.

Mon, 02/28/2011 - 16:10 | 1004693 Shameful
Shameful's picture

Job are overrated right?  After all JPM gets good money from the food stamps gig.  So why not expand that out to say 280 million on food stamps?  Bonuses for JPM, and I'm sure Bennie and the Ink Jets can provide that kind of liquidity.

Mon, 02/28/2011 - 16:11 | 1004695 Ayn Rand
Ayn Rand's picture

Obama is trolling for campaign contributions by throwing bones to the crony capitalists.

Mon, 02/28/2011 - 16:10 | 1004696 shushup
shushup's picture

There was also a time when people thought obama was smart and the country's savior.

Mon, 02/28/2011 - 16:31 | 1004775 PeterSchump
PeterSchump's picture

He still is! I have free healthcare now!  He is saving the planet by sticking it to the evil corporations, especially the polluting oil companies! He ended the wars!


Even our children are singing his praises!

He is the One!


You simpletons just do not see the good he has given us!

Mon, 02/28/2011 - 16:11 | 1004699 AldoHux_IV
AldoHux_IV's picture

Obama is such a puppet for the imbalances within this country it's a joke.  The biggest fraud of his administration is how he promised change.

Mon, 02/28/2011 - 16:17 | 1004726 Cruel Aid
Cruel Aid's picture

That is not fraud, he is fulfilling his contract 100%. Half of the country is ok with this?


Mon, 02/28/2011 - 16:23 | 1004749 Johnny Lawrence
Johnny Lawrence's picture

Yet, Obama continues to publicly speak about how the income gap in this country is unfair.

Mon, 02/28/2011 - 16:12 | 1004701 I am a Man I am...
I am a Man I am Forty's picture

Ole Dick Parsons, from Time Warner to Citigroup, what a small world at the top, a stooge for the Rockefellers

Mon, 02/28/2011 - 16:39 | 1004803 AccreditedEYE
AccreditedEYE's picture

He isn't even any good at adding value... Both TWX & C suffered tremendously under his watch. Good thing he's "helping" the country now... :/  

Mon, 02/28/2011 - 16:12 | 1004705 ChanceIs
ChanceIs's picture


What was the slogan????

"Change you can believe in?"

Pissant.  There is an optimum for everything, including how much you can steal from the populace through what Bill Black characterized as "control fraud."  Why overdo it?  They were making a nice little living.  Too many parasites always kills the host.  You would think that they would know that.  You would think that optimum looting would have been the level set in 2004 or thereabouts when the mortgage fraud was just getting going.  One wonders if the thing is salvageable and they are bringing in the "big guns" to discuss a controlled implosion.  Or how and where to move the Ft Knox gold.  Apparently Switzerland is not viable.  At least not for the Lybians, Egyptians and Sudanese.  It is probably triply unviable for the Swiss since we let the IRS get so far into their knickers and ruin what had been a peaceful 500 years of totally private banking.

Mon, 02/28/2011 - 16:20 | 1004718 Shameful
Shameful's picture

This is not a single parasite.  There are many parasites and they all want to maximize their looting performance.  Now looking at game theory they all have the maximum incentive to loot as much and as fast as possible because the Nash equilibrium says their fellow looters will be doing the same. everyone will loot at max speed.  After all if Looter A doesn't steal Item X then Looter B will, so Looter A has no incentive to not steal Item X.

After all the longer the looting goes on the greater the incentive to loot more brazenly as less is left to loot, meaning the time is short.  Also in an atmosphere of raw looting and no chance of getting prosecuted it's the perfect environment to let slip the hounds of theft.  After all it's not like any of the looters will be tired for their crimes, as everyone is currently engaged in looting and they all nominally have dirt on each other.

Mon, 02/28/2011 - 16:27 | 1004766 Duuude
Duuude's picture

Aaaand...they breed.

Mon, 02/28/2011 - 16:21 | 1004737 Snidley Whipsnae
Snidley Whipsnae's picture

"Too many parasites always kills the host."

Tragedy of the commons ... All of us with no dog in the hunt (or sheep grazing on the commons) are screwed. All those with sheep grazing on the commons are also screwed... but their screwing will take a bit longer.

'The tragedy of the commons is a dilemma arising from the situation in which multiple individuals, acting independently and rationally consulting their own self-interest, will ultimately deplete a shared limited resource even when it is clear that it is not in anyone's long-term interest for this to happen. This dilemma was first described in an influential article titled "The Tragedy of the Commons," written by Garrett Hardin and first published in the journal Science in 1968.'

Mon, 02/28/2011 - 16:32 | 1004780 AnAnonymous
AnAnonymous's picture

The resource being shared is not a requirement.

Mon, 02/28/2011 - 16:18 | 1004723 XRAYD
XRAYD's picture

What kind of jobs will this Panel create - other than the type that might send government dollars their way in the name of job creation?



 * Steve Case, co-founder of AOL Inc (AOL.N)


* Kenneth Chenault, CEO of American Express Co (AXP.N)


* John Doerr, partner at venture capital firm Kleiner Perkins Caufield & Byers


* Roger Ferguson, CEO of asset manager TIAA-CREF and former Federal Reserve Board vice chairman


* Mark Gallogly, co-founder and managing principal of Centerbridge Partners


* Joseph Hansen, president of the United Food and Commercial Workers Union


* Lew Hay, CEO of NextEra Energy Inc (NEE.N)


* Gary Kelly, chairman, CEO of Southwest Airlines Co(LUV.N)


* Ellen Kullman, CEO of DuPont Co (DD.N)


* A.G. Lafley, special partner at private equity company Clayton, Dubilier & Rice


* Monica Lozano, CEO of impreMedia and publisher and CEO of its Spanish language newspaper La Opinion


Darlene Miller, CEO of Permac Industries


* Paul Otellini, CEO of Intel Corp (INTC.O)


* Richard Parsons, senior adviser at Providence Equity Partners and board chairman of Citigroup (C.N)


* Antonio Perez, CEO of Eastman Kodak Co (EK.N)



Mon, 02/28/2011 - 16:23 | 1004751 Cruel Aid
Cruel Aid's picture

* Gary Kelly, chairman, CEO of Southwest Airlines Co(LUV.N)

They need a transportation guy for the shiny new trains xcrossing the country, instead of the highway system. Which will be chunked up for train track base.

Mon, 02/28/2011 - 16:33 | 1004784 PeterSchump
PeterSchump's picture

All the money they paid to lobbyists is generating tremendous returns.

Mon, 02/28/2011 - 16:19 | 1004725 Bob
Bob's picture

Indeed, as politicians are asking ordinary Americans to sacrifice their education, their health, their labor rights, and their wellbeing to tackle budget deficits, some of the world’s richest multinational corporations are getting away with shirking their responsibility and paying nothing. ThinkProgress has assembled a short but far from comprehensive list of these tax dodgers — corporations which have rigged the tax system to their advantage so they can reap huge profits and avoid paying taxes:


- BANK OF AMERICA: In 2009, Bank of America didn’t pay a single penny in federal income taxes, exploiting the tax code so as to avoid paying its fair share. “Oh, yeah, this happens all the time,” said Robert Willens, a tax accounting expert interviewed by McClatchy. “If you go out and try to make money and you don’t do it, why should the government pay you for your losses?” asked Bob McIntyre of Citizens for Tax Justice. The same year, the mega-bank’s top executives received pay “ranging from $6 million to nearly $30 million.”


- CITIGROUP: Citigroup’s deferred income taxes for the third quarter of 2010 amounted to a grand total of $0.00. At the same time, Citigroup has continued to pay its staff lavishly. “John Havens, the head of Citigroup’s investment bank, is expected to be the bank’s highest paid executive for the second year in a row, with a compensation package worth $9.5 million.”

- EXXON-MOBIL: The oil giant uses offshore subsidiaries in the Caribbean to avoid paying taxes in the United States. Although Exxon-Mobil paid $15 billion in taxes in 2009, not a penny of those taxes went to the American Treasury. This was the same year that the company overtook Wal-Mart in the Fortune 500. Meanwhile the total compensation of Exxon-Mobil’s CEO the same year was over $29,000,000.

- GENERAL ELECTRIC: In 2009, General Electric — the world’s largest corporation — filed more than 7,000 tax returns and still paid nothing to U.S. government. They managed to do this by a tax code that essentially subsidizes companies for losing profits and allows them to set up tax havens overseas. That same year GE CEO Jeffery Immelt — who recently scored a spot on a White House economic advisory board — “earned total compensation of $9.89 million.” In 2002, Immelt displayed his lack of economic patriotism, saying, “When I am talking to GE managers, I talk China, China, China, China, China….I am a nut on China. Outsourcing from China is going to grow to 5 billion.”

Damn, this is shaping up to be a bonified Blue Ribbon Panel of Great Americans.  We'll all be working overtime soon . . . one way or another.  Somebody's gotta pay those fucking taxes.

Mon, 02/28/2011 - 20:05 | 1005445 sgt_doom
sgt_doom's picture

Excellent comments there, Mr. Bob.

I would like to add the following comments, based upon many years of political activism combined with forensic economics research -- I won't be arguing, but anyone who disagrees is free to attempt to invalidate anything I've said:

The five top most powerful, and politically influential organizations and lobbyist groups in America (and all having international membership) are:

(1) Council on Foreign Relations

(2) Bretton Woods Committee

(3) Peterson Institute

(4) Group of 30

(5) Trilateral Commission

What they all have in common?  Majority financing from the Rockefeller family.

The successor oil companies (at least the two major ones) to Rockefeller's Standard Oil are Exxon Mobil and BP.

Now, while a number of Rockefellers are minority share holders in Exxon Mobil, collectively they make up majority share holders.

It appears that the paltry several billion listed as the Rockefeller fortune is sadly, and falsely, misstated.

And when looks at the evolution of the peddling of securitized debt -- and the affiliated credit derivatives creation and markets -- those groups involved, the Group of 30, Rockefeller's (and Morgan's) bank, JPMorgan Chase (as well as Morgan Stanley and Citigroup, also associated with those two), appear highly, highly involved and culpable.

Oil, munitions, pharmaceuticals, international finance....those Rockefellers might just be considerably even more involved than the Koch brothers and Peter G. Peterson.

(And never forgot all those who have married into the Rockefeller family; John Foster Dulles, Rothschild, etc., etc., etc.

Mon, 02/28/2011 - 21:57 | 1005684 newworldorder
newworldorder's picture

You have articulated something very profound here.

Let's not get distracted by the Robber Barron names of old. The biggest legacy they left behind are the tax exempt foundations, able to set the behind the scenes American Agenda in every generation, through perpetual funding of their favorate causes. You can add to that the new fortunes of Gates and his current cronies. Marry that with the funding they provide to the think tanks (keeping those ex politicians in bread and circuses till the next elections,) as well as the funding for Ivy League Universities and presto you have a new world order, self perpetuating brain and economic trusts that have rulled this country since the Roosevelt administration. The sheeple are on a perpetual sleep, while you and I keep thinking that we can wake them up. Not a chance.

Tue, 03/01/2011 - 19:25 | 1009348 sgt_doom
sgt_doom's picture

"Let's not get distracted by the Robber Barron names of old."

Sorry, dood, once again (although your comments are appreciated) you've missed the point and are playing the fool.

Gates and Buffet are waaaay back, and unless we fully understand and appreciate the real oligarchs, people will never GET IT!

Who owns Exxon-Mobil?  BP??


JPMorgan Chase, Morgan Stanley, Citigroup et al.?????

You've got to face up to reality, sonny.

The top three richest families in North America (and among the top 12 on the planet) are the Rockefellers, Morgans and Du Ponts --- they aren't simply the Robber Barons of old, they are simply soooo rich they've successfully hidden their true worth and wealth.

Now that's what being super-rich is all about....

Mon, 02/28/2011 - 16:21 | 1004738 FromGaltsGulch
FromGaltsGulch's picture

Keep you r friends close

Keep your enemies closer

Mon, 02/28/2011 - 16:33 | 1004771 AN0NYM0US
AN0NYM0US's picture

the bankstas ain't no enemies of O, nor he of them and never have they  been enemies, that's been the talking points from the MSM - remember it was the bankstas that were the top donors to the campaign of O led by GS

and his appointments, Geither, Summers, Bernanke et. al.

Barack Obama is the best friend the bankstas ever had

Mon, 02/28/2011 - 16:20 | 1004739 FromGaltsGulch
FromGaltsGulch's picture

Keep you r friends close

Keep your enemies closer

Mon, 02/28/2011 - 16:21 | 1004742 the not so migh...
the not so mighty maximiza's picture

league of a-holes

Mon, 02/28/2011 - 16:22 | 1004750 New_Meat
New_Meat's picture

"And there was a time when people thought Obama was out to get the bankers..."

I'd say that O has got the bankstas: by the short hairs.

- Ned

Mon, 02/28/2011 - 16:24 | 1004752 Mad Mad Woman
Mad Mad Woman's picture

 WTF????       Hope & Change have just been drowned in the bathtub. 


Mon, 02/28/2011 - 16:24 | 1004755 sunnydays
sunnydays's picture

Is there anyone on his staff who is not a banker now?  JP Morgan is represented as Chief of Staff - Treasury - Goldman Sachs.

Guess he needed Citi in there somewhere.

Mon, 02/28/2011 - 16:24 | 1004757 Lapri
Lapri's picture

That council is filled with banksters and hedge funds (including Obama's golf buddy at UBS), union bosses, a member of one of the wealthiest families in the US, CEOs of growth industries like Kodak and Zerox and Comcast.

FYI, my blog post:

Mon, 02/28/2011 - 16:25 | 1004758 Snidley Whipsnae
Snidley Whipsnae's picture

"one way or another.  Somebody's gotta pay those fucking taxes."

Why?... I thought one of the purposes of QE was to show the world that Americans never need pay taxes or work again? Hell, let the azz hats print until the whole damn thing blows up in their faces... Why are taxes even collected any longer when the debt could never be repaid in a zillion years?

Mon, 02/28/2011 - 16:26 | 1004760 Sqworl
Sqworl's picture


Mon, 02/28/2011 - 16:28 | 1004763 karzai_luver
karzai_luver's picture

This is why none of them can do jail time(yet) as that would (in theory) keep them out of the admin.


He's always been "out to get the bankers" MONEY HONEY!

His previous dog and pony show was to show the bankers how they needed HIM to keep the rable at a low boil.


Seems to be working, in the us anyway.

Anyone that worked at Shitty above the level of branch mgr should never hold any job in or out of gvt again.




Mon, 02/28/2011 - 16:37 | 1004793 baby_BLYTHE
baby_BLYTHE's picture

I will go to jail for ZH. I will become the next Martin Luther (King), JR.

Educate the folks in there about negative-real interest rate monetary policy, paper money, usery and theft via money printing.

Better than Gitmo Jihad, right?

Bullard is a real asshole.

For all the commies... Cattle Decapitation. BTFD, go vegan.

Mon, 02/28/2011 - 16:29 | 1004772 packman
packman's picture

"And there was a time when people thought Obama was out to get the bankers..."

Probably the same people who think that Obama actually runs the government.


Mon, 02/28/2011 - 16:36 | 1004795 John McCloy
John McCloy's picture

Presidents gave way to puppets on Elm Street 11/22/1963

Mon, 02/28/2011 - 16:34 | 1004789 sbenard
sbenard's picture

He added AFL-CIO President Richard Trumka, too. We're doomed!

Mon, 02/28/2011 - 16:34 | 1004792 Dr. Porkchop
Dr. Porkchop's picture

So many people got caught up in the 'Obama the Socialist' meme. Well, I suppose he is, but not the socialist they were talking about. His socialism is the corporate kind.

Mon, 02/28/2011 - 16:37 | 1004797 voltaic
voltaic's picture

What makes Obama so much more repulsive than Bush is that with Bush you knew what you were getting. With Obama it's not anything that was advertised. Both Bush and Obama are losers, but Obama is certainly more deplorable. I didn't think it was possible to infect an administration with so many banksters and corporate cronies than Bush, but Obama has topped it. 

Mon, 02/28/2011 - 16:38 | 1004800 disabledvet
disabledvet's picture

G Immelt is actually when it comes to GE and jobs one of the best.  If you would like to know what "bad with jobs" relative to "GE" is well you are more than welcome to see what a "former center for high end aircraft mfg" looks like where i live.  What's that saying--"don't forget to outsource yourself as well"?  Of course who needs aircraft let alone all that "low grade metal" that goes with making them--so 20th century.  Ain't nothin' ever new and worthy of keeping in that space.  As far as Dick Parson's and Time Warner we even want to know what goes on in that bldg?  Never fear--a worthless greenback is here to "make industry and thrift" all right again.

Mon, 02/28/2011 - 16:40 | 1004806 Big Ben
Big Ben's picture

Make room for another pig at the trough! These jobs panels give the poor starving animals a chance to plead for more and better slop. And they give the big O an opportunity to appear concerned about jobs after having ignored them for his first two years in favor of healthcare.

Mon, 02/28/2011 - 16:42 | 1004809 ElMoro
ElMoro's picture

Angelo Mozilo was on the short list

Mon, 02/28/2011 - 16:47 | 1004818 sbenard
sbenard's picture

Obama isn't really creating jobs. He's creating the APPEARANCE that he wants jobs.

Like all tyrants, what he really wants is more power and control!

Mon, 02/28/2011 - 17:03 | 1004881 S.P.Q.R.
S.P.Q.R.'s picture

This is perfectly within character of the administration, the most bank centric administration in US history. Actions speak louder then words, the financial oligarchy & the administration have been working and will continue to act in consort for mutual benefit.  Can you imagine the civil unrest had the mccain/palin ticket won and enacted identical  financial measures - there would have been riots in the street. There could be no more perfect figure head then Obama to sell the message, so it shouldn't come as any suprise when we see a second term -  as long as this administration continues to toe the line there will be no need to change horses.  I take a pragmatic view, better the devil you know so might as well profit by it. Not like a different side of same coin will change what is now a foregone conclusion anyways.  

Mon, 02/28/2011 - 17:04 | 1004882 francis_the_won...
francis_the_wonder_hamster's picture

Richard Parsons:  the same guy that ruined Dime Savings Bank, ran Time Warner into the ground, was a political appointee to Citi's board, had had an extra-marital affari with a woman half his age?

That Richard Parsons?  We're saved!!!!

Mon, 02/28/2011 - 17:06 | 1004889 optimator
optimator's picture

Jack Welch's mistake, Jeffey, saw the stock go down to $6 a share.  Currently the stock is $21 a share in two short years.  After the company Tom Edison founded went 125 years without one of "Them" running it, along came Jeffey.  So, Jeffey gets appointed as one of the managing directors of the New York Fed, and GE gets a pipeline to the free money.  I believe Jeffey is the first GE guy to be named a manager of the NY Fed so I assume he has the main "Qualification" for the position. 

Mon, 02/28/2011 - 17:14 | 1004922 Natasha
Natasha's picture

When is Rick Wagoner going to join the job team?

Mon, 02/28/2011 - 20:07 | 1005449 johnnynaps
johnnynaps's picture

He is 2nd in line behind Angelo Mozilo!

Mon, 02/28/2011 - 17:27 | 1004977 francis_the_won...
francis_the_wonder_hamster's picture

I found this little gem from when Parsons was named chairman at Citi:


<<<Robert Froehlich, the chief investment officer of DWS Securities, the retail arm of Deutsche Bank (nyse: DB - news - people ), called Parsons' newest promotion the "single worst thing" Citi could have done. However, there is a silver lining, although it's a questionable one. "My only hope with putting Parsons at the top is this: It will make any acquisition of Citi very easy," he says. "So many mergers fail because the executives at the top fight over who is better suited to run the combined firm. That won't happen with Parsons. Anyone would be better suited than him.">>>

"Why, if Disney (nyse: DIS - news - people ) merged with Citi, I would take Mickey Mouse over Parsons."

Mon, 02/28/2011 - 17:43 | 1005027 gwar5
gwar5's picture

There's never a shortage of cronies. Buy silver and gold.

Mon, 02/28/2011 - 18:06 | 1005108 Fix It Again Timmy
Fix It Again Timmy's picture

Expecting anyone in the Military-Industrial-Congressional-Judicial-Media complex to provide any solution is an exercise in futility - they are set financially and are playing at pretending to be concerned.  The only time they burn the midnight oil is when the system is about to crash, otherwise it's a Potemkin village of concern and effort; therefore let the goddamn system crash - "Obstacles will make you clever" - Ho Chi Minh - the status quo will not.  Excuse me, golf at 6, dinner at 8, mistress at 10, midnight - go home and and get ready to to meetings 10 to 4 then dinner at 6....

Mon, 02/28/2011 - 18:19 | 1005164 Clint Liquor
Clint Liquor's picture

Immelt and Parsons should be in prison not on the President's committee.

Democrats hate big corporations. Republicans hate big government.

And both of them are too stupid to see we now have both working together to fuck the People.



Mon, 02/28/2011 - 18:23 | 1005177 alfred b.
alfred b.'s picture


   Just what's next from obama.....Madoff for Secretary- treasurer ???    ...really!

Truly the most incompetent prez ever to hold office!



Mon, 02/28/2011 - 18:59 | 1005276 Rainman
Rainman's picture

This is Daley "the otha brutha's" handywork. Moving his charge into the cage with the lions. Get some photo shots of the Great Agitator taming  the corporati.....building steam for the '12 fundraising machine. Nobody takes it seriously. It'll end up with results similar to the useless Debt Commission.

Mon, 02/28/2011 - 20:10 | 1005453 PulauHantu29
PulauHantu29's picture

I remember seeing Obama slamming his fists down on the podium yelling, "No more bonuses" after the AIG multimillion dollar hunting trip.

A few month later we hear the news Wall Street Banks will take home record Bonuses in 2009.

Who said, "crime doesn't pay?"


Tue, 03/01/2011 - 05:41 | 1006358 lunaticfringe
lunaticfringe's picture

Call me when it's time to sharpen the guillotines. We'll make monogrammed wicker baskets.

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