Obama Appoints Ultimate Wall Street Insiders to Top Posts ... Again

George Washington's picture

Washington’s Blog

Obama is replacing his chief economic adviser - Larry Summers - with Gene Sperling.

Sperling is currently a counselor to Treasury Secretary Timothy Geithner, and is now being appointed as Obama's chief economic adviser. He's been there before: Sperling will hold the exact same post he held under Bill Clinton - National Economic Adviser to Clinton and director of the National Economic Council.

that post, Sperling was principal negotiator with Treasury Secretary
Lawrence Summers in finalizing the Gramm–Leach–Bliley Act Financial
Modernization Bill which repealed Glass-Steagal.

And Shahien Nasiripour notes:

... served as a consultant to Goldman Sachs, and in 2008 harvested
sums reaching seven-figures for his work there and in delivering
speeches to the highest ranks of the financial services realm.


Dean Baker and the liberal pundit Robert Kuttner [note that] a key
item on Sperling's resume is the nearly $900,000 he earned as a
consultant for Goldman Sachs, at the very time the bank was playing a leading role in the worst financial crisis since the Depression.


earned Obama's enduring gratitude late last year when he played an
instrumental role in delivering the deal to extend the tax cuts handed
out by President George W. Bush to the wealthiest Americans in exchange
for continuing emergency unemployment benefits.

many on the left and right say that Sperling has a warm, cuddly streak,
and he has done some good things, his background and past actions
indicate that he think exactly the same as Summers. See this and this.)

Obama is also replacing chief of staff Rahm Emanuel with William Daley.

Daley is a senior executive VP of JP Morgan. He was Emanuel's mentor, and President Clinton's Secretary of Commerce. And yes, he is a scion of the Daley family of Chicago political fame.

Different day, same crowd ...

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penisouraus erecti's picture

Gotta love Chicago - one Daley retires, opens up the mayorship for fellow Chicago mafia guy Rahm Immanuel, and then his brother - JP Morgue exec Bill gets cabinet post. Unf'ing believable.

And - they plan to raise Illinois taxes by 75% to pay for stuff like this:



anony's picture

One Zionist, from the elite end of that hierarchy, replaces another.


Salinger's picture

The Pro-Growth Progressive:
An Economic Strategy for Shared Prosperity

2005 Gene Sperling
Simon & Schuster


Fiscal Recklessness Invites Unnecessary Risk





Sperling on Global Warming





(any chance we ask Larry to comeback?)

V for Vendetta's picture

In Wall Street, We Trust!

f16hoser's picture

As a registered Republican, I am going to vote straight Democrat just so we can hasten our economic demise quicker. We all know it's coming so lets get it over with already....I know the Republicans are just as bad but with one party in dominance things seem to get ugly just that much quicker. Every politician on the planet is either "Captured" or is in the process of being "Captured." Every once in awhile we catch one "in the act" like the Duke Cunningham the old Navy pilot. Pains me to say that about a fellow fighter pilot but hey, it happened. Dumb Shit got caught! He just got to greedy too early. US politicians have to take their time and ease into it as they build up their corporate support group.....

johnQpublic's picture

"Unto you it is given to know the mysteries of the Kingdom of God, but to the rest in parables, that seeing they may see not and hearing they may not understand (Luke VIII. 10).

"he shall be known throughout the land as a bringer of peace"

the first description of the antichrist in hebrew as the fallen one 'baraq bama'


just sayin.....if the shoe fits...hope and change all false, and a nobel prize for what exactly?


when crazies rule the henhouse, we raise foxes

fattkidd's picture

hey man, if you wanna believe in those fairy tales, that's your right. But, if you think Obama is anything more than a pawn, a useful idiot, like the rest of the last 9 presidents, then you're just playing into the real ruler's hands.

the men behind the curtain are the ones pulling the levers. If you don't believe me, just read what Pres Wilson wrote after he realized what he had done by signing the FED into law. Or, what FDR said about the powerful monied interests (I mean, they tried to stage a fascist coop in 1936 and all they got was a reprimand from Congress for chrissake!), or what Eisenhower said about the Military Industrial (Congressional) Complex.

If there is an antichrist... he is the 'Creature from JEkyl Island'.

anony's picture

I'm unjunking you.

That clod woudn't know the truth if it came from god herself.

fallst's picture

BTW, anyone else banned from posting at Huffington?

So much for free internet.

Ralphie's picture

+1 All of us Z- Hedgers are going straight to the FEMA camps on the short bus when the Schumer hits the fan, anyway. Might as well get used to the Pinks ostracizing us...

Azannoth's picture

I usually don't last more than a week on any forum except ZH, that is why I click all the Ads at least 1 per day, vote with your feet

the not so mighty maximiza's picture

Proof Obama is bought and paied for. 

blindfaith's picture

blindfaith has NO more faith in this government.


Been a democrate since Nixon.  Kissing up to and getting drunk in communist China, then Watergate did it for me.

I will never again give one penny to the democrates, nor vote for another one.  Whatever you have bebcome, I do not recognize as my home any longer.

oddjob's picture

What happened to change you can believe in?

Tic tock's picture

unbelievable stupidty

gangland's picture

you ask me, there is no difference between, daddy bush, bubba, junior shrub and barry.  only token differences are at the very margins...and to this day...I am still shocked, flabbergasted, I thought I'd seen everything, I cannot believe this cabal had the gaul the other day to have bubba in the briefing room taking the podium, acting all uncomfortable and nervouslike, while the president of the united states looked completely disinterested in what the fuck the point of the press conference was, not to mention what the country is going through, to go to a fucking , no no, another fucking christmass party, one last christmass party to aqueeze in while 50 million are uninsured and another 50 million are on food stamps.  that was the most desperate move I think I have ever seen and will ever see a sitting president pull, it was worse that the putin/medvedev act, at least over there I expect the leadership obfuscation....

fallst's picture

Ok, they voted for Obama, not Hillary.

So, he then puts all Clinton advisors in.

The worst ones.

Then Bubba pushing for the boyz tax breaks, in Obama's Howse, because he is now worth $100 M. NAFTA Boy.

What do we got here, Gentlemen?

dcb's picture

I think it may be worse than before. shows how the oligarchy has cemented power in both parties

Twindrives's picture

You Obama supporters can shine my southern boots and kiss my white ass while you are at it.

anony's picture

Got it ass backwards.

Wall Street Appointed theBamster. Not vice versa.

Wall Street appoints all the entities that truly matter.

BigDuke6's picture

'This is the end.... do,de,do.... my only friend the end.....'

Huey choppers going by..... whocka , whocka.....

'My only friend the end....'

just to get off the crappy 'you're a racist cos you mentioned africa and obama in the same sentence...'shit.

Have you ever been to jim morrisons grave?  i have.

i'd been in paris for a week and it seemed obvious....hmmm

its in a massive cemetary, you get there and think 'shit how will i find it?'

until you see the first gravestone which has an arrow saying 'jim'

and you follow the signs on the defaced gravestones to about 100m from his grave, where all the gravestones are totally covered in little monologues .... 'jim  you were such a poet'  and so forth...

you get closer and there's smelly hippies and airheads all sitting around getting mellow on smoked banana skin.

this was 1991 so by now the whole thing will be graffitti'd out.

anyway, sudden debt - i may follow your sell out and go silver...

'this is the end.... do,de,dooo... my only friend...'

gwar5's picture

Yeah, repealing that Glass-Steagall thing sure worked out well.

Let's bring back the wrecking crew boys who did that.

Sudden Debt's picture

I you also want a job at a top post, just deposit 50 million into the Obama "Screw you guys, I'm going to retire in style" private fund.

Azannoth's picture

But in the eyes of 70% of Americans(who like the Prez as a 'person') still think he's only a poor guy from an oppresed minority and we should give him a 'chance' after all we 'owe' it to the balck people, I mean just look at Africa not a single functioning Government(by our standards) why not let an African(or whatever he is, Arab?) run this country into the ground so the Africans won't feel so depressed by our superiority after we let our economy go to ruin on his watch

AnAnonymous's picture

not a single functioning Government(by our standards)


That could have meant hope for them. Until the point one has to admit that they are forced into our standards, or even worse, the perceived version of our standards.

margaris's picture

Are you kidding me?

Africa's countries have no functioning Government NOT because they are incapable,

but because the WEST has for the last couple of hundred years systematically

colonized, abused, enslaved, robbed and destroyed them.

IMF and WTO have Africa on a short leash!

Jean Ziegler once said:

"Its not about helping the poor people of the third world, its about stop stealing from them!!!"

trav7777's picture

Jesus fucking christ, this is the most ridiculous bullshit ever posted.

Then what the fuck happened to India or Australia?

The West is NOT TO BLAME for the failures of Africa.  The west brought electric power, modern medicine, and the written word to Africa...without the West, Africa would be still in the stone age.

You DWLs make me want to puke.  Open your fucking eyes and stop being a miserable little weasel.

Budd Fox's picture

They were writing before. Hyerogliphs are older than our simple stuff.

AnAnonymous's picture

Then what the fuck happened to India or Australia?


India was pushed back as the British destroyed the Indian industry like textile to make room for their own industry. As to Australians, well, they are probably not the most faring population in the world today and the defense of the white settlement installed there is growing costier by the day as the Chinese are just next door. Still relinquishing on that would be a dramatic loss in terms of trade routes control though.

west brought electric power, modern medicine, and the written word to Africa...


The West brought an infrastructure to extract wealth from these places. Very little was done to allow trade between countries of the same continent. That would have been counterproductive as the aim was to evacuate the wealth toward the colonial powers so they used it for their benefit.

without the West, Africa would be still in the stone age.

They would have been stuck in a sustainable way of life? What a disgrace. They are much better with a way of life nobody know how to sustain on the long term and that is raising  a lot of questions with no answers.

fattkidd's picture

And, do you think the Africans were happier BEFORE white man stepped on their shores or AFTER? I'm guessing they'd all rather we had kept to our own backyards.

YHC-FTSE's picture

I don't know why you got junked. It's a fairly accurate description of modern African history.


Mostly, Africa's main problems stem from lack of long term credit from the West which made improving civic services and infrastructure impossible. That and the constant witch hunts for "Commies" and CIA assassinations killing anyone half decent elected to office in an African nation and replacing them with insane cannibals. It is their fault, no doubt about it, for not being strong and vigilant enough about the Western cunts in our midst who want to keep the black stereotypes alive for another century. The new US African command, Africom, is still busy hampering Chinese efforts to give some African nations long term credit even today.


A good example of our attitude to Africa is Ethiopia. An ancient empire comparable in significance to ancient Egypt. When adopted monoculture farming and drought hit it in the 1980's, a whole song and dance about Live Aid was played around the world - at the exact same time, the Western banks were demanding and raking in 2-3 times the donations made to famine victims in interest alone for previous loans made to the Ethiopian government. How fucking cuntish is that? 

trav7777's picture

WTF...the WEST didnt LEND Africa money?!?!?

Who the fuck lent the West money?  God?

JFC, you DWL white pukes make me want to vomit with your blame whitey first mentality for EVERYTHING.  Right, NOTHING can be the fault of Africans.  ANY time an African fails at ANYTHING, it is a WHITE PERSON'S FAULT.

Ethiopia was comparable to Egypt, huh?  Must be why there are all those massive architectural monuments there...

YHC-FTSE's picture

You don't go out to the opera much, do you? Ever heard of Aida? When war broke out in Korea, Ethiopia was one of the first nations to volunteer troops for the UN, and their ancient culture will astound you if you ever cared to look. 


I'm not trying to change your world view - only you can do that - but it's always worth learning something new. Not blaming "Whitey", that would be stupid, unless you think only white people live in the US. 

AnAnonymous's picture

 It is their fault, no doubt about it, for not being strong and vigilant enough about the Western cunts in our midst who want to keep the black stereotypes alive for another century.


That is quite a definitive statement. The situation is unfortunately not that clear cut.

The fact is that for various reasons, we have grown dependent on their resources, even through the prism of the real economy stuff (commodities, resources not being the real economy etc) Not only dependent on their resources but also demanding on certain price brackets.

As we cant do without their resources, this issue is certainly not reduced to the cunts within us but us as a use of African resources for African purposes translate into less resources for us.


YHC-FTSE's picture

A little late, but I hope you know from all I have posted that I was being a little facetious for dramatic effect. Of course I wish the individual African nations in question had been more averse to Western influence and chosen their own path in their natural development as so many Asian nations have, but as I have repeated, I believe the main culprit of their downfall have been our attitudes towards terms of trade with them.

Azannoth's picture

"Mostly, Africa's main problems stem from lack of long term credit from the West", and where does the West get their credit from ? Oh we Work for it

With all the natural resources in Africa, the continent could very well be economically independent but I guess they 'enjoy' slavery or at least can't help it because thery too stupid

"African nation and replacing them with insane cannibals", canibalism and witchery are things those people belive in it's representative of their culture

YHC-FTSE's picture

Azannoth, I can't be bothered to double post to you and Trav777 who seem to be cut from the same cloth, so I'll address yours. I'm trying very hard not to judge what you post, because those were precisely the perplexing views I had before reading more about Africa's curse of commodity/resource wealth. 


It must be comforting to dismiss an entire continent of people as poor and stupid, but dig a little and the truth can't be further away from the myth. The long term credit I refer to is the engine of modern Western governments - without it, as you can clearly see all around you, government services can ground to a halt. You don't work hard for that credit, you don't "earn" it, you work hard towards clearing it without it impacting on your economic growth. The UK, for example, could never have developed itself back to a first nation state after WWII had it not been for the Anglo-American loan agreement, which only got repaid on the 29th Dec 2006! Short term credit, along with high risk status and interest, forces people to live on subsistence level because of cash flow. Any CFO should be able to figure that out for him/herself, and that along with terminal meddling with Africa's farcical election systems, murdering anyone with a PhD, and I guess our own blasé attitude to the stupidity of the unfortunate poor made the foundations of modern Africa. Look at countries like Kenya, and you can see how Africa could be, given half a chance. 


As always in the making of a disaster, a combination of factors are in play including Africa's own cultural heritage - I won't deny that. But it should be clear even to the most ardent haters of Africans that the main culprit of their downfall is our treatment of trade with them. 

AnAnonymous's picture

With all the natural resources in Africa, the continent could very well be economically independent


The African continent is only rich as the Moon was perceived to be rich from the Earth.

People who lived on the Moon did not perceive that much the Moon as rich.

margaris's picture

Thanks YHC-FTSE, you are right it is all about debt slavery.


gangland's picture

yeah thanks for pointing that out, all the fucking money went to interest payments not farmers!  gee, why do they hate us again? and yeah you want a functioning africa, kick out africom.

gangland's picture

want functioning society in africa? first read 'king leopold's ghost' by adam hochschild, that will set the scene for you to at least understand the background of what we're dealing with.  should you choose to take action after reading this book, you can stop using (or pay the true cost, increase the price by a factor of ten) petroleum products and your cell phone, laptop and HDTV.  your god forbid american's quality of life EVER go down even a hair so that another person thousands of miles away, not a threat to your way of life one bit can breathe.

edit: about that book, over 50% of the male population killed in the congo under belgian leopold, some 13 million (yes, that is correct, 2X the holocaust exclusive to my jewish friends) congolese killed in the most horrible ways, it's a well sourced, fully annotated and referenced, scholarly work based largely on primary material and sources. Belgium has not admitted any fault in any official capacity to this very day.





CulturalEngineer's picture

You're right!

Frankly, the first thing Africa (or individual African nations) should do is CREATE THEIR OWN MONEY BASED ON THEIR OWN ASSETS! (and they have plenty)

So long as credit creation remains in the hands of an elite... it'll keep favoring that elite.

Don't for a minute think the American middle class is in some special category. WE aren't. Either truly learn to wisely self-govern and attend to the technology of money (instead of listening to political flatterers telling you how special and brilliant you  are while they make you the mark in a rigged-game of three-card Monty)... or get used to bending-over.

Decision Technologies: Currencies and the Social Contract

fattkidd's picture

Yep, the only difference between the American Middle Class and africans is that it's been their turn (to get f'ed in the ass) and now it's ours. The chickens have come home to roost and to rob us of the spoils of our labor. It was bound to happen eventually.

But, let's be honest, do we really deserve the standard of living we're enjoying now? I don't think so. As has been mentioned, most of it is based on the suffering of someone else. Now, it's our turn to suffer. Problem is, we're not used to it! So, there will be some internal conflict for a while... until the jack-booted thugs (read US military... 3rd ID) put those boots to our necks.

trav7777's picture

the american middle class has an IQ 20-30 points higher than the average African

Budd Fox's picture

That's why the F uck up in this place is more complex than the plain f uck ups over there!!!

MayIMommaDogFace2theBananaPatch's picture

The IQ of Sleeping Sheeple is difficult to measure in a meaningful way.

Do you think that 20-30 IQ points will be helpful to many people if they actually are forced to take care of themselves in a crisis?

gangland's picture

Number One ... in Self-Promotion
Freedom Fighters for a Fading Empire 


"I'm a retired U.S. Air Force officer and a historian who teaches military history. The retired officer in me warms to the sentiment of our troops as both unparalleled fighters and selfless liberators, but the historian in me begs to differ.....Americans often seem to live in the eternal now, which makes it easier to boast that our military is the finest ever. Most historians, however, are not so tied to nationalistic rhetoric or the ceaseless present. If asked to identify the finest fighting force in history, my reaction -- and I would hardly be alone in the field -- would be to favor those peoples and empires which existed for war alone.....Yes, the Spartans defeated the Athenians, but that internecine quarrel paved the way for the demise of the independent Greek city states at the hands of Philip of Macedon and his son, Alexander (soon enough to be known as "the Great").

Yes, the Romans conquered an empire, but one of their own historians, Tacitus, put in the mouth of a Celtic chieftain this description of being on the receiving end of Roman "liberation":

"The Romans' tyranny cannot be escaped by any act of reasonable submission. These brigands of the world have exhausted the land by their rapacity, so they now ransack the sea.When their enemy is rich, they lust after wealth; when their enemy is poor, they lust after power. Neither East nor West has satisfied their hunger. They are unique among humanity insofar as they equally covet the rich and the poor. Robbery, butchery, and rapine they call 'Empire.' They create a desert and call it 'Peace.'"

....Still, the gold medal for the largest land empire in history -- and the finest fighting force of all time -- must surely go to the thirteenth century Mongols.

Led by Genghis Khan and his successors, Mongol horsemen conquered China and the Islamic world -- the two most powerful, sophisticated civilizations of their day -- while also exerting control over Russia for two and a half centuries....Measure that against the American military today.

General David Petraeus is certainly a successful officer who exhibits an enviable mastery of detail and a powerful political sense of how to handle Washington, but a Genghis Khan? An Alexander? A Caesar? Even "King David," as he's been called both by admirers and more than a few detractors, might blush at such comparisons. After all, at the head of the most powerfully destructive force in the Middle East, and later Central Asia, he has won no outright victories and conquered nothing. His triumph in Iraq in 2006-2007 may yet prove more "confected" than convincing...

..As for our armed forces, though most Americans don't know it, within U.S. military circles much criticism exists of an officer corps of "tarnished brass" that is deficient in professionalism; of generals who are more concerned with covering their butts than leading from the front; of instruction at military academies that is divorced from war's realities; of an aversion "to innovation or creativity… [leading to] an atmosphere of anti-intellectualism" that undermines strategy and makes a hash of counterinsurgency efforts....a fighting force that is otherwise overstretched, deeply frustrated, and ridiculously overpraised by genuflecting politicians...

Because we Americans believe our own press releases, it's difficult to imagine others (except, of course, those so fanatic as to be blind to reality) seeing us as anything but well-intentioned liberators. As journalist Nir Rosen has put it: "There's… a deep sense among people in the [American] policy world, in the military, that we're the good guys. It's just taken for granted that what we're doing must be right because we're doing it. We're the exceptional country, the essential nation, and our role, our intervention, our presence is a benign and beneficent thing."

The historian John Lukacs once noted: "There are many things wrong with the internationalist idea to Make the World Safe for Democracy, one of them being that it is not that different from the nationalist idea that What Is Good for America Is Good for the World."

 To understand why this is so, ask yourself how comforted you would be if foreign military "liberators" kicked in your door, shouted commands in a language you didn't understand, confiscated your guns, dragged your father and brothers and sons off in cuffs and hoods to locations unknown, all in the name of "counterterror" operations? How comforted would you be if remotely piloted drones hovered constantly overhead, ready to unleash Hellfire missiles at terrorist "targets of opportunity" in your neighborhood?

Better not to contemplate such harsh realities. Better to praise our troops as so many Mahatma Gandhis, so many freedom fighters. Better to praise them as so many Genghis Khans, so many ultimate warriors."


gangland's picture

The last American Caesars
Dismantling the Empire: America's Last Best Hope by Chalmers Johnson

Reviewed by Jim Ash

The United States is a country convinced of its own greatness. And while many would argue this claim, one thing that truly does make America great is its tradition of free expression, and its corresponding capacity for critical self-examination. Although other countries also have legal protections on free speech, none of them have the same anything-goes ethos of pushing the boundaries artistically, and speaking truth to power politically. Even though artists and thinkers who challenge the dominant corporate-state worldview are increasingly sidelined out of
mainstream American culture, they continue to keep this tradition alive, and it is difficult to imagine them ever being silenced.

But one of these challenging voices was lost in November, when Chalmers Johnson died at the age of 79...



I talked to him last year, he is a hero of mine and his loss is great....

fattkidd's picture

400 yrs of priveledge and education vs 400 yrs of repression will do that, you know?