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View Diary: "What's Happenin'?" Drone Week 10.04.2012 (78 comments)

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  •  here's a Sept. 24th column by Charles Ferguson (2+ / 0-)
    Recommended by:
    shaharazade, ek hornbeck
    Why the 2012 election will be another inside job

    While Romney and Obama trade insults about who's the worse Washington insider, the reality is both are in hock to Big Money
    Well, Romney's a pretty obvious case of Mr Insider. But let's look at Obama. He doesn't want an inside job? Over the last four years, Obama has appointed nothing but insiders – many of whom had actively contributed to the financial crisis and profited from it – to his administration's senior regulatory, law enforcement, and economic policy jobs. The head of the SEC, Mary Shapiro, was fresh from running the investment banking industry's "self-regulator", Finra, which gave her a $9m severance bonus to soften the pain of a low government salary. Her director of enforcement, Robert Khuzami, had been general counsel for the Americas of Deutsche Bank during the bubble.
    The head of the justice department criminal division, Lanny Breuer, had been in charge of the white-collar criminal defense practice of Covington & Burling, a law firm that represents and lobbies for nearly every major bank. The head of the office of management and budget, Jacob Lew, made millions as the chief financial officer of Citigroup Alternative Investments, even as that group lost billions for Citigroup. As head of the National Economic Council, we got Larry Summers, who as Clinton's treasury secretary pushed through the repeal of Glass-Steagall and a law banning regulation of OTC derivatives, and who then proceeded to make $7m from financial services firms in the year prior to joining the Obama administration (including $135,000 for a single speech to Goldman Sachs). Other senior jobs went to Goldman Sachs lobbyists, investment bankers, private equity executives, and the former chief lobbyist of Fannie Mae.
    (emphasis mine)

    without the ants the rainforest dies

    by aliasalias on Thu Oct 04, 2012 at 12:23:50 PM PDT

    [ Parent ]

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