President-Elect Barack Obama made the claim that his economic advisory team "know where the bodies are hidden" at his third press conference - as well they should since the perpetrators of the financial crisis are some of his tarnished team of rivals who know where the bodies are buried as they dug the holes, threw in the bodies and are now trying to cover up the holes with taxpayer cash. It is akin to hiring FBI squealers to reform the conomy.
From Larry "Enron" Summers to Robert "Citigroup" and "Goldman Sachs" Rubin to Warren "Berkshire Hathaway" (now facing huge losses and hints Buffett may have lost his oracle-ness), along with Paul "Carter stagflation" Volcker - as well as Tim "Bailout" Geithner, Obama has some retreads from this and past crises.
One has to ask - where are the appointments of experienced people whose banks didn't make risky loans, questionable derivatives - commercial bankers, credit union heads, etc.? Instead the insider trader crowd is proliferating the vaunted Team Obama - the third Bush term.
"Summers has ties to prominent hedge fund" from Politico
Transcript of November 25 press conference
Comments