New Obama Chief Of Staff: Former Hedge Fund Exec. At Citigroup,Cashed In...

Discussion in 'Politics' started by paulitician, Jan 10, 2012.

  1. paulitician
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    paulitician Platinum Member Supporting Member

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    President Obama's first chief of staff Rahm Emanuel once sat on the board of troubled federal mortgage giant Freddie Mac. Bill Daley, the president's chief of staff whose departure was announced today, was previously a top executive at financial firm J.P. Morgan Chase & Co. So of course there should be little surprise that Obama's latest chief of staff, announced today by the president himself, also has deep ties to the financial industry himself.

    From 2006-2008, Jack Lew was chief operating officer of Citibank's alternative investments division. And it was his division that made billions of dollars betting "U.S. homeowners would not be able to make their mortgage payments," as the Huffington Post reported.

    The piece also reported: “Lew made millions at Citi, including a bonus of nearly $950,000 in 2009 just a few months after the bank received billions of dollars in a taxpayer rescue, according to disclosure forms filed with the federal government. The bank is still partly owned by taxpayers.”

    Of course, one should not begrudge Lew his personal, professional, and financial successes. But one might wonder what kind of message the president is sending with this appointment.

    “I welcome constructive input from folks in the financial sector. But what we’ve seen so far, in recent weeks, is an army of industry lobbyists from Wall Street descending on Capitol Hill to try and block basic and common-sense rules of the road that would protect our economy and the American people,” Obama said in 2010. “So if these folks want a fight, that’s a fight I’m ready to have.”

    New Chief of Staff: Former Hedge Fund Exec. at Citigroup, Made Money Off Mortgage Defaults | The Weekly Standard
    DRUDGE REPORT 2012®
     
  2. paulitician
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    paulitician Platinum Member Supporting Member

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    I told these 'Occupiers' they should have been occupying Washington all along. Because that's where all the problems emanate from. This current President is in deep with Corporate Wall Street Bankers.
     
  3. paulitician
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    paulitician Platinum Member Supporting Member

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    Obama Attacks Banks While Raking In Wall Street Dough...

    Despite his rhetorical attacks on Wall Street, a study by the Sunlight Foundation’s Influence Project shows that President Barack Obama has received more money from Wall Street than any other politician over the past 20 years, including former President George W. Bush.

    In 2008, Wall Street’s largesse accounted for 20 percent of Obama’s total take, according to Reuters.

    Obama attacks banks while raking in Wall Street dough - Yahoo! News
     
  4. blastoff
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    blastoff Undocumented Reg. User

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    Hey, as long as his new chief isn't a Republican there's no news here.
     
  5. paulitician
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    paulitician Platinum Member Supporting Member

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    Yeah that does sadly sum up our corrupt MSM. This current President has received more cash from Wall Street than any other Politician in the last 20yrs. So why aren't the 'Occupiers' occupying the White House? The answer is...They're a sham. Just a bogus far Left Soros/Democrat-funded fraud.
     

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