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Obama's New Chief of Staff and Economic Team

by Stephen Lendman Wednesday, Jan. 12, 2011 at 3:48 AM

Wall Street dominated

Obama's New Chief of Staff and Economic Team - by Stephen Lendman

On January 7, New York Time writer Jackie Calmes headlined, "Obama Promises Full Recovery for Employment," saying:

Visiting a window-manufacturing plant "to promote his economic policies and his new team of advisers," he said:

"We will not rest until we have fully recovered from this recession."

Another promise, another to be broken by a scheme to create ruler-serf societies globally, especially in America and the West. Obama's citing a "foundation" for growth is political blather, his specialty like other key team players around him.

Yet Calmes called his new appointees "pragmatic liberals with experience in the policy-making bureaucracy - and negotiating with Republicans in Congress."

Like his Geithner/Summers/Emanuel-led team, they're, in fact, hard-line pro-Wall Street, pro-business, anti-regulation, anti-populist conservatives, appointed to shift further right, embracing core neocon/Democratic Leadership Council (DLC) tenets.

They're pro-business, pro-working class austerity, anti-populist, anti-civil/human rights, anti-rule of law, anti-government of, by and for people, anti-labor, anti-welfare, militaristic, repressive, and pro-imperial for unchallengeable global dominance.

They're hardline against Blacks, Hispanics, Latino immigrants, Muslims, workers, the poor, consumer protection, progressivism, environmental protection, peace and its supporters, prosecuting corporate and government criminals, honest elections, and democratic governance.

They back the Bilderberg Group's grand scheme that Daniel Estulin exposed for:

-- "one international identify (observing) one set of universal values;"

-- centralized dominance of world populations by "mind control;" in other words, controlling world public opinion;

-- a New World Order with no middle class, only "rulers and servants (serfs)," and, of course, no democracy;

-- "a zero-growth society" without prosperity or progress, only greater wealth and power for the rulers;

-- manufactured crises and perpetual wars;

-- absolute control of education to program the public mind and train those chosen for various roles;

-- "centralized control of all foreign and domestic policies;" one size fits all globally;

-- using the UN as a de facto world government, imposing a UN tax on "world citizens;"

-- expanding NAFTA and WTO globally;

-- making NATO a world military;

-- imposing a universal legal system; and

-- a global "welfare state where obedient slaves will be rewarded and non-conformists targeted for extermination."

In short, they seek a repressive inhospitable world with them having supreme unchallengeable power, an intolerable state unfit to live in, perpetually at war for an unattainable peace, and plans to keep it that way.

Obama's New Team, Bilderberger Approved

William M. Daley heads it as Obama's White House chief of staff. A top JPMorgan Chase executive, New York Times writer Eric Lipton headlined on January 6, "Business Background Defines Chief of Staff," saying:

A longtime corporate/government insider, he was paid " million a year" to supervise "Washington lobbying efforts of the nation's second-largest bank. He also serves on the board of directors at Boeing, Abbott Laboratories," and Merck & Co.

He a player, a key cog in Wall Street dominated America, recycled to another top White House position, his most important so far as coordinator of Obama's domestic team besides influencing his entire agenda.

Announcing his appointment, Obama said:

"Few Americans can boast the breadth of experience that Bill brings to this job....he possesses a deep understanding of how jobs are created and how to grow our economy. And needless to say, Bill also has a smidgen of awareness of how our system of government and politics works. You might say it is a genetic trait," referring to his brother Richard M. Daley, retiring after six terms as Chicago mayor, the longest tenure in city history, surpassing his father, Richard J.

They ran the city like American pharaohs for over 40 of the 55 post-1955 years. As a top Wall Street/Washington executive, William continues the family tradition on a national/global scale. Earlier he worked at Mayer Brown, one of the nation's largest corporate law firms, and served as president and CEO of Amalgamated Bank of Chicago.

In 1993, he was Clinton's special counsel in charge of coordinating NAFTA's passage, an environmentally destructive deal that assured US job losses and annual trade deficit increases. From 1997 - 2000, he served as Secretary of Commerce and chaired Al Gore's 2000 presidential campaign.

He also held top jobs at SBC Communications, now part of AT&T after consummating a billion purchase in October 2005 and adopting the AT&T name, changing it to AT&T, Inc. from AT&T Corp.

In 2004, he joined JPMorgan Chase as Midwest chairman, then in 2007 got added duties as head of its Office of Corporate Social Responsibility, its powerful lobbying arm to assure what bank executives want, they get, including industry-friendly financial reform, guaranteeing business as usual, including no limit on bank size or types of risky investments.

The New York Times, in fact, noted that Daley maintained close ties with the White House while at JPMorgan Chase, saying:

"Mr. Daley was never registered as a (Chase) lobbyist, (but) played a role in hiring and was the direct supervisor of Peter L. Scher, another former Clinton administration official, who runs the bank's lobbying shop in Washington. Mr. Daley also served as the bank's chief liaison with the White House, frequently consulting with Valerie Jarrett," Obama's assistant for Intergovernmental Relations and Public Liaison, and Rahm Emanuel whom he replaced.

On January 6, the Center for Public Integrity's Michael Hudson headlined, "Obama's New Chief of Staff Sought to Loosen Post-Enron Corporate Reforms." Calling him "a major Wall Street player," he said he wanted to "protect big accounting firms from investor lawsuits and criminal prosecution" no matter how outrageous their crimes.

His appointment cheered the US Chamber of Commerce, calling him "a man of stature and extraordinary experience in government, business, trade negotiations, and global affairs."

Ira Rheingold, Executive Director of the National Association of Consumer Advocates, disagreed saying:

In the wake of the current economic crisis, "(i)t makes you pause when you see people who worked in the banks that caused the problems - people who lobbied for positions that would have done even greater damage to the economy - being recycled into government."

In March 2007, seven months before economic trouble erupted, Daley argued:

"International financial markets are becoming increasingly competitive, and we need to step up our game and respond," adding that there's "a perception around the world that we've got problems because of a regulatory and legal climate. Whether it is true or not, the fact is that perception creates its own reality."

In other words, he wanted already loose regulations removed to give Wall Street unencumbered free reign to pillage. As White House chief of staff, he'll assure it at the expense of working Americans.

Other New Obama Appointees

Gene B. Sperling will replace Larry Summers as Director of the National Economic Council (NEC), a job he held in the Clinton administration where he and Summers were principle negotiators for passing the 1999 Financial Modernization Act (also called Gramm-Leach-Bliley Act), repealing Glass-Steagal (the Banking Act of 1933) that prevented banks, securities firms and insurance companies from merging.

Together with Trade Representative Charlene Barshefesky, he also successfully negotiated the 1999 China-WTO agreement, admitting Beijing in 2001. According to the Economic Policy Institute (EPI), it cost 2.4 million US jobs, a figure that keeps rising.

In 2008, Goldman Sachs paid him nearly million for consulting services. He's also an advisor to Treasury Secretary Tim Geithner. Sperling is known for his neoliberal, pro-business agenda, and played a key role in arranging Obama's December tax cut deal with Republicans, a measure shifting more massive wealth to America's aristocracy already with too much.

Jacob J. Lew is new Director of the Office of Management and Budget, a position he assumed on November 18, replacing Peter Orszag who became Citigroup's Vice Chairman of Global Banking, despite no industry background. He was hired as a "political asset" for his White House and congressional connections to help his new employer, a position reportedly paying him million.

Last September, Austan Goolsbee became Chairman of the Council of Economic Advisers, replacing Christina Romer who returned to academia. Goolsbee took leave from the University of Chicago where he's Professor of Economics at the Booth School of Business.

In January 2009, economist Jason Furman became Deputy Director of the National Economic Council. As of January 7, 2010, he retains the position with greater authority.

Other new appointees include Katherine G. Abraham as third ranked Council of Economic Advisors member and Heather Higginbottom, currently a White House domestic policy advisor, as Lew's deputy budget director. David Plouffe, Obama's 2008 campaign manager, will replace top White House political advisor David Axelrod when he leaves early in 2011 to work for Obama's reelection.

A Final Comment

Obama's new team signals a further shift right, assuring fewer business regulations, more corporate tax cuts and handouts, and austerity for working Americans. Despite punishing unemployment and deepening hard times, progressivism is nowhere in sight.

On January 10, financial expert/investor safety advocate Martin Weiss warned of a looming "Greek Tragedy," asking "which state will be America's first Greece."

The nation's debt crisis is "poised to crush the economy" at both federal and state levels, he warned. At every level of government, "debt and deficits are now exploding, or on the verge of exploding." Besides Washington's trillion debt bomb, another .4 trillion is being added annually, and states owe up to trillion plus another .5 trillion to pension funds.

His bottom line: "The day of reckoning is now at hand! There's no overstating how serious or how pressing this crisis is," affecting the nation, states and cities. Default is a major risk, a view Weiss shares with noted banking analyst Meredith Whitney, telling a December 60 Minutes audience to expect massive nationwide defaults in 50 to 100 cities and towns, amounting to "hundreds of billions of dollars" as pension liabilities dwarf tax revenues.

In Illinois, conditions are so dire that state officials were evicted from their offices for nonpayment of rent, and, according to New York Times writer Monica Davey, legislators in Springfield may consider what was unthinkable several months earlier - enacting a whopping "75 percent increase in the state's income tax," as one element of an evolving financial scheme discussed secretly in private meetings.

Given the state's billion deficit, the highest per capita in America, anything going forward is possible, hitting working households hardest the same as nationwide. Obama's new chief of staff and economic team were chosen to grovel to business and assure it.

Stephen Lendman lives in Chicago and can be reached at Also visit his blog site at and listen to cutting-edge discussions with distinguished guests on the Progressive Radio News Hour on the Progressive Radio Network Thursdays at 10AM US Central time and Saturdays and Sundays at noon. All programs are archived for easy listening.

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