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Obama’s Economic Foxes To Guard Financial Henhouse
Newly announced team consists of the very people who created the crisis
Steve Watson
Infowars.net
Monday, Nov 24, 2008
Today President elect Obama officially introduces his economic team to the world. What many may fail to recognize however is the fact that those tasked with rescuing the economy are the very people who helped create the financial crisis in the first instance.
We already know that the team will include Tim Geithner as Treasury Secretary; Lawrence Summers as head of the National Economic Council; Peter Orszag as director of The Office of Management and Budget; and Jason Furman, Austan Goolsbee and Jack Lew in other senior economic positions.
The man that ties almost all these people together is former Treasury Secretary and current Citigroup executive Robert Rubin.
Rubin is as much to blame for the creation of the current financial crisis as Alan Greenspan is, as both men ignored the advice of the Commodity Futures Trading Commission (CFTC) and strongly opposed the regulation of derivatives. Over-exposure to credit derivatives of mortgage-backed securities – or credit default swaps (CDS) was a key reason for the failure of Bear Stearns, Lehman Brothers, Merrill Lynch, American International Group, and Washington Mutual in 2008.
At Citi, Rubin was one of the grand strategists of the speculation in securitized loans, on November 4, 2007, he became the Chairman there.
Rubin is also currently co-chairman of the board of directors of the Council on Foreign Relations and a member of the Group of Thirty.
Every one of the afore mentioned economic “experts” to be appointed by Obama, with the exception of Skull and Bones representative Austan Goolsbee, is a protégé of Rubin.
Furthermore, as the New York Times pointed out in a weekend feature:
Even the headhunters for Mr. Obama have Rubin ties: Michael Froman, Mr. Rubin’s chief of staff in the Treasury Department who followed him to Citigroup, and James P. Rubin, Mr. Rubin’s son. All three advisers – whom Mr. Obama will officially name on Monday and Tuesday – have been followers of the economic formula that came to be called Rubinomics: balanced budgets, free trade and financial deregulation, a combination that was credited with fueling the prosperity of the 1990s.
(ARTICLE CONTINUES BELOW)
Today the government approved a radical plan to stabilize Citigroup in an arrangement in which will see the taxpayer assume the risk on $306 billion of Citigroup’s predatory loans, including billions in mortgage-related securities.
In addition, the U.S. Treasury will invest $20 billion in Citigroup from the Troubled Asset Relief Program (TARP), on top of the $25 billion that the government gave Citi in October.
Critics have called it the worst and most undeserved bailout to date, pointing out that less than two months ago, the agencies tried to give Citigroup the whole of Wachovia, portraying Citi as a savior.
The Financial Times’ chief business commentator writes:
The downfall of Citigroup has taken place over a long time and involved many people, but attention is now focussing on the role of Robert Rubin, the former US Treasury Secretary, who is a Citi director and senior adviser and was briefly its chairman. Mr Rubin has had an influential role at Citi since being brought on board by Sandy Weill in 1999 but has not been an executive. Having formerly been co-chairman of Goldman Sachs, he preferred to exercise influence behind the scenes.
(…) Now, of course, a big loss has been disclosed at Citi and various people are asking what Mr Rubin had to do with it. That was among the subjects covered in a long article in The New York Times on Saturday. It found that Mr Rubin and Chuck Prince, Citi’s former chairman and chief executive, played “pivotal roles” in the bank’s disastrous push into underwriting and trading collateralised debt obligations. The man in charge of this effort was Tommy Maheras, the former head of capital markets at Citi, who lost his job a year ago, shortly before Mr Prince resigned. Mr Rubin was then influential in selecting Vikram Pandit to succeed Mr Prince…
As a New York magazine’s headline states Robert Rubin Helped Break Citigroup and Now He Must Fix It.
“This seems a little awkward. We’re giving the guys that broke the system the contract for the reconstruction project?” the article concludes.
Perhaps an even bigger concern lies in the fact that Rubin does not even acknowledge his own role in the crisis.
As Matthew R. Lee of Inner City Press has noted, Rubin has no regrets, does not acknowledge that he has damaged the economy and has stated that it was “not under my aegis” to reign in Citigroup’s predatory lending.
The only “change” Obama’s economic team represents is that the foxes are now guarding the hen house, rather than plundering it.
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33 Responses to “Obama’s Economic Foxes To Guard Financial Henhouse”
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November 24th, 2008 at 1:55 pm
I have never had anything changed that I have posted here,the only person that can verify that is me.These people that keep coming up in these articles are the same people over and over if you can’t see that maybe thats why you keep seeing changes to your text.You live on some other planet,and if you don’t like what is said here quit coming back.Where do you think all of this money comes from its a loan from the Fed. that we will pay back with intrest.Now where is the bullshit in that.
November 24th, 2008 at 1:56 pm
lol #1, get a life
anyways it looks like a pattern is developing here, all the failed bank CEO’s are getting promoted, i’m starting to think that these entities are purpusfully making these banks fail to speed up the process here, there is no other reason why they would get key positions in the “new financial order”. at the same time that allows government and banks to further hold all this stuff over the peoples heads, basically they have a “gun” to our heads, either lose everything or just let us do what we want, people need to realize they will take everything away regardless, and if post #1 can’t see this, he’s either a plant or a complete moron, keep drinking the water, it’s good for you, 8 cups a day. lmao
November 24th, 2008 at 1:57 pm
Dear Amused….
Line up and take your shot, get chipped, turn in your guns if you have any, turn your thermostat down to 68, buy a Prius and sign your 401(k) over to the SS administration.
When you have done all that then you have the right to come over here and say this is all BS, because if you haven’t dome all this y9ou have no right to tell tel the rest of us that our concerns are all BS
November 24th, 2008 at 3:19 pm
this website is right about a lot of things, but that doesn’t change the fact that Alex Jones is a Jesuit trained agent for the vatican. Check out the huge link he has on the side of a lot of his articles about the “truth about the catholic church” If you follow the link, there’s places on that site that says the catholic church is the only true church! Yea, there is a NWO and we should prepare, but we’re missing the most important thing, God, (the Lord Jesus Christ). He is the only one we can turn to to protect us. We must prepare spiritually and get right with God before doing anything else, because like it or not, we battle no against flesh and blood, but against principalities, powers, and spiritual wickedness in high places, and we must put on the whole armor of God, which is truth, peace, rightousness, faith, salvation, and the sword of the spirit which is the word of God (the Bible). Alex Jones is not a true Christian. Research him on the internet and see for yourself. Get right with JESUS, then worry about preparing and getting informed about the NWO. Hurry up and read this, because I’m sure this will be taken down in a few minutes by Alex’s staff.
November 24th, 2008 at 3:37 pm
…obama is the hen in the fox house…this man from chicago and the nit-wits of evil he has with him…all of them will be eaten up by the anglo-saxon rule of the new world order; the all seeing eye…the global illuminati…the rome of old …the rome of new..
November 24th, 2008 at 3:40 pm
WARNING TO ALL TRUTH SEEKERS ON THIS SITE:
“# 1 amusedashell..this is a plant to grow us into an argument. ignore stupidity.
November 24th, 2008 at 3:43 pm
Sure seem to be a few disinfo agents on this site making irrational, defamatory comments trying to hold Alex Jones responsible for ad content. No comments though on the article, which seems to be supported by plenty of evidence. Instead we see “straw man” arguments which are meant to defame persons and used to distract when the issues are not contestable.
November 24th, 2008 at 3:56 pm
I hereforth and therefore now comment on this article………..ha a little humor goes a long way.
November 24th, 2008 at 4:16 pm
HA? HA? ..the blinded jews are puppets of the anglo-saxons…same chess game..?
(the white vs. the black…yin and yang…opposite = togetherness…agree/disagree?
HA? HA? …all puppets…on the same string…this is a sad day for the world…now who is laughing? HA…HA…
November 24th, 2008 at 4:24 pm
What the NWO and Illuminatti conspiracy folks need to learn is that government overspending
is what helps cause inflation. If the government increases spending and we cannot afford it, you can bet our buddies at the Federal Reserve will increase the supply of money. And tragically enough this will happen after they increase the spending! Economic suicide! Obama is asleep. He needs to wake up. Lets raise our voices!
November 24th, 2008 at 4:52 pm
another interesting thing HAHA is that when you wikipedia those people it doesn’t mention anything about any of them being jewish, pretty messed up stuff, i don’t support the whole hate jews thing but their elite are extreamely entangled into everything
November 24th, 2008 at 5:02 pm
OH GOSH!!!! I’m sooooo surprised!!!!!
DUH!
November 24th, 2008 at 5:03 pm
Haha, don’t be foolish. This has nothing to do with race/religion. Corruption and race/culture/religion do not go hand in hand. Sure those people may be jewish, but they aren’t corrupt because they’re Jewish. There is absolutely no correlation between the two. Don’t get caught playing the race card; it’s merely a distraction from what actually matters.
November 24th, 2008 at 5:35 pm
Any hopes people might had about Obama bring any sort of change have just been dashed.
“Here is the new boss, Same as the old boss”
November 24th, 2008 at 6:47 pm
They’re in control and everyone gets played out whether you like it or not. If you’re living on credit you’ll see even more pain. AJ and Ron Paul for that matter use the term “international bankers” or Federal Reserve to describe them to avoid the whole anti-semite brush that gets bantered around so readily. It’s obvious who is really pulling the strings.
November 24th, 2008 at 7:00 pm
According to MSM, the more pressing headline…
You ready for this?
Hold onto your pants…
Reality Stars Heidi and Spencer Eloped!
OMG! OMG!
Heidi and Spencer eloped?
OMG! Say it isn’t so!
November 24th, 2008 at 8:22 pm
Two foxes and a chicken once sat round a table to discuss what to have for lunch.
November 24th, 2008 at 9:21 pm
Privatized profit and socialized loss.
The comedy almost writes itself. So many power consolidators have been harping on about how this marks the death of free-market economics! What is free-market about off-loading losses on bad investments onto the taxpayers?
If you’re fed up with being treated like a subhuman herd animal, stop acting like one. Stop running out to vote in elections like a brainwashed primate, stop listening to the grinning idiots on TV, stop using their money and stop supporting their system.
Click the link below to explore a new inflation-proof currency, new economic format and new social structure that leaves the criminal bankers and corrupt politicians out of the picture altogether.
Don’t fight the system:
Replace it
http://socialviability.com/
November 24th, 2008 at 9:57 pm
Since these guys couldn’t handle their company’s finances, we’re going to let them handle the whole country. Great plan.
November 24th, 2008 at 10:04 pm
If people want true change in this world, they need to get rid of the concept known as the monetary system. Money always will cause class discrimination. We can have a revolution
put these elitist in there place, then people will forget, and another generation of the so called elite will be back pulling the same bullshit they always do. a perfect example of this
is well OUR COUNTRY. These scenrios will continue to play themselves out until people
realize What the root of the problem is. Voting for someone will never bring change. Its
obvious that this is system that benefits no one. Handing over our resposibilty to small group
of people is recipe for disaster, thats the system we have been on for a long time, and guess
what its a disaster. Bottom line everyone needs to really think outside the box if our species is to change.
November 24th, 2008 at 10:07 pm
The Big 3 come to congress, hats in hands, and get sent home to come up with a business plan (and by all means, drive your american made cars next time, gentlemen.)
Citibank makes a phone call. 20 bil? No plan, oversight, or accountability? Would you like a cashier’s cheque or small bills, fellows?
And here come OBaaaaaaahma (pronounced like a sheep) giving a thumbs up to the whole affair even as he appoints the crooks who orchestrated the deliberate economic collapse to high government office.
Change you can believe in? No, but change you can take to the bank, to be sure.
November 24th, 2008 at 10:41 pm
Do any of these master economists even know what money really is and why the bubble burst?
http://video.google.com/videop.....2583451279
November 24th, 2008 at 10:47 pm
BANKERS MANIFESTO
We (the bankers) must proceed with caution and guard every move made, for the lower order of people are already showing signs of restless commotion. Prudence will therefore show a policy of apparently yielding to the popular will until our plans are so far consummated that we can declare our designs without fear of any organized resistance.
Organizations in the United States should be carefully watched by our trusted men, and we must take immediate steps to control these organizations in our interest or disrupt them.
At the coming Omaha convention to be held July 4, 1892, our men must attend and direct its movement or else there will be set on foot such antagonism to our designs as may require force to overcome.
This at the present time would be premature. We are not yet ready for such a crisis. Capital must protect itself in every possible manner through combination (conspiracy) and legislation.
The courts must be called to our aid, debts must be collected, bonds and mortgages foreclosed as rapidly as possible.
When, through the process of law, the common people have lost their homes,
they will be more tractable and easily governed through the influence of the strong arm
of the government applied to a central power of imperial wealth under the control of the leading financiers.
People without homes will not quarrel with their leaders. History repeats itself in regular cycles. This truth is well known among our principal men who are engaged in forming an imperialism of the world. While they are doing this, the people must be kept in a state of political antagonism.
The question of tariff reform must be urged through the organization known as the Democratic Party, and the question of protection with the reciprocity must be forced to view through the Republican Party.
By thus dividing voters, we can get them to expend their energies in fighting over questions of no importance to us, except as teachers to the common herd. Thus, by discrete actions, we can secure all that has been so generously planned and successfully accomplished.
November 25th, 2008 at 4:16 am
sounds good to me. i hear that the illuminati are fallen angels and cannibals. they sure did a number on the economy. hope that they have good chefs at camp. what camp….google rex 84 pnac and population reduction ipto op plowshare op chariot gandalf. remember Germany and prepare. with love, the tracked and sheered sheep, Annie
November 25th, 2008 at 4:26 am
Those criminal elements had planed all financial problems, the global-elites, the criminals had managed to drive the United States of America into endless wars to destroy the economy and everything in the world. Those criminals are exposed and are failing, the truthful people shall expose them more and more to educate the public on how those criminals are inflecting such damages on the economy.
November 25th, 2008 at 5:22 am
This is a repeat as old as time,as long as man is in control we are doomed to be cheated,lied to,stolen from,murdered,inslaved.We are but a race to be led around by a leash,there is no change just a repeat of what has always been.If you don’t see that even in this site you are pitted against others,how do you know that this is not part of the plan.It is always money(or what ever you covent) that is behind all EVILOur only hope is Christ,for the day will come when all shall bow before him.Get back to the Bible for it is the beginning and the end.
November 25th, 2008 at 6:08 am
Real smart, use the same crooks, just on a grander scale… NICE.
November 25th, 2008 at 7:39 am
Get ready,grab your ankles.We are going to get it where it hurts.Take a deep breath it will only hurt for a little while then you can go back to life as normal.
November 25th, 2008 at 8:46 am
And to think the Obama crowd actually thought there was going to be change. They are so invested in their choice that they’d never admit that they screwed up.
November 25th, 2008 at 9:30 am
A question concerning Richard Rowell’s “Bankers’ Manifesto”. Where did you get that…give us the citation. It’s fantastic! As in 1892, 1933 and so on, these people really have their act together. A perpetual motion machine of misery and despair for the Have-Nots and impunity, status, self-indulgence, sadism and obliviousness for the Haves. And such a simple plan too. Any idiot can see it (well, maybe not til it’s too late) but then there is the little matter of putting oneself, OMG, at risk by doing something about it. In a coutry where the only “rationality” is self-interest, i.e. protecting me and mine, there is little or no foundation for community or even solid friendships let alone resistance. This is known by the elites because they did EVERYTHING to create this mind-set. They ain’t gonna stop this well-oiled machine unless they are stopped. But WHAT, I ask is their evaculation plan? Paraguay is still on planet Earth as far as I know. And the bastards have always loved “the war of all against all” in whatever shape it comes. So we need to fix firmly in our minds the dictum HANG TOGETHER OR HANG SEPARATELY because our lives depend on it. Be tolerant, be civil, be nice to all the rest of us self-deluding Have-Nots…we’re gonna need each other…and be as clear about who our enemies are and how they do what they do as they are about us. What a species! Maybe Carlin (RIP!) was right…the planet’s going to shake us off like a bad case of fleas. Too bad. Especially with Cheney living it up on Mars.
November 25th, 2008 at 9:01 pm
This is insane, I can’t believe people cannot make the connection… furthermore people are fucking loving obama like he’s some superhero… check this shit out:
http://www.prisonplanet.com/ob.....house.html
November 25th, 2008 at 9:03 pm
woops, it pasted the wrong link… it’s this :
http://www.challengeofthesuper.....efault.asp
November 25th, 2008 at 11:42 pm
OK, I KNOW this is off topic, but AJ hasn’t really talked about this – The new record from Guns N’ Roses is finally out – Chinese Democracy – and China is calling it a direct attack against their country. Do you support Axl calling the album this and his controversial lyrics about bringing down the great wall of China and saying things like You’re worth more than they tell you – Nothing’s gonna stop us now (he is referring to the libertarian movement) – btw his next record will have a song called “Atlas Shrugged.”
If you do support them – please go and show your support by voting in the poll at
http://www.blistering.com
The poll is on the bottom right of the page, scroll down a little.