The Obama Economic Team: The Foxes Still In Charge?
53Gathering Around the Patient
"Hitting the Ground Running"
1. Obama's choice of his Economic (Domestic Policy) Team, as well as his Foreign Policy Team, sends one message; and that message is directed to what used to be called The Establishment. The message is: "You have nothing to fear from an Obama Presidency."
2. The refrain we hear regarding the Economy is that Obama wants to "hit the ground running." One might argue, given the last several months of Paulson & Bernanke "running" around like chickens without heads squandering public monies on policies notable only for their inefficacy, that the DIRECTION of the actions should be the paramount consideration rather than their VELOCITY.
3. The Obama Economic Team comprises the very architects responsible for the catastrophe, specifically including Robert Rubin, Citigroup's "Senior Adviser" to its Board's Executive Committee. Mr. Geithner is the third Musketeer, Bernanke and Paulson being the other two, of the un-elected triumvirate that designed the already discredited, abandoned $700 billion TARP. Mr. Summers, as well, is hardly the poster boy for Change.
The Economic Team, of course, "is what it is;" more important, "it is what it was."
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