Mitt Romney's Top Economic Adviser is a Whore for Wall St. Banksters

Jump to Last Post 1-3 of 3 discussions (6 posts)
  1. Ralph Deeds profile image67
    Ralph Deedsposted 6 years ago

    "Mr. Hubbard also brings to this job a certain amount of baggage. He appeared briefly in “Inside Job,” a scathing and Oscar-winning 2010 documentary about the financial crisis. The film has a segment about high-profile professors who blessed many of the financial instruments that led to the fiasco. Enter Mr. Hubbard, who is presented as a leading thinker far too cozy with industries he ought to be assessing at a critical distance....

    " But in Mr. Hubbard’s case, some of his amply compensated work takes policy stands that buttress the viewpoints of the corporate interests that are paying him.

    "That’s been true of the mutual fund industry, which has paid him more than $1 million over the years. In an academic paper and a book, he took a strong position favoring the industry’s approach to fees, which critics say hurt everyday investors. He was paid what he called an honorarium of $150,000 for the academic paper by the insurance arm of the Investment Company Institute, the mutual fund industry trade and lobbying group.

    “Dean Hubbard is a mercenary,” says John P. Freeman, emeritus professor of business and professional ethics at the University of South Carolina School of Law, who has accused the mutual fund industry of profiteering, “out to protect fund managers who are taking advantage of investors.”

    "Mr. Hubbard says the source of funding is irrelevant because his academic writing stands on its own...

    "While serving under President Bush as chairman of the Council of Economic Advisers, he pushed to reduce dividend taxes to zero. (Ultimately, the top tax rate on dividends was cut by more than half, to 15 percent.) ...

    "“I am comfortable that I balance my scholarship and teaching, deanship, and outside activities very well.”

    "That balance has included work for many corporations that have generated unflattering headlines in recent years. On his résumé, in the category of “consulting or advisory relationships,” Mr. Hubbard lists Freddie Mac, Bank of America, JPMorgan Chase and Goldman Sachs. He was co-author of a paper with William C. Dudley, then the chief economist of Goldman Sachs, titled “How Capital Markets Enhance Economic Performance and Facilitate Job Creation,” which praised derivatives and the housing boom in 2004, as both were inflating into an epic bubble...."

    http://www.nytimes.com/2012/10/14/busin … f=politics

    1. JayeWisdom profile image91
      JayeWisdomposted 6 years agoin reply to this

      Thanks for the message and link, Ralph.  Voters need to know the truth (if they will but believe the truth when it rises up and smacks them in the face!)

      Jaye

    2. Repairguy47 profile image61
      Repairguy47posted 6 years agoin reply to this

      Obama is a whore for wall street, whats the problem?

  2. maxoxam41 profile image72
    maxoxam41posted 6 years ago

    "...whore for wall st banksters". Now, we're talking! There's no difference with Geithner! After all, Morgan Stanley got away without federal prosecution!

  3. knolyourself profile image59
    knolyourselfposted 6 years ago

    Two whores make a whore in one.

    1. Ralph Deeds profile image67
      Ralph Deedsposted 6 years agoin reply to this

      Ha!

 
working

This website uses cookies

As a user in the EEA, your approval is needed on a few things. To provide a better website experience, hubpages.com uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at: https://hubpages.com/privacy-policy#gdpr

Show Details
Necessary
HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
LoginThis is necessary to sign in to the HubPages Service.
Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
AkismetThis is used to detect comment spam. (Privacy Policy)
HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the googleapis.com or gstatic.com domains, for performance and efficiency reasons. (Privacy Policy)
Features
Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
MavenThis supports the Maven widget and search functionality. (Privacy Policy)
Marketing
Google AdSenseThis is an ad network. (Privacy Policy)
Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
Index ExchangeThis is an ad network. (Privacy Policy)
SovrnThis is an ad network. (Privacy Policy)
Facebook AdsThis is an ad network. (Privacy Policy)
Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
AppNexusThis is an ad network. (Privacy Policy)
OpenxThis is an ad network. (Privacy Policy)
Rubicon ProjectThis is an ad network. (Privacy Policy)
TripleLiftThis is an ad network. (Privacy Policy)
Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
Statistics
Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)