Team of Rubins? (Beware)

[kentuck]

Where has Robert Rubin been hiding? Wasn't he a bigwig at CitiGroup? Wasn't he one of the people most responsible for the present predicament with the banks and their failed schemes? Ask yourself this question: Who will be bailed out first, CitiGroup or the Big Three? One more huge chunk out of the $700 billion and this will be the pattern for the next 60 days. When Barack Obama takes office, there will be nothing but crumbs left of that 350 billion that he anticipates using. Do you think Congress will ask them for a plan?? You want to know what's happening behind the scenes? Follow Robert Rubin.
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http://www.huffingtonpost.com/robert-kuttner/team-of-rubins_b_145879.html

<snip>
As progressives, we can view President-Elect Obama's emerging economic team in one of two ways. Either he has disappointed us by picking a group of Clinton retreads--the very people who brought us the deregulation that produced the financial collapse; the fiscal conservatives who in the 1990s put budget balance ahead of rebuilding public institutions. Or we can conclude that he has very shrewdly named a team of technically competent centrists so that he can govern as a progressive in pragmatist's clothing--as he moves the political center to the left.

<snip>
Will Obama do any of this? He has reality on his side. He will have to think and move radically in order to save the economy. By January 20 we will be tottering on the edge of a depression. The entire conservative paradigm is now disgraced. Republicans may support a large initial stimulus package, for their districts are suffering along with Democrats. But they will want it be mostly in the form of tax cuts rather than public investment; and they are likely to oppose much of the rest of Obama's program. The bolder it is, the more rightwing opposition Obama will invite. By January, the lkikes of George Will and David Brooks will be aghast (I hope).

<snip>
Which brings me back to Obama's economic team. Leaks suggest that it will include Tim Geithner as Treasury Secretary; Lawrence Summers as a senior White House adviser, perhaps head of the National Economic Council; Peter Orszag as director of OMB; and Jason Furman, Austan Goolsbee and Jack Lew in other senior economic positions. All are relative centrists. And with the exception of Goolbee, the one thing that all have in common is that every one is a protégé of former Treasury Secretary and current Citigroup executive Robert Rubin. Even Hillary Clinton, as president, might have found a fresher group.

What kind of magic does this man Rubin have? He was one of the key Democratic architects of the extreme financial regulation that brought the economy to this pass. At Citi, he was one of the grand strategists of the speculation in securitized loans and off-balance-sheet gimmicks that has brought Citi to the edge of bankruptcy. Yet he continues to fall upwards. Surely Barack Obama must have noticed that Rubin is a false prophet. So why is his entire senior economic group a Team of Rubinistas?

....more

[w4rma]

1. K&R (nt)

[kentuck]

2. Folks, we may need to look at this just a little closer...

There's a lot going on behind the scenes and we are missing it. Blind faith will only lead us to disaster.

[Sunnyshine]

6. I am committed to the investment I made in electing Barack Obama as POTUS.

His being in office is not about him- it's about us. Our job as citizens is to stay involved. Calling attention to the issues and causes that are crying out for justified policies and reform. I will help the PE in any way I can from here on out, as his load is certainly the heaviest one. He has my understanding, as we all know absolute power will not concede easily. I think he can do that by working inside out while converting bad to better. The hardest work of taking back our country takes place after we win elections.

It's a golden opportunity for the Democratic movement, and we must see it through to the end if we stand to benefit from our vote.
If the idea of a responsive government is kept front and center, the impact on American politics could be extraordinary. "If", is iffy.

[nosmokes]

3. For a second this was the image in my head after reading your title...

>

[fla nocount]

4. I've implicit faith in anyone selected by BO to save my country.

To imply that the selected have any goals beyond saving Chevrolet, generating new recipes for apple pie and insuring a future for my sainted Mom is heretical. The author of such filth should switch parties.

All will be known and all will be right once President Obama occupies and makes his presence felt in the Oval Orifice.

[Sunnyshine]

5. Being aware is good. Those who directly contributed to the decline of our economy through...

financial schemes should not be awarded with important posts in the next administration. We want accountability from our government, top to bottom. I adore PE Barack Obama and am thrilled at the opportunities we have to showcase Democratic talents. I believe he intends to take good care of us- but did these people who made this mess see the error in their ways suddenly?

"Or we can conclude that he has very shrewdly named a team of technically competent centrists so that he can govern as a progressive in pragmatist's clothing--as he moves the political center to the left."

IMO, it's more like moving out of the mid-right field and aiming to get us back to center by focusing on policies that would positively benefit the majority of citizens. UHC, Job creation, Green investments- all of these could bring balance to the electorate and the budget at the same time. That sounds like a good plan and I think that's more like what PE intends and the pay off would be huge.

I would like to believe most elected Democrats will work to that end, but we know how Washington is and the sad reality is that the changes our people need are often held for ransom or taken over by the fat cats on K Street squeezing out the interests of the undernourished Main Streets. The writing is on the wall for them. We can make or break ourselves in next 4 years. Make it count!

Still Fired up and Ready to Go! Just not too fond of typical D.C. players - Barack might inspire them to be better men I hope?