A friend sent along these thoughts on how to frame the millions that Larry Summers, Obama's economic adviser, got from a hedge fund in the last year.
He and others in the Obama economic council have profound conflicts of interest between their ties to Wall Street (esp. Goldman Sachs, a trading partner of AIG) and serving the interests of Main Street.
But only Chas Freeman's appointment was voided for his supposed conflicts of interest (China, Saudi Arabia, etc). If unions or progressive groups had anywhere near the power of the Israel lobby, our economic policies would not be shaped by the architects of the economic collapse….
Summers and Rubin helped craft the Commodity Futures Modernization Act that allowed CDO swaps or derivative trading,
then made millions off them. Rubin helped drive Citigroup into the
ground by pushing them to trade in derivatives, then cashed out millions
in stock. Their independence was never questioned by Congress– but
Freeman's was and for much less.
But only Chas Freeman's appointment was voided for his supposed conflicts of interest (China, Saudi Arabia, etc). If unions or progressive groups had anywhere near the power of the Israel lobby, our economic policies would not be shaped by the architects of the economic collapse….
Summers and Rubin helped craft the Commodity Futures Modernization Act that allowed CDO swaps or derivative trading,
then made millions off them. Rubin helped drive Citigroup into the
ground by pushing them to trade in derivatives, then cashed out millions
in stock. Their independence was never questioned by Congress– but
Freeman's was and for much less.
Another angle on Summers is
that he made a big deal about anti-Zionism at Harvard in order to gain
moral legitimacy while the bubble economy he helped create ballooned…
that he made a big deal about anti-Zionism at Harvard in order to gain
moral legitimacy while the bubble economy he helped create ballooned…
