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Home Front Economy
Barack Obama taps range of experts for advice on economy
2009-02-06
PRESIDENT Barack Obama plans to name business executives, academics and labor leaders to an advisory panel that will help guide his effort to rescue the economy and rebuild the shattered U.S. financial system.

Former Federal Reserve Chairman Paul Volcker was tapped by Obama in November to lead the Economic Recovery Advisory Board, which is modeled on a board created in the Eisenhower administration to advise the White House on intelligence matters. Mr Volcker is to join Mr Obama for an event to introduce the other 15 members of the economic panel.

According to the White House, the members will include Robert Wolf, chairman and chief executive of UBS Group Americas and Jim Owens, chairman and chief executive of Caterpillar Inc and labor leaders such as Anna Burger, secretary-treasurer of the Service Employees International Union.
Yeah boy, get the SEIU in there, they know all about high finance ...
Penny Pritzker, chairman and founder of Pritzker Realty Group who was also the finance chair of Obama's presidential campaign, will sit on the board as will Laura D'Andrea Tyson, a former Clinton administration economist now at University of California, Berkeley.
Penny is the presidential equivalent of the 'Mayor's Man'. The board will meet, Penny will whisper in their ears, and the board will tell Obama what he wants to hear.
The panel includes some officials who served Republican administrations, such as William Donaldson, who was SEC chairman under President George W. Bush and Harvard economist Martin Feldstein, who served in the Reagan administration.

The naming of the advisory board comes amid a slew of data showing soaring job losses and a deepening recession. Economists are bracing for grim news when the Labor Department issues its January employment report.

Analysts polled by Reuters predicted the data will show U.S. employers slashed another 525,000 workers from their payrolls after cutting 524,000 jobs in December.

Mr Obama is prodding Congress to pass a more than $800 billion package of public works spending projects and tax cuts aimed lifting the economy out of recession.
Posted by:tipper

#9  OTOH, WORLD MIL FORUM [paraph = Google Chinglish translation] > RUSSIA PLANS TO BUILD A "COTTAGE VERSION" OF LAS VEGAS ON ITS PRIMORSKY TERRITORY [near Vladivostok].

And the similar one previously planned for the EURO-ZONE???
Posted by: JosephMendiola   2009-02-06 21:48  

#8  ION OBAMA, ISRAEL FORUM > JIHAD IS HEATING UP IN AMERICA/US, ISRAELI TARGETS LISTED ON [Pro-Islmaist/Violence] MUSLIM WEBSITE [Website indics support for its agendum from MANY US PROGRESSIVES ANARCHISTS, SOCIALISTS, COMMUNISTS, ETC,]; + OBAMA MISUNDERSTANDS THE GLOBAL JIHAD, + PRESIDENT OBAMA INVITES HAPAS TERRORISTS TO AMERICA [LIVE/RESETTLE IN AMERICA as by USPOTUS OBAMA Exec Order + vee LOOPHOLE-HEAVY?US$20.3Milyuhn US GOVT-SPONSORED MIGRATION ASSISTANCE to Paleo refugees and Conflict Victims in Gaza].
Posted by: JosephMendiola   2009-02-06 21:07  

#7  OK Mister super Zero, aren't these the same "Experts" who got us IN this mess?
Posted by: Rednek Jim   2009-02-06 20:05  

#6  Just read a book by Ludwig Von Mises or Hayek...

No? Oh well, more neo-Keynsianism and a whopper of a depression.
Posted by: Bright Pebbles the flatulent   2009-02-06 19:20  

#5  Volcker Also Advises Think-Tank That Opposes Permanent Components of Stimulus Plan
Posted by: tipper   2009-02-06 16:33  

#4  "Government By Consensus"

You may have a few folks in this group that actually understand how an economy is supposed to work. The rest of them.....well, it doesn't bode well.

I still blame this economic mess on the "Wharton School Economics" that became popular in the early sixties that "it's all about Leverage"
(loose translation - "Don't pay your bills, that's your 'hold' over your creditors").

The rest is history.
Posted by: Mullah Richard   2009-02-06 16:15  

#3  But I'll bet they're "wicked schmart"...
Posted by: tu3031   2009-02-06 16:03  

#2  Chris Dodd, Charlie Rangel and Franklin Raines?
Posted by: ed   2009-02-06 15:52  

#1  Experts?

If we had real experts why are we having the problems we are? /rhetorical question.
Posted by: Procopius2k   2009-02-06 15:48  

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