At the top [of Obama's "economic" "team"] is Lawrence Summers, the director of Obama’s National Economic Council. As Bill Clinton’s Treasury secretary in the late 1990s, Summers worked with his deputy, Tim Geithner (now Obama’s Treasury secretary), and Clinton aide Rahm Emanuel (now Obama’s chief of staff) to champion job-killing trade deals and deregulation that Obama Commerce Secretary-designate Judd Gregg helped shepherd through Congress as a Republican senator. Now, this pinstriped band of brothers is proposing a “cash for trash” scheme that would force the public to guarantee the financial industry’s bad loans. It’s another ploy “to hand taxpayer dollars to the banks through a variety of complex mechanisms,” says economist Dean Baker—and noticeably absent is anything even resembling a “rival” voice inside the White House.

That’s not an oversight. From former federal officials like Robert Reich and Brooksley Born, to Nobel Prize-winning economists like Joseph Stiglitz and Paul Krugman, to business leaders like Leo Hindery, there’s no shortage of qualified experts who have challenged market fundamentalism. But they have been barred from an administration focused on ideological purity.

In Hindery’s case, the blacklisting was explicit. Despite this venture capitalist establishing a well-respected think tank and serving as a top economic adviser to Obama’s campaign, the Politico reports that “Obama’s aides appear never to have taken his bid [for an administration post] seriously.” Why? Because he “set himself up in opposition” to Wall Street’s agenda.

The anecdote highlights how, regardless of election hoopla, Washington is the same one-party town it always has been—controlled not by Democrats or Republicans, but by kleptocrats (i.e., thieves). Their ties to money make them the undead zombies in the slash-and-burn horror flick that is American politics: No matter how many times their discredited theologies are stabbed, torched and shot down by verifiable failure, their careers cannot be killed....

posted by speakingcorpse : 2/07/2009 08:32:00 PM