President's Economic Advisory Recovery Board

[tsetsefly]

this is taken from another thread, post started by babbittd. But I think it deserves its own thread because of how appalling this news is.

Members of economic recovery board:

1. William H. Donaldson, former Chairman, SEC
2. Roger W. Ferguson, Jr., President & CEO, TIAA-CREF
3. Robert Wolf, Chairman & CEO, UBS Group Americas
4. David F. Swensen, CIO, Yale University
5. Mark T. Gallogly, Founder & Managing Partner, Centerbridge Partners L.P.
6. Penny Pritzker, Chairman & Founder, Pritzker Realty Group
7. John Doerr, Partner, Kleiner, Perkins, Caufield & Byers
8. Jim Owens, Chairman and CEO, Caterpillar Inc.
9. Monica C. Lozano, Publisher & Chief Executive Officer, La Opinion
10. Charles E. Phillips, Jr., President, Oracle Corporation
11. Anna Burger, Secretary-Treasurer, SEIU
12. Richard L. Trumka, Secretary-Treasurer, AFL-CIO
13. Laura D'Andrea Tyson, Dean, Haas School of Business at the University of California at Berkeley
14. Martin Feldstein, George F. Baker Professor of Economics, Harvard University
15. Jeffrey R. Immelt, CEO, GE

http://blogs.abcnews.com/politicalpu...etails-on.html

I think this is far from an economy recovery board. Its a special interest board made up of mostly insiders with a token latin guy just to include them...
You can bet all these CEO's will be pitching for "recovery" plans that will somehow end up benefitting their company-

If these would of been a true economic advisory board is should of included some people that actually saw the problem company and offer a different solution than what has already been tried and what the majority of these support...

[petertribo]

Re: President's Economic Advisory Recovery Board

Finally Penny Pritzker who was Obama's national finance chair gets a job:

Ms. Pritzker has been associated with the Subprime mortgage crisis. Ms. Pritzker's late uncle, Jay Pritzker, purchased a 50% stake in Hinsdale, Illinois-based Superior Bank of Chicago in 1989 from the Federal Deposit Insurance Corporation, which had taken over the bank when it failed in the late 1980s.[17] Penny Pritzker became chairman of the bank in 1991. Under Ms. Pritzker's chairmanship, the bank "embarked on a business strategy of significant growth into subprime home mortgages," according to a 2002 report by the United States Treasury Department.[17] She stepped down from the chairmanship (a largely titular role) in 1994 but continued to serve on the board of the holding company, Coast to Coast. In the months leading up to the 2001 seizure, the Pritzker family tried to work out a major recapitalization plan to "once again restore Superior's leadership position in subprime lending."[17] In July 2001, FDIC seized the bank after the recapitalization could not be resolved. .[18][19] Subsequently, the Pritzker family reached an agreement with regulators to pay $460 million over 15 years toward the costs of the closure; these funds will go towards reducing the costs of the FDIC's losses and partially reimburse depositors with accounts in excess of FDIC insurance limits.[my bold] [17][20][21][22]

http://en.wikipedia.org/wiki/Penny_P...nk_involvement

Just wait unitil the Chicago boys get behind the Federal wheel.

[*T*]

Re: President's Economic Advisory Recovery Board

You missed off

16. Angelo Mozillo

[mlg120856]

Re: President's Economic Advisory Recovery Board

I believe Elaine Meinel-Supkis at Culture of Life website has a good run down on these insiders.

[Slimprofits]

Re: President's Economic Advisory Recovery Board

The board is being led by Tall Paul Volcker and Austan Goolsbee from the U. of Chicago.

The American Hero, Harry Markopolos actually praised Donaldson for his performance at SEC. Penny Pritzker was an Obama bagwoman during the campaign and is connected to the subprime debacle through Superior Bank. Wolf was a bagman during the campaign. Laura Tyson is a FIRE economy apologist - we heard plenty of BS from her at Davos last week. Ferguson is from the Fed and the Council on Foreign Relations, Greenspan pushed for his appointment and as vice chairman at the Fed, he "was also engaged in banking regulatory, financial stability and payments systems matters." Mark Gallogly is a Democrat party bagman. John Doerr is big on ALT-E development. Lozano is among other things, on the board of directors at Bank of America and the National Council of La Raza. Phillips is another huge Democrat party fundraiser/contributor. Burger and Trumka campaigned for Obama. Feldstein was on the board of AIG for a while, also the runner up to Bernanke.

[metalman]

Re: President's Economic Advisory Recovery Board

The board is being led by Tall Paul Volcker and Austan Goolsbee from the U. of Chicago.

The American Hero, Harry Markopolos actually praised Donaldson for his performance at SEC. Penny Pritzker was an Obama bagwoman during the campaign and is connected to the subprime debacle through Superior Bank. Wolf was a bagman during the campaign. Laura Tyson is a FIRE economy apologist - we heard plenty of BS from her at Davos last week. Ferguson is from the Fed and the Council on Foreign Relations, Greenspan pushed for his appointment and as vice chairman at the Fed, he "was also engaged in banking regulatory, financial stability and payments systems matters." Mark Gallogly is a Democrat party bagman. John Doerr is big on ALT-E development. Lozano is among other things, on the board of directors at Bank of America and the National Council of La Raza. Phillips is another huge Democrat party fundraiser/contributor. Burger and Trumka campaigned for Obama. Feldstein was on the board of AIG for a while, also the runner up to Bernanke.

all in all, could be worse.