Why Not Bank CEOs? (David Sirota)

Not a defense of Rick Wagoner, but rather a good question about a whole lot of Bank CEO's.



the rest: http://www.openleft.com/

(link edit)

n/t

Citi Chief Economist

(..)

The Wall Street Journal quoted an internal Citigroup memo saying that Alexander would leave his job in Citi to work on domestic financial issues at the Treasury, which is facing staff shortage.

Lewis Alexander, who has been at Citigroup since 1999 and before that worked at the Federal Reserve, will head to the Treasury "to work on domestic financial issues", the memo stated.

Further, the WSJ report cited a government official as saying that Alexander would be a counselor to Treasury Secretary Timothy Geithner.

(..)

http://www.business-standard.com/india/news/citi-chief-economist-quits-to-join-us-treasury-report/56858/on

http://dealbook.blogs.nytimes.com/2009/03/18/citis-chief-economist-to-join-treasury-dept/

when all of this is over. There will be too many conflicts of interest. Dang!!

Been asking right along...

Obama first met with Wagoner on March 12th.


Obama first met with Bank CEOs on March 27th.


Or was the President supposed to call for resignation all at once?

The actions that President Obama is taking are not based on tit for tat.

This Blog post doesn't even take into consideration which CEO caused the problems,
versus which were brought in to clean up the mess.

In other words, this comment is devoid of substance and was designed
to attempt to make folks outraged.

Considering how badly our economy is doing, this instigative type of opining
is deconstructive, and does not serve anybody well as it is uninformed, and juvenile in its approach.

Never did it under Bush years, either. Feel free to scratch him off your reading list for the next four years.

Why not the bankers? In fact, we were told the bankers had to be given bonuses to retain their vast skills. But labor needs to make more concessions. Bankers get billions, labor gets bled dry.
Why not the bank CEOs indeed.

He is of the opinion that the jobs that have been out sourced were crummy jobs that nobody wants to do. He is in favor of more visas to replace American workers who have been laid off.

All of his advisor's on how to fix the economy are the very ones who are responsible for destroying it. No problem replacing all those out sourced jobs, we are all going to be building solar panels that nobody can afford to buy. By the way, he might not have heard, but that hot green industry is laying off people. GE may even close it plant.

We have to keep the health insurances companies in business making outrageous profits so we can't have a real solution in single payer health insurance. We are going to develop a massive data bank operated by Chinese to determine if the health care that your physician in India has prescribed is cost effective.

The answer to the automobile problem is to cut the pay of the union workers. Its all their fault. The auto industry can't have any more money since we have to pay the bonuses to the Wall Street robber barons who destroyed the economy or they will quit.

Sorry, but I am getting to be a bit disappointed.

GM refused to drop the Hummer? It's the tangible symbol of corporate stupidity the average person can understand. The machinations of banks and their executives just cause the average person to tune out.
It's not like there's a picture of them with their hands in the cookie jar.
The Hummer on the other hand, just makes average people wonder why anyone would make something for which there is a very limited market.
When GM and the others make a car that is reliable, affordable and cheap to operate they'll get back their market share. The need for vehicles that run on affordable energy without a huge carbon footprint is here now. When that need is addressed on the principle of people over profits everyone comes out a winner. It's just that people on the top of the food chain are so accustomed to stealing that it's become the norm for them. How many among us would be underpaid at a million a year?
The class warfare they've been winning for the past several years has reached the point of diminishing returns. The sooner the elites understand this the less likely the need for guillotines and head baskets.